DXC Technology (NYSE:DXC) Announces Quarterly Earnings Results

DXC Technology (NYSE:DXC – Get Free Report) posted its earnings results on Thursday. The company reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.17, reports. The firm had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.14 billion. DXC Technology had a return on equity of 18.43% and a net margin of 0.67%.

DXC Technology Stock Performance

DXC traded up $1.31 during mid-day trading on Friday, reaching $19.64. 2,590,522 shares of the company traded hands, compared to its average volume of 2,490,428. The company’s fifty-day moving average price is $18.65 and its 200-day moving average price is $19.75. The stock has a market capitalization of $3.54 billion, a P/E ratio of 52.95, a P/E/G ratio of 2.27 and a beta of 1.73. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.25. DXC Technology has a 52-week low of $14.78 and a 52-week high of $25.14.

Hedge Funds Weigh In On DXC Technology

A number of institutional investors and hedge funds have recently modified their holdings of DXC. Glenview Capital Management LLC lifted its position in DXC Technology by 33.6% during the fourth quarter. Glenview Capital Management LLC now owns 13,006,623 shares of the company’s stock valued at $297,461,000 after purchasing an additional 3,272,212 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in DXC Technology by 19.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 8,468,575 shares of the company’s stock valued at $193,679,000 after purchasing an additional 1,386,314 shares in the last quarter. FIL Ltd boosted its position in shares of DXC Technology by 4.2% in the fourth quarter. FIL Ltd now owns 6,598,101 shares of the company’s stock worth $150,899,000 after purchasing an additional 267,480 shares during the period. American Century Companies Inc. increased its stake in shares of DXC Technology by 20.8% in the second quarter. American Century Companies Inc. now owns 3,991,295 shares of the company’s stock worth $76,194,000 after purchasing an additional 687,522 shares in the last quarter. Finally, LSV Asset Management raised its position in shares of DXC Technology by 0.8% during the 2nd quarter. LSV Asset Management now owns 3,436,128 shares of the company’s stock valued at $65,596,000 after purchasing an additional 26,186 shares during the period. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on DXC shares. TD Cowen dropped their target price on shares of DXC Technology from $22.00 to $18.00 and set a “hold” rating on the stock in a report on Tuesday, May 21st. Stifel Nicolaus cut their price target on DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a research note on Friday, May 17th. BMO Capital Markets lifted their price objective on DXC Technology from $17.50 to $22.00 and gave the company a “market perform” rating in a research note on Friday. Susquehanna increased their target price on DXC Technology from $15.00 to $19.00 and gave the stock a “neutral” rating in a research note on Wednesday, June 12th. Finally, Morgan Stanley reduced their price target on DXC Technology from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 17th. Three equities research analysts have rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, DXC Technology has a consensus rating of “Hold” and a consensus target price of $20.50.

View Our Latest Analysis on DXC Technology

About DXC Technology

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DXC Technology Company, together with its subsidiaries, provides information technology services and solutions in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).

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