DXC Technology Company.’s (DXC) “Overweight” Rating Reiterated at KeyCorp

KeyCorp reissued their overweight rating on shares of DXC Technology Company. (NYSE:DXC) in a report released on Monday, The Fly reports. KeyCorp currently has a $99.00 price target on the stock, up from their prior price target of $92.00. KeyCorp also issued estimates for DXC Technology Company.’s Q2 2018 earnings at $1.52 EPS, Q3 2018 earnings at $1.80 EPS, Q4 2018 earnings at $1.93 EPS, FY2018 earnings at $6.84 EPS, Q1 2019 earnings at $1.94 EPS, Q2 2019 earnings at $2.06 EPS, Q3 2019 earnings at $2.27 EPS and Q4 2019 earnings at $2.32 EPS.

DXC has been the topic of several other research reports. Stifel Nicolaus reiterated a hold rating and set a $86.00 target price on shares of DXC Technology Company. in a research report on Thursday, August 10th. TheStreet upgraded DXC Technology Company. from a c rating to a b rating in a research report on Tuesday, August 8th. Cowen and Company reiterated a hold rating and set a $77.00 target price on shares of DXC Technology Company. in a research report on Thursday, August 10th. Bank of America Corporation began coverage on DXC Technology Company. in a research report on Tuesday, September 12th. They set a buy rating and a $101.00 target price on the stock. Finally, BMO Capital Markets reiterated an outperform rating and set a $94.00 target price (up previously from $92.00) on shares of DXC Technology Company. in a research report on Wednesday, August 9th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $90.93.

Shares of DXC Technology Company. (NYSE:DXC) opened at 87.65 on Monday. The firm has a 50-day moving average price of $85.28 and a 200 day moving average price of $79.45. The firm has a market capitalization of $24.95 billion, a price-to-earnings ratio of 276.50 and a beta of 1.04. DXC Technology Company. has a one year low of $51.22 and a one year high of $89.52.

DXC Technology Company. (NYSE:DXC) last released its earnings results on Tuesday, August 8th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.34. DXC Technology Company. had a return on equity of 17.51% and a net margin of 0.49%. The company had revenue of $5.91 billion for the quarter, compared to analysts’ expectations of $5.95 billion. Equities analysts forecast that DXC Technology Company. will post $6.82 earnings per share for the current fiscal year.

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The company also recently declared a quarterly dividend, which was paid on Wednesday, October 11th. Investors of record on Wednesday, September 6th were issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date was Friday, September 1st. DXC Technology Company.’s dividend payout ratio is currently -378.95%.

In related news, CFO Paul N. Saleh sold 59,824 shares of the company’s stock in a transaction that occurred on Monday, July 17th. The stock was sold at an average price of $78.08, for a total value of $4,671,057.92. Following the sale, the chief financial officer now owns 196,113 shares in the company, valued at approximately $15,312,503.04. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Michael G. Nefkens sold 128,328 shares of the company’s stock in a transaction that occurred on Monday, July 24th. The stock was sold at an average price of $80.03, for a total value of $10,270,089.84. Following the completion of the sale, the executive vice president now owns 25,447 shares in the company, valued at approximately $2,036,523.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 359,666 shares of company stock worth $29,091,539. Insiders own 1.30% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in DXC. Vanguard Group Inc. grew its holdings in shares of DXC Technology Company. by 30,928.2% in the 2nd quarter. Vanguard Group Inc. now owns 20,771,226 shares of the company’s stock worth $1,593,568,000 after acquiring an additional 20,704,283 shares during the period. BlackRock Inc. acquired a new stake in DXC Technology Company. during the 2nd quarter valued at $1,368,006,000. Dodge & Cox acquired a new stake in DXC Technology Company. during the 2nd quarter valued at $1,032,608,000. Boston Partners acquired a new stake in DXC Technology Company. during the 2nd quarter valued at $932,573,000. Finally, State Street Corp acquired a new stake in DXC Technology Company. during the 2nd quarter valued at $898,855,000. Institutional investors and hedge funds own 85.04% of the company’s stock.

About DXC Technology Company.

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers technology solutions comprising consulting, applications services, and software.

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