Citigroup Reiterates Buy Rating for DXC Technology (DXC)
Citigroup reaffirmed their buy rating on shares of DXC Technology (NYSE:DXC) in a research note issued to investors on Thursday, MarketBeat reports. They currently have a $117.00 price objective on the stock, up from their previous price objective of $107.00.
Several other research firms have also commented on DXC. KeyCorp upped their price target on shares of DXC Technology from $107.00 to $116.00 and gave the company an overweight rating in a research report on Tuesday, January 9th. Barclays upped their price target on shares of DXC Technology from $108.00 to $113.00 and gave the company an overweight rating in a research report on Tuesday, November 21st. BMO Capital Markets upped their price target on shares of DXC Technology from $105.00 to $110.00 and gave the company an outperform rating in a research report on Wednesday, November 8th. SunTrust Banks upped their price target on shares of DXC Technology to $100.00 and gave the company a hold rating in a research report on Monday, November 13th. Finally, Cowen reaffirmed a hold rating and set a $96.00 price target on shares of DXC Technology in a research report on Wednesday, January 3rd. Four equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus price target of $102.12.
Shares of DXC Technology (NYSE DXC) traded up $0.50 during trading hours on Thursday, reaching $100.98. The company’s stock had a trading volume of 1,929,337 shares, compared to its average volume of 1,101,635. DXC Technology has a fifty-two week low of $64.06 and a fifty-two week high of $102.95. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.51. The stock has a market cap of $28,806.47, a price-to-earnings ratio of 171.15, a price-to-earnings-growth ratio of 1.28 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Wednesday, December 6th were paid a dividend of $0.18 per share. The ex-dividend date was Tuesday, December 5th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 0.71%. DXC Technology’s dividend payout ratio (DPR) is presently 122.03%.
Several large investors have recently made changes to their positions in DXC. Vanguard Group Inc. grew its stake in shares of DXC Technology by 30,928.2% during the 2nd quarter. Vanguard Group Inc. now owns 20,771,226 shares of the company’s stock valued at $1,593,568,000 after acquiring an additional 20,704,283 shares during the period. Dodge & Cox bought a new position in shares of DXC Technology during the 2nd quarter valued at approximately $1,032,608,000. State Street Corp bought a new position in shares of DXC Technology during the 2nd quarter valued at approximately $898,855,000. Glenview Capital Management LLC bought a new position in shares of DXC Technology during the 2nd quarter valued at approximately $625,894,000. Finally, FMR LLC bought a new position in shares of DXC Technology during the 2nd quarter valued at approximately $375,799,000. Institutional investors own 84.68% of the company’s stock.
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About DXC Technology
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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