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DXC Technology (DXC) to Modernize IT Infra of Renfe's LogiRail
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DXC Technology (DXC - Free Report) recently announced that Spanish rail operator Renfe’s LogiRail has selected the company for modernization of its information technology (“IT”) infrastructure. The $6-million contract will ensure that the railway company’s growth accelerates beyond its pre-pandemic levels while fulfilling increasing demand for its passenger and freight services.
Per the contract, DXC will be providing critical IT platforms, operating systems, databases and IT applications to LogiRail for digitization and modernization. The tech company’s competency center for cloud technologies, an organizational structure used to coordinate IT skills with an enterprise, will aid the national rail operator of Spain in growing its freight base to 1.5 million tonnes in 2022.
DXC will also provide an operational dashboard to the railway operator for real-time data insights that will help maintain passenger safety and check whether cargo reaches its destination on time.
This 12-year-old collaboration with Renfe Group reflects the reliability of DXC’s cloud platforms and technological capabilities. This, in turn, will make the company Renfe’s lead IT partner.
The company is currently focusing on the cloud computing market, cyber business and Big Data business. Clients are relying increasingly on cloud-based services as they make the IT system more agile and productive, thus leading to considerable cost savings. However, the segment is still underpenetrated.
Per Gartner, worldwide IT spending is anticipated to be $4.5 trillion in 2022, suggesting an increase of 5.5% from 2021. The research firm expects worldwide spending on IT services to grow 8.6% year over year to $1.29 trillion this year. Therefore, DXC, a major player in the space, is anticipated to benefit from this untapped opportunity.
The Zacks Consensus Estimate for Arrow’s fourth-quarter fiscal 2021 earnings has been raised to $4.42 per share from $3.85 in the past 60 days. For fiscal 2021, earnings estimates have moved north by 8.1% to $14.6 per share over the past 60 days.
Arrow’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 18.6%. Shares of ARW have appreciated 30.5% year to date (“YTD”).
The Zacks Consensus Estimate for Advanced Micro Devices’ fourth-quarter 2021 earnings has been revised upward by 7 cents to 75 cents per share over the past 60 days. For 2021, earnings estimates have moved north by 0.38% to $2.65 per share in the last 30 days.
Advanced Micro Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14%. Shares of AMD have rallied 57.3% in the YTD period.
The consensus mark for Qualcomm’s first-quarter fiscal 2022 earnings has moved south to $3 per share from $3.01 in the past seven days. For fiscal 2022, earnings estimates have been revised downward by 0.10% to $10.48 per share in the past seven days.
Qualcomm’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 11.2%. Shares of QCOM have gained 17.9% YTD.
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DXC Technology (DXC) to Modernize IT Infra of Renfe's LogiRail
DXC Technology (DXC - Free Report) recently announced that Spanish rail operator Renfe’s LogiRail has selected the company for modernization of its information technology (“IT”) infrastructure. The $6-million contract will ensure that the railway company’s growth accelerates beyond its pre-pandemic levels while fulfilling increasing demand for its passenger and freight services.
Per the contract, DXC will be providing critical IT platforms, operating systems, databases and IT applications to LogiRail for digitization and modernization. The tech company’s competency center for cloud technologies, an organizational structure used to coordinate IT skills with an enterprise, will aid the national rail operator of Spain in growing its freight base to 1.5 million tonnes in 2022.
DXC will also provide an operational dashboard to the railway operator for real-time data insights that will help maintain passenger safety and check whether cargo reaches its destination on time.
This 12-year-old collaboration with Renfe Group reflects the reliability of DXC’s cloud platforms and technological capabilities. This, in turn, will make the company Renfe’s lead IT partner.
The company is currently focusing on the cloud computing market, cyber business and Big Data business. Clients are relying increasingly on cloud-based services as they make the IT system more agile and productive, thus leading to considerable cost savings. However, the segment is still underpenetrated.
DXC Technology Company. Price and Consensus
DXC Technology Company. price-consensus-chart | DXC Technology Company. Quote
Per Gartner, worldwide IT spending is anticipated to be $4.5 trillion in 2022, suggesting an increase of 5.5% from 2021. The research firm expects worldwide spending on IT services to grow 8.6% year over year to $1.29 trillion this year. Therefore, DXC, a major player in the space, is anticipated to benefit from this untapped opportunity.
Zacks Rank & Other Stocks to Consider
DXC currently carries a Zacks Rank #2 (Buy).
Some other stocks in the broader technology sector that investors can consider are Arrow Electronics (ARW - Free Report) , which sports a Zacks Rank #1 (Strong Buy), and Advanced Micro Devices (AMD - Free Report) and Qualcomm (QCOM - Free Report) , both carrying a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Arrow’s fourth-quarter fiscal 2021 earnings has been raised to $4.42 per share from $3.85 in the past 60 days. For fiscal 2021, earnings estimates have moved north by 8.1% to $14.6 per share over the past 60 days.
Arrow’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 18.6%. Shares of ARW have appreciated 30.5% year to date (“YTD”).
The Zacks Consensus Estimate for Advanced Micro Devices’ fourth-quarter 2021 earnings has been revised upward by 7 cents to 75 cents per share over the past 60 days. For 2021, earnings estimates have moved north by 0.38% to $2.65 per share in the last 30 days.
Advanced Micro Devices’ earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 14%. Shares of AMD have rallied 57.3% in the YTD period.
The consensus mark for Qualcomm’s first-quarter fiscal 2022 earnings has moved south to $3 per share from $3.01 in the past seven days. For fiscal 2022, earnings estimates have been revised downward by 0.10% to $10.48 per share in the past seven days.
Qualcomm’s earnings beat the Zacks Consensus Estimate in each of the trailing four quarters, the average surprise being 11.2%. Shares of QCOM have gained 17.9% YTD.