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DXC Technology Co (NYSE:DXC), a prominent player in the IT Services industry with a market capitalization of $2.9 billion, reported that Howard Boville, executive vice president of consulting and engineering services, left the company on July 1. According to a statement released in a recent SEC filing, Mr. Boville’s departure was accompanied by a separation agreement. He will receive a separation payment and benefits consistent with terms previously disclosed in the company’s 2025 proxy statement under sections addressing non-change of control executive officer severance and potential payments upon non-change of control termination of employment.
No further details regarding the reasons for Mr. Boville’s departure or information on a replacement were provided in the filing. The announcement was made as part of a press release statement and disclosed through a regulatory filing with the Securities and Exchange Commission.
In other recent news, DXC Technology reported strong quarterly financial results, with both revenue and adjusted earnings per share surpassing projections from RBC Capital and other Wall Street estimates. Despite this performance, RBC Capital Markets reduced its price target for DXC Technology from $27.00 to $18.00, maintaining a Sector Perform rating. Similarly, Stifel adjusted its price target for the company to $15.00 from $24.00, while keeping a Hold rating, following DXC’s fourth fiscal quarter results. The company’s guidance for fiscal year 2026 regarding revenue, earnings per share, and free cash flow did not meet consensus expectations, contributing to a cautious outlook from analysts.
DXC Technology also announced a partnership with Thought Machine to modernize core banking systems for small and midsize banks, leveraging cloud-native platforms to enhance digital transformation. In Mexico, DXC relaunched its DXC Fast RISE with SAP service, utilizing Microsoft (NASDAQ:MSFT) Azure to facilitate cloud migration for local enterprises. Additionally, DXC appointed Ramnath Venkataraman as President of Consulting & Engineering Services, underscoring the company’s commitment to leadership talent and business growth. These developments reflect DXC Technology’s ongoing efforts to drive digital transformation and address current market challenges.
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