DXC Technology DXC recently announced that it has signed a multi-year partnership agreement with Manchester United MANU to digitally transform the soccer club’s operations and enhance its fan experiences across the globe. DXC will be the club’s principal digital transformation partner.
DXC will aid Manchester United in optimizing its digital solutions, improving the way football club fans engage and interact. Through this major partnership, DXC will develop the club's website and media platforms, manage app and streamline analytics data, enabling it to offer better fan experiences across its digital channels.
DXC will also become Manchester United’s principal shirt sleeve partner for the 2022/23 season. This will enhance the company’s brand value by giving it worldwide exposure to the global Manchester audiences. DXC’s brand logo will be visible on the soccer club's home, away and third kit for the men's, women's and youth teams.
DXC Technology Company. Price and Consensus
DXC Technology Company. price-consensus-chart | DXC Technology Company. Quote
Further, the company will support Manchester United Academy's coaching staff via data analysis. It will jointly work as the presenting partner to the club’s charity hand, Manchester United Foundation, for community care through digital workshops, programs and in-person seminars.
Currently, the company is focusing on the cloud computing market, cyber business and Big Data business. Clients are increasingly relying on cloud-based services as DXC makes the IT system more agile and productive, which leads to considerable cost savings. Per Gartner, worldwide IT spending is anticipated to be $4.4 trillion in 2022, suggesting an increase of 4% from 2021. The research firm expects worldwide spending on IT services to grow 6.8% year over year to $1.27 trillion this year. Therefore, DXC, a major player in the space, is anticipated to benefit from this untapped opportunity.
In June, the company secured a five-year network and security services contract from the European Space Agency to provide scalable, secure network services to its international workforce of scientists, engineers and information technology specialists.
Before that, in January, DXC formed a global DXC ServiceNow Strategic Business Group in collaboration with ServiceNow NOW to advance the transformation of enterprise operational services. The collaboration with ServiceNow has enabled DXC to offer more cost-efficient and resilient technology services through Platform X to the enterprises automating their service operations and meeting customer requirements.
Zacks Rank & A Key Pick
DXC and ServiceNow currently carry a Zacks Rank #3 (Hold), while Manchester United carries a Zacks Rank #4 (Sell). Shares of DXC, MANU & NOW have declined 8.9%, 24.2% and 24%, respectively, in the year-to-date period.
A better-ranked stock from the broader Computer and Technology sector is Baidu BIDU, sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
The Zacks Consensus Estimate for Baidu's second-quarter 2022 earnings has been revised 31 cents southward to $1.38 per share over the past 60 days. For 2022, earnings estimates have moved 3 cents north to $8.27 per share in the past 60 days.
Baidu's earnings beat the Zacks Consensus Estimate in each of the preceding four quarters, the average surprise being 52.9%. Shares of BIDU have inched up 0.3% year to date.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Baidu, Inc. (BIDU) : Free Stock Analysis Report
ServiceNow, Inc. (NOW) : Free Stock Analysis Report
Manchester United Ltd. (MANU) : Free Stock Analysis Report
DXC Technology Company. (DXC) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research