DXC Technology (NYSE:DXC) Price Target Cut to $18.00 by Analysts at TD Cowen

DXC Technology (NYSE:DXC) had its price objective reduced by TD Cowen from $22.00 to $18.00 in a research note published on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

DXC has been the subject of several other reports. Royal Bank of Canada lowered their price objective on DXC Technology from $24.00 to $18.00 and set a sector perform rating for the company in a research note on Friday, May 17th. Guggenheim assumed coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They set a neutral rating and a $22.00 price objective for the company. Susquehanna cut their price objective on shares of DXC Technology from $22.00 to $15.00 and set a neutral rating on the stock in a research report on Friday, May 17th. Stifel Nicolaus lowered their target price on shares of DXC Technology from $21.00 to $19.00 and set a hold rating for the company in a report on Friday, May 17th. Finally, JPMorgan Chase & Co. downgraded shares of DXC Technology from a neutral rating to an underweight rating and cut their price target for the company from $27.00 to $24.00 in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average price target of $19.77.

DXC Technology Trading Down 3.0 %

DXC stock opened at $15.92 on Tuesday. The firm has a fifty day moving average price of $19.95 and a 200 day moving average price of $21.61. DXC Technology has a fifty-two week low of $15.44 and a fifty-two week high of $28.89. The firm has a market cap of $2.85 billion, a PE ratio of 43.03, a price-to-earnings-growth ratio of 1.82 and a beta of 1.85. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.11 and a current ratio of 1.17.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Thursday, May 16th. The company reported $0.97 EPS for the quarter, topping analysts’ consensus estimates of $0.83 by $0.14. The business had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.37 billion. DXC Technology had a net margin of 0.67% and a return on equity of 18.43%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period last year, the company posted $1.02 EPS. Sell-side analysts anticipate that DXC Technology will post 2.73 earnings per share for the current fiscal year.

Insider Transactions at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value of $393,356.46. Following the completion of the sale, the executive vice president now owns 124,806 shares in the company, valued at $2,712,034.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.87% of the company’s stock.

Institutional Trading of DXC Technology

Hedge funds have recently added to or reduced their stakes in the business. Principal Financial Group Inc. raised its holdings in shares of DXC Technology by 323.0% in the 4th quarter. Principal Financial Group Inc. now owns 997,769 shares of the company’s stock valued at $22,819,000 after purchasing an additional 761,884 shares in the last quarter. State of Alaska Department of Revenue raised its stake in DXC Technology by 388.6% in the fourth quarter. State of Alaska Department of Revenue now owns 119,130 shares of the company’s stock worth $2,724,000 after buying an additional 94,748 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in DXC Technology during the fourth quarter worth $1,472,000. Louisiana State Employees Retirement System bought a new stake in DXC Technology during the 4th quarter valued at $2,216,000. Finally, Ameriprise Financial Inc. boosted its position in DXC Technology by 0.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,992,875 shares of the company’s stock valued at $62,342,000 after acquiring an additional 8,235 shares in the last quarter. 96.20% of the stock is owned by hedge funds and other institutional investors.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in the United States, the United Kingdom, rest of Europe, Australia, and internationally. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS).