DXC Technology (NYSE:DXC) Downgraded by Moffett Nathanson

Moffett Nathanson lowered shares of DXC Technology (NYSE:DXC) from a buy rating to a neutral rating in a research note published on Wednesday, Price Targets.com reports. They currently have $40.00 price target on the stock.

A number of other analysts have also recently commented on DXC. Royal Bank of Canada boosted their target price on shares of DXC Technology from $42.00 to $47.00 and gave the stock an outperform rating in a research note on Thursday, August 5th. Susquehanna raised shares of DXC Technology from a neutral rating to a positive rating and set a $42.00 target price for the company in a research note on Tuesday, August 24th. Bank of America raised shares of DXC Technology from a neutral rating to a buy rating and set a $45.00 target price for the company in a research note on Tuesday, September 14th. JPMorgan Chase & Co. cut shares of DXC Technology from a neutral rating to an underweight rating and upped their price objective for the company from $42.00 to $45.00 in a research note on Tuesday, August 17th. Finally, Citigroup upped their price objective on shares of DXC Technology from $44.00 to $49.00 and gave the company a buy rating in a research note on Thursday, August 5th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, DXC Technology presently has a consensus rating of Buy and a consensus price target of $43.31.

DXC opened at $34.93 on Wednesday. The stock has a market capitalization of $8.80 billion, a price-to-earnings ratio of 27.72, a PEG ratio of 0.35 and a beta of 2.44. The company has a fifty day moving average of $37.72 and a two-hundred day moving average of $35.86. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.02 and a current ratio of 1.02. DXC Technology has a fifty-two week low of $15.82 and a fifty-two week high of $44.18.

DXC Technology (NYSE:DXC) last released its earnings results on Wednesday, August 4th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.09. The business had revenue of $4.14 billion during the quarter, compared to analysts’ expectations of $4.10 billion. DXC Technology had a net margin of 1.92% and a return on equity of 14.72%. The company’s quarterly revenue was down 8.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.21 earnings per share. On average, equities research analysts forecast that DXC Technology will post 3.6 earnings per share for the current year.

In other news, Director Raul J. Fernandez bought 1,195 shares of the firm’s stock in a transaction on Friday, August 13th. The shares were bought at an average cost of $40.99 per share, for a total transaction of $48,983.05. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Raul J. Fernandez bought 9,515 shares of the firm’s stock in a transaction on Tuesday, August 17th. The stock was purchased at an average price of $38.86 per share, for a total transaction of $369,752.90. Following the completion of the acquisition, the director now directly owns 45,807 shares in the company, valued at $1,780,060.02. The disclosure for this purchase can be found here. Insiders acquired a total of 17,791 shares of company stock worth $684,089 over the last quarter. 0.39% of the stock is currently owned by company insiders.

Several hedge funds have recently modified their holdings of DXC. Franklin Resources Inc. lifted its holdings in shares of DXC Technology by 143,299.2% in the 2nd quarter. Franklin Resources Inc. now owns 13,238,613 shares of the company’s stock worth $515,511,000 after acquiring an additional 13,229,381 shares during the last quarter. Point72 Asset Management L.P. lifted its holdings in DXC Technology by 147.5% during the 1st quarter. Point72 Asset Management L.P. now owns 7,517,578 shares of the company’s stock worth $234,999,000 after buying an additional 4,479,808 shares in the last quarter. Invesco Ltd. lifted its holdings in DXC Technology by 42.6% during the 2nd quarter. Invesco Ltd. now owns 6,738,539 shares of the company’s stock worth $262,399,000 after buying an additional 2,014,189 shares in the last quarter. Allianz Asset Management GmbH lifted its holdings in DXC Technology by 213.3% during the 2nd quarter. Allianz Asset Management GmbH now owns 2,339,491 shares of the company’s stock worth $91,100,000 after buying an additional 1,592,649 shares in the last quarter. Finally, FMR LLC lifted its holdings in DXC Technology by 15.1% during the 2nd quarter. FMR LLC now owns 10,764,613 shares of the company’s stock worth $419,174,000 after buying an additional 1,408,819 shares in the last quarter. Hedge funds and other institutional investors own 85.38% of the company’s stock.

DXC Technology Company Profile

DXC Technology Co provides technology consulting, outsourcing and support services. It operates through the following segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides technology solutions that help clients address challenges and accelerates the digital transformations that is tailored to each client’s specific objectives.

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Analyst Recommendations for DXC Technology (NYSE:DXC)

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