TD Cowen Cuts DXC Technology (NYSE:DXC) Price Target to $18.00

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

A number of other research firms have also issued reports on DXC. Morgan Stanley decreased their price objective on DXC Technology from $21.00 to $18.00 and set an equal weight rating on the stock in a research note on Friday, May 17th. Susquehanna cut their price objective on shares of DXC Technology from $22.00 to $15.00 and set a neutral rating for the company in a research report on Friday, May 17th. JPMorgan Chase & Co. lowered shares of DXC Technology from a neutral rating to an underweight rating and decreased their target price for the stock from $27.00 to $24.00 in a report on Wednesday, January 24th. Guggenheim started coverage on shares of DXC Technology in a report on Tuesday, March 19th. They issued a neutral rating and a $22.00 price target for the company. Finally, Stifel Nicolaus decreased their price target on shares of DXC Technology from $21.00 to $19.00 and set a hold rating on the stock in a report on Friday, May 17th. Three analysts have rated the stock with a sell rating and eight have given a hold rating to the company’s stock. According to data from MarketBeat, DXC Technology presently has an average rating of Hold and a consensus price target of $19.77.

DXC Technology Price Performance

NYSE DXC opened at $15.92 on Tuesday. The company 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 quick ratio of 1.11, a current ratio of 1.17 and a debt-to-equity ratio of 1.25. The firm’s 50-day simple moving average is $19.95 and its two-hundred day simple moving average is $21.61. DXC Technology has a 52 week low of $15.44 and a 52 week high of $28.89.

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

Insider Transactions at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $21.73, for a total transaction of $393,356.46. Following the transaction, the executive vice president now directly owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

Several institutional investors and hedge funds have recently made changes to their positions in DXC. Pacer Advisors Inc. boosted its position in DXC Technology by 86.8% during the fourth quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock valued at $188,317,000 after buying an additional 3,827,176 shares during the period. Glenview Capital Management LLC grew its position in DXC Technology by 33.6% during the 4th quarter. Glenview Capital Management LLC now owns 13,006,623 shares of the company’s stock worth $297,461,000 after acquiring an additional 3,272,212 shares during the last quarter. Invesco Ltd. grew its position in DXC Technology by 9.5% during the 3rd quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock worth $355,784,000 after acquiring an additional 1,478,484 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in DXC Technology by 19.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 8,468,575 shares of the company’s stock worth $193,679,000 after purchasing an additional 1,386,314 shares during the period. Finally, Jacobs Levy Equity Management Inc. lifted its position in DXC Technology by 3,407.2% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,411,199 shares of the company’s stock valued at $29,395,000 after purchasing an additional 1,370,962 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.

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).