DXC Technology (NYSE:DXC) Receives Average Recommendation of “Reduce” from Brokerages

DXC Technology (NYSE:DXC) has been given a consensus recommendation of “Reduce” by the eleven research firms that are presently covering the stock, Marketbeat.com reports. Three analysts have rated the stock with a sell recommendation and eight have assigned a hold recommendation to the company. The average 1-year price target among brokers that have covered the stock in the last year is $20.14.

DXC has been the topic of several research analyst reports. Royal Bank of Canada reduced their target price on DXC Technology from $24.00 to $18.00 and set a “sector perform” rating on the stock in a research note on Friday, May 17th. TD Cowen dropped their target price on shares of DXC Technology from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, May 21st. Guggenheim began coverage on shares of DXC Technology in a research report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 price target on the stock. Stifel Nicolaus cut their price objective on DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a research report on Friday, May 17th. Finally, BMO Capital Markets decreased their target price on DXC Technology from $23.00 to $17.50 and set a “market perform” rating for the company in a research report on Friday, May 17th.

Institutional Investors Weigh In On DXC Technology

Hedge funds have recently added to or reduced their stakes in the stock. Pacer Advisors Inc. raised its position in shares of DXC Technology by 86.8% in the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock worth $188,317,000 after purchasing an additional 3,827,176 shares during the last quarter. Glenview Capital Management LLC raised its holdings in DXC Technology by 33.6% in the fourth quarter. Glenview Capital Management LLC now owns 13,006,623 shares of the company’s stock worth $297,461,000 after buying an additional 3,272,212 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of DXC Technology by 19.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 8,468,575 shares of the company’s stock worth $193,679,000 after buying an additional 1,386,314 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of DXC Technology by 3,407.2% during 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 buying an additional 1,370,962 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its position in shares of DXC Technology by 4,862.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,031,649 shares of the company’s stock valued at $23,593,000 after acquiring an additional 1,010,860 shares in the last quarter. 96.20% of the stock is owned by institutional investors.

DXC Technology Trading Down 0.3 %

NYSE:DXC opened at $18.20 on Friday. The firm has a market capitalization of $3.28 billion, a P/E ratio of 49.19, a P/E/G ratio of 2.09 and a beta of 1.73. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.25. The company has a fifty day moving average of $17.95 and a 200 day moving average of $20.43. DXC Technology has a 52 week low of $14.78 and a 52 week high of $28.89.

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

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions 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).