DXC Technology (NYSE:DXC) Price Target Cut to $43.00

DXC Technology (NYSE:DXCGet Rating) had its price objective lowered by investment analysts at Cowen from $45.00 to $43.00 in a note issued to investors on Thursday, Stock Target Advisor reports. The firm presently has an “outperform” rating on the stock. Cowen’s price objective would suggest a potential upside of 29.56% from the company’s current price.

Other analysts have also recently issued research reports about the company. Susquehanna Bancshares dropped their price objective on DXC Technology from $42.00 to $41.00 and set a “positive” rating for the company in a research report on Thursday. Zacks Investment Research raised DXC Technology from a “sell” rating to a “hold” rating and set a $37.00 price target on the stock in a research note on Friday, February 4th. Bank of America lowered DXC Technology from a “buy” rating to an “underperform” rating and decreased their price target for the stock from $45.00 to $30.00 in a research note on Wednesday, March 9th. Cowen decreased their price target on DXC Technology from $45.00 to $43.00 in a research note on Thursday. Finally, Royal Bank of Canada decreased their price target on DXC Technology from $47.00 to $39.00 in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, DXC Technology currently has a consensus rating of “Hold” and an average price target of $40.00.

NYSE:DXC traded up $3.74 during trading hours on Thursday, hitting $33.19. The company’s stock had a trading volume of 77,621 shares, compared to its average volume of 2,093,842. DXC Technology has a 52-week low of $27.28 and a 52-week high of $44.18. The company has a market capitalization of $8.11 billion, a PE ratio of -13.66, a PEG ratio of 0.26 and a beta of 2.15. The business’s 50-day moving average is $30.69 and its two-hundred day moving average is $31.88. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.12 and a current ratio of 1.12.

DXC Technology (NYSE:DXCGet Rating) last announced its quarterly earnings results on Wednesday, May 25th. The company reported $0.84 earnings per share for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.15). The firm had revenue of $4.01 billion during the quarter, compared to analysts’ expectations of $4.12 billion. DXC Technology had a negative net margin of 3.67% and a positive return on equity of 16.81%. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.74 EPS. As a group, analysts predict that DXC Technology will post 3.66 EPS for the current fiscal year.

Several large investors have recently made changes to their positions in DXC. Ellevest Inc. raised its holdings in shares of DXC Technology by 141.3% during the 1st quarter. Ellevest Inc. now owns 753 shares of the company’s stock valued at $25,000 after buying an additional 441 shares during the period. Cornerstone Advisory LLC purchased a new stake in shares of DXC Technology during the 4th quarter valued at about $37,000. Herold Advisors Inc. purchased a new stake in shares of DXC Technology during the 1st quarter valued at about $46,000. Assetmark Inc. raised its holdings in shares of DXC Technology by 105.2% during the 3rd quarter. Assetmark Inc. now owns 1,426 shares of the company’s stock valued at $48,000 after buying an additional 731 shares during the period. Finally, Covestor Ltd purchased a new stake in shares of DXC Technology during the 4th quarter valued at about $55,000. Institutional investors and hedge funds own 89.41% of the company’s stock.

About DXC Technology (Get Rating)

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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