Royal Bank of Canada Lowers DXC Technology (NYSE:DXC) Price Target to $39.00

DXC Technology (NYSE:DXC – Get Rating) had its target price dropped by stock analysts at Royal Bank of Canada from $47.00 to $39.00 in a research report issued to clients and investors on Thursday, The Fly reports. Royal Bank of Canada’s price target points to a potential upside of 22.95% from the stock’s current price.

Several other analysts also recently commented on the company. Susquehanna Bancshares dropped their price objective on DXC Technology from $42.00 to $41.00 in a research note on Thursday. Susquehanna dropped their price objective on DXC Technology from $42.00 to $41.00 in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on DXC Technology from $41.00 to $39.00 and set an “underweight” rating on the stock in a research note on Tuesday, March 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on DXC Technology from $53.00 to $48.00 in a report on Thursday. Finally, Zacks Investment Research upgraded DXC Technology from a “sell” rating to a “hold” rating and set a $37.00 target price for the company in a report on Friday, February 4th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $40.33.

Shares of DXC stock traded up $2.27 during trading hours on Thursday, reaching $31.72. The company had a trading volume of 36,754 shares, compared to its average volume of 2,093,842. The company has a 50 day moving average of $30.69 and a 200 day moving average of $31.88. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a market cap of $7.75 billion, a price-to-earnings ratio of -13.01, a P/E/G ratio of 0.26 and a beta of 2.15. DXC Technology has a 1-year low of $27.28 and a 1-year high of $44.18.

DXC Technology (NYSE:DXC – Get Rating) last posted 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 company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.12 billion. DXC Technology had a negative net margin of 3.67% and a positive return on equity of 16.81%. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. During the same period last year, the company earned $0.74 EPS. As a group, sell-side analysts forecast that DXC Technology will post 3.66 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Ellevest Inc. grew its holdings in DXC Technology by 141.3% during the first quarter. Ellevest Inc. now owns 753 shares of the company’s stock worth $25,000 after purchasing an additional 441 shares during the period. Cornerstone Advisory LLC bought a new position in DXC Technology during the fourth quarter worth about $37,000. Herold Advisors Inc. bought a new position in DXC Technology during the first quarter worth about $46,000. Assetmark Inc. grew its holdings in DXC Technology by 105.2% during the third quarter. Assetmark Inc. now owns 1,426 shares of the company’s stock worth $48,000 after purchasing an additional 731 shares during the period. Finally, Covestor Ltd bought a new position in DXC Technology during the fourth quarter worth about $55,000. Institutional investors own 89.41% of the company’s stock.

DXC Technology Company Profile (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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