DXC Technology (NYSE:DXC) Price Target Cut to $24.00

DXC Technology (NYSE:DXC) had its price target lowered by investment analysts at Royal Bank of Canada from $29.00 to $24.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank of Canada’s price target suggests a potential upside of 7.65% from the company’s previous close.

DXC has been the subject of a number of other reports. TD Cowen reiterated a “market perform” rating and issued a $25.00 target price (down from $34.00) on shares of DXC Technology in a report on Thursday, August 3rd. JPMorgan Chase & Co. decreased their target price on DXC Technology from $29.00 to $28.00 and set a “neutral” rating for the company in a report on Tuesday, August 22nd. Wolfe Research reaffirmed an “underperform” rating and set a $22.00 price target on shares of DXC Technology in a report on Tuesday, October 17th. BMO Capital Markets decreased their price target on DXC Technology from $25.00 to $23.00 and set a “market perform” rating for the company in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft downgraded DXC Technology from a “buy” rating to a “hold” rating and decreased their price target for the stock from $35.00 to $23.00 in a report on Thursday, August 3rd. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $24.60.

DXC Technology Trading Down 0.1 %

Shares of NYSE DXC opened at $22.30 on Thursday. DXC Technology has a twelve month low of $18.61 and a twelve month high of $30.27. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 1.08. The stock has a fifty day simple moving average of $20.78 and a 200-day simple moving average of $23.35. The stock has a market capitalization of $4.57 billion, a PE ratio of -9.03, a PEG ratio of 1.12 and a beta of 1.89.

DXC Technology (NYSE:DXC) last released its earnings results on Wednesday, November 1st. The company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.02. The firm had revenue of $3.44 billion during the quarter, compared to analyst estimates of $3.44 billion. DXC Technology had a positive return on equity of 17.75% and a negative net margin of 4.00%. DXC Technology’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.75 earnings per share. On average, equities analysts forecast that DXC Technology will post 3.15 earnings per share for the current year.

Insider Activity at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 75,000 shares of the company’s stock in a transaction dated Thursday, August 24th. The stock was sold at an average price of $20.72, for a total value of $1,554,000.00. Following the completion of the sale, the executive vice president now directly owns 142,908 shares of the company’s stock, valued at approximately $2,961,053.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Trading of DXC Technology

A number of large investors have recently made changes to their positions in DXC. Quarry LP purchased a new stake in DXC Technology during the 2nd quarter valued at approximately $25,000. North Star Investment Management Corp. raised its stake in DXC Technology by 3,054.8% during the 1st quarter. North Star Investment Management Corp. now owns 978 shares of the company’s stock valued at $25,000 after acquiring an additional 947 shares during the last quarter. Bartlett & Co. LLC purchased a new stake in DXC Technology during the 2nd quarter valued at approximately $27,000. Cornerstone Management Inc. purchased a new stake in DXC Technology during the 1st quarter valued at approximately $27,000. Finally, Belpointe Asset Management LLC raised its stake in DXC Technology by 656.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company’s stock valued at $29,000 after acquiring an additional 998 shares during the last quarter. 88.09% of the stock is owned by institutional investors and hedge funds.

DXC Technology Company Profile

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).