BMO Capital Markets Lowers DXC Technology (NYSE:DXC) Price Target to $23.00

DXC Technology (NYSE:DXC) had its price target lowered by BMO Capital Markets from $25.00 to $23.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a “market perform” rating on the stock. BMO Capital Markets’ price target points to a potential upside of 3.14% from the company’s previous close.

Several other equities analysts have also recently issued reports on DXC. Wolfe Research reaffirmed an “underperform” rating and set a $22.00 price objective on shares of DXC Technology in a report on Tuesday, October 17th. TD Cowen reaffirmed a “market perform” rating and set a $25.00 price objective (down from $34.00) on shares of DXC Technology in a report on Thursday, August 3rd. Royal Bank of Canada cut DXC Technology from an “outperform” rating to a “sector perform” rating and reduced their price objective for the stock from $34.00 to $29.00 in a report on Thursday, August 3rd. Citigroup cut DXC Technology from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $32.00 to $25.00 in a report on Thursday, August 3rd. Finally, Morgan Stanley reduced their price objective on DXC Technology from $25.00 to $23.00 and set an “equal weight” rating for the company in a report on Friday, August 4th. Two analysts have rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $24.60.

DXC Technology Stock Down 0.0 %

DXC opened at $22.30 on Friday. The company has a debt-to-equity ratio of 1.08, a current ratio of 1.14 and a quick ratio of 1.14. The business has a 50 day simple moving average of $20.78 and a 200-day simple moving average of $23.34. The stock has a market capitalization of $4.58 billion, a P/E ratio of -9.03, a P/E/G ratio of 1.12 and a beta of 1.89. DXC Technology has a 12 month low of $18.61 and a 12 month high of $30.27.

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

Insider Activity

In related news, EVP William L. Deckelman, Jr. sold 75,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 142,908 shares in the company, valued at $2,961,053.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.87% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

Several institutional investors have recently added to or reduced their stakes in DXC. Quarry LP acquired a new stake in DXC Technology during the second quarter worth about $25,000. North Star Investment Management Corp. increased its stake in DXC Technology by 3,054.8% during the first quarter. North Star Investment Management Corp. now owns 978 shares of the company’s stock worth $25,000 after acquiring an additional 947 shares during the last quarter. Bartlett & Co. LLC acquired a new stake in DXC Technology during the second quarter worth about $27,000. Cornerstone Management Inc. acquired a new stake in DXC Technology during the first quarter worth about $27,000. Finally, Belpointe Asset Management LLC increased its stake in DXC Technology by 656.6% during the first quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company’s stock worth $29,000 after acquiring an additional 998 shares during the last quarter. 88.09% of the stock is currently 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).