DXC Technology (NYSE:DXC) Trading Down 4% Following Analyst Downgrade

DXC Technology (NYSE:DXC)’s share price traded down 4% during mid-day trading on Friday after Royal Bank of Canada lowered their price target on the stock from $27.00 to $18.00. Royal Bank of Canada currently has a sector perform rating on the stock. DXC Technology traded as low as $15.45 and last traded at $15.38. 144,182 shares traded hands during trading, a decline of 92% from the average session volume of 1,742,457 shares. The stock had previously closed at $16.02.

A number of other research analysts have also issued reports on DXC. Morgan Stanley reduced their target price on shares of DXC Technology from $22.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday. BMO Capital Markets reduced their target price on shares of DXC Technology from $26.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday. Guggenheim restated a “neutral” rating on shares of DXC Technology in a research report on Monday, May 12th. Finally, Susquehanna dropped their price target on shares of DXC Technology from $23.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, DXC Technology presently has a consensus rating of “Hold” and a consensus target price of $18.00.

Institutional Trading of DXC Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in DXC. Franklin Resources Inc. raised its position in shares of DXC Technology by 2.4% during the 3rd quarter. Franklin Resources Inc. now owns 63,230 shares of the company’s stock worth $1,272,000 after buying an additional 1,502 shares in the last quarter. Assenagon Asset Management S.A. raised its holdings in shares of DXC Technology by 4,893.5% in the 4th quarter. Assenagon Asset Management S.A. now owns 669,576 shares of the company’s stock worth $13,378,000 after purchasing an additional 656,167 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of DXC Technology by 5.6% in the 4th quarter. Exchange Traded Concepts LLC now owns 48,733 shares of the company’s stock worth $974,000 after purchasing an additional 2,564 shares in the last quarter. KBC Group NV raised its holdings in shares of DXC Technology by 2,380.1% in the 4th quarter. KBC Group NV now owns 142,505 shares of the company’s stock worth $2,847,000 after purchasing an additional 136,759 shares in the last quarter. Finally, Twelve Points Wealth Management LLC raised its holdings in shares of DXC Technology by 20.9% in the 4th quarter. Twelve Points Wealth Management LLC now owns 83,467 shares of the company’s stock worth $1,668,000 after purchasing an additional 14,445 shares in the last quarter. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Price Performance

The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. The business’s fifty day moving average is $15.90 and its 200 day moving average is $19.07. The firm has a market capitalization of $2.76 billion, a P/E ratio of -36.32, a P/E/G ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC) last released its earnings results on Wednesday, May 14th. The company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.08. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The business had revenue of $3.17 billion for the quarter, compared to the consensus estimate of $3.13 billion. As a group, analysts forecast that DXC Technology will post 3.35 EPS for the current year.

About DXC Technology

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).