JPMorgan Chase & Co. Has Lowered Expectations for DXC Technology (NYSE:DXC) Stock Price

DXC Technology (NYSE:DXC) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $22.00 to $18.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “underweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 18.19% from the stock’s current price.

A number of other analysts have also weighed in on the company. Morgan Stanley lowered their target price on DXC Technology from $22.00 to $16.00 and set an “equal weight” rating for the company in a research note on Thursday, May 15th. Susquehanna lowered their target price on DXC Technology from $23.00 to $16.00 and set a “neutral” rating for the company in a research note on Wednesday, April 23rd. BMO Capital Markets lowered their target price on DXC Technology from $26.00 to $17.00 and set a “market perform” rating for the company in a research note on Thursday, May 15th. Royal Bank of Canada lowered their target price on DXC Technology from $27.00 to $18.00 and set a “sector perform” rating for the company in a research note on Thursday, May 15th. Finally, Guggenheim restated a “neutral” rating on shares of DXC Technology in a research note on Monday, May 12th. One analyst has rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, DXC Technology presently has an average rating of “Hold” and a consensus price target of $17.00.

DXC Technology Stock Performance

DXC Technology stock opened at $15.23 on Wednesday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34. The stock has a fifty day moving average price of $15.74 and a two-hundred day moving average price of $18.93. DXC Technology has a 52-week low of $13.44 and a 52-week high of $24.83. The firm has a market capitalization of $2.76 billion, a P/E ratio of -36.26, a P/E/G ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. The firm had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The business’s revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, analysts anticipate that DXC Technology will post 3.35 EPS for the current fiscal year.

Institutional Trading of DXC Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Treasurer of the State of North Carolina boosted its holdings in DXC Technology by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 78,639 shares of the company’s stock worth $1,571,000 after buying an additional 490 shares during the last quarter. Arizona State Retirement System boosted its holdings in DXC Technology by 1.1% during the fourth quarter. Arizona State Retirement System now owns 52,475 shares of the company’s stock worth $1,048,000 after buying an additional 566 shares during the last quarter. Vident Advisory LLC boosted its holdings in DXC Technology by 2.5% during the fourth quarter. Vident Advisory LLC now owns 25,279 shares of the company’s stock worth $505,000 after buying an additional 624 shares during the last quarter. Highland Capital Management LLC boosted its holdings in DXC Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company’s stock worth $237,000 after buying an additional 731 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in DXC Technology by 2.3% during the fourth quarter. Corient Private Wealth LLC now owns 32,796 shares of the company’s stock worth $655,000 after buying an additional 740 shares during the last quarter. 96.20% 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 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).