DXC Technology (NYSE:DXC) Given New $14.00 Price Target at TD Cowen

DXC Technology (NYSE:DXC) had its target price cut by TD Cowen from $15.00 to $14.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other equities analysts also recently commented on DXC. BMO Capital Markets boosted their target price on shares of DXC Technology from $15.00 to $17.00 and gave the stock a “market perform” rating in a report on Tuesday, February 3rd. Wolfe Research set a $13.00 target price on shares of DXC Technology and gave the stock an “underperform” rating in a report on Friday, January 30th. Wall Street Zen downgraded shares of DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Zacks Research downgraded shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Eight investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Reduce” and a consensus price target of $14.63.

DXC Technology Price Performance

DXC stock opened at $12.76 on Monday. DXC Technology has a one year low of $11.54 and a one year high of $17.26. The company’s fifty day moving average price is $12.91 and its 200-day moving average price is $13.60. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $2.17 billion, a PE ratio of 5.48 and a beta of 1.00.

DXC Technology (NYSE:DXC) last released its earnings results on Thursday, January 29th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The firm had revenue of $3.19 billion for the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm earned $0.92 earnings per share. The company’s quarterly revenue was down 1.0% compared to the same quarter last year. On average, equities analysts anticipate that DXC Technology will post 3.35 EPS for the current fiscal year.

Insiders Place Their Bets

In other DXC Technology news, CEO Raul J. Fernandez purchased 16,446 shares of DXC Technology stock in a transaction that occurred on Monday, February 2nd. The shares were bought at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the transaction, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. This trade represents a 2.06% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DXC Technology

Several large investors have recently bought and sold shares of DXC. Royal Bank of Canada increased its position in DXC Technology by 156.3% in the first quarter. Royal Bank of Canada now owns 99,930 shares of the company’s stock worth $1,703,000 after purchasing an additional 60,935 shares during the last quarter. Goldman Sachs Group Inc. increased its position in DXC Technology by 4.1% in the first quarter. Goldman Sachs Group Inc. now owns 1,239,558 shares of the company’s stock worth $21,134,000 after purchasing an additional 49,228 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in DXC Technology by 4.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 735,597 shares of the company’s stock worth $12,542,000 after purchasing an additional 34,544 shares during the last quarter. Creative Planning increased its position in DXC Technology by 83.9% in the second quarter. Creative Planning now owns 21,863 shares of the company’s stock worth $334,000 after purchasing an additional 9,972 shares during the last quarter. Finally, Norges Bank bought a new stake in DXC Technology in the second quarter worth $16,589,000. Institutional investors own 96.20% of the company’s stock.

About DXC Technology

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.