DXC Technology (NYSE:DXC) Given Average Recommendation of “Reduce” by Analysts

DXC Technology (NYSE:DXC) has earned a consensus rating of “Reduce” from the nine brokerages that are covering the firm, Marketbeat reports. Three research analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1-year target price among brokerages that have issued ratings on the stock in the last year is $23.20.

A number of analysts have commented on the stock. Guggenheim started coverage on shares of DXC Technology in a report on Tuesday, March 19th. They set a “neutral” rating and a $22.00 target price for the company. JPMorgan Chase & Co. cut DXC Technology from a “neutral” rating to an “underweight” rating and lowered their price objective for the company from $27.00 to $24.00 in a research report on Wednesday, January 24th. Royal Bank of Canada restated a “sector perform” rating and set a $24.00 target price on shares of DXC Technology in a research note on Friday, February 2nd. Finally, Citigroup cut shares of DXC Technology from a “neutral” rating to a “sell” rating and lowered their target price for the company from $24.00 to $21.00 in a research note on Wednesday, January 17th.

DXC Technology Price Performance

DXC opened at $20.30 on Friday. DXC Technology has a 12-month low of $18.61 and a 12-month high of $28.89. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.15. The stock has a 50-day moving average price of $21.15 and a 200-day moving average price of $21.96. The stock has a market capitalization of $3.71 billion, a P/E ratio of -10.63, a PEG ratio of 1.90 and a beta of 1.85.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, February 1st. The company reported $0.87 EPS for the quarter, topping the consensus estimate of $0.77 by $0.10. The company had revenue of $3.40 billion for the quarter, compared to the consensus estimate of $3.36 billion. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The firm’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 earnings per share. Equities analysts predict that DXC Technology will post 3.03 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $21.73, for a total value of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares in the company, valued at approximately $2,712,034.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. CHICAGO TRUST Co NA purchased a new position in shares of DXC Technology during the first quarter worth $202,000. Alaska Permanent Fund Corp raised its stake in shares of DXC Technology by 16.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 107,232 shares of the company’s stock valued at $2,274,000 after buying an additional 15,320 shares during the last quarter. Quadrature Capital Ltd purchased a new position in shares of DXC Technology during the 4th quarter valued at about $609,000. Wellington Management Group LLP purchased a new stake in shares of DXC Technology in the fourth quarter worth about $469,000. Finally, Teachers Retirement System of The State of Kentucky grew its holdings in DXC Technology by 4,862.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 1,031,649 shares of the company’s stock worth $23,593,000 after acquiring an additional 1,010,860 shares during the period. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

About DXC Technology

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).