DXC Technology (NYSE:DXC) Receives $23.20 Average PT from Brokerages

Shares of DXC Technology (NYSE:DXC) have received an average rating of “Reduce” from the nine research firms that are currently covering the firm, MarketBeat reports. Three analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $23.20.

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

Insiders Place Their Bets

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the business’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value of $393,356.46. Following the transaction, the executive vice president now owns 124,806 shares of the company’s stock, valued at $2,712,034.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in DXC. Quarry LP purchased a new position in shares of DXC Technology during the 2nd quarter valued at $25,000. Point72 Europe London LLP purchased a new position in shares of DXC Technology during the 4th quarter valued at $25,000. Belpointe Asset Management LLC lifted its position in shares of DXC Technology by 656.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company’s stock valued at $29,000 after buying an additional 998 shares during the last quarter. Lazard Asset Management LLC lifted its position in shares of DXC Technology by 163.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,315 shares of the company’s stock valued at $34,000 after buying an additional 815 shares during the last quarter. Finally, Coppell Advisory Solutions LLC purchased a new position in shares of DXC Technology during the 2nd quarter valued at $41,000. Hedge funds and other institutional investors own 96.20% of the company’s stock.

DXC Technology Trading Down 1.1 %

NYSE DXC opened at $19.58 on Friday. The company has a market cap of $3.58 billion, a price-to-earnings ratio of -10.25, a P/E/G ratio of 1.79 and a beta of 1.85. DXC Technology has a 52 week low of $18.61 and a 52 week high of $28.89. The business has a 50 day moving average price of $21.02 and a 200-day moving average price of $21.93. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 1.15.

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

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).