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

Shares of DXC Technology (NYSE:DXC) have earned a consensus recommendation of “Reduce” from the six analysts that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $17.00.

DXC has been the subject of a number of research reports. Royal Bank of Canada decreased their target price on shares of 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. BMO Capital Markets reduced their price objective 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, May 15th. Guggenheim reaffirmed a “neutral” rating on shares of DXC Technology in a research note on Monday, May 12th. Wall Street Zen lowered shares of DXC Technology from a “buy” rating to a “hold” rating in a research note on Thursday. Finally, Morgan Stanley reduced their price objective 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, May 15th.

DXC Technology Trading Down 2.8%

Shares of NYSE:DXC opened at $14.75 on Monday. The firm has a fifty day moving average of $15.69 and a two-hundred day moving average of $18.89. The firm has a market capitalization of $2.67 billion, a P/E ratio of -35.11, a price-to-earnings-growth ratio of 1.16 and a beta of 1.18. DXC Technology has a 12-month low of $13.44 and a 12-month high of $24.83. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.12.

DXC Technology (NYSE:DXC) last issued its earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. The company had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.13 billion. DXC Technology had a negative net margin of 0.57% and a positive return on equity of 20.70%. The company’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter last year, the business posted $0.97 EPS. On average, equities analysts expect that DXC Technology will post 3.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Bayforest Capital Ltd bought a new position in DXC Technology in the 1st quarter worth $303,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in DXC Technology by 4.9% in the 1st 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 acquiring an additional 34,544 shares during the period. Caxton Associates LLP bought a new position in DXC Technology in the 1st quarter worth $354,000. Goldman Sachs Group Inc. raised its holdings in DXC Technology by 4.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,239,558 shares of the company’s stock worth $21,134,000 after acquiring an additional 49,228 shares during the period. Finally, Millennium Management LLC raised its holdings in DXC Technology by 1,765.9% in the 1st quarter. Millennium Management LLC now owns 1,652,331 shares of the company’s stock worth $28,172,000 after acquiring an additional 1,563,775 shares during the period. Institutional investors own 96.20% of the company’s stock.

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).