DXC Technology (NYSE:DXC) Receives $23.20 Consensus Price Target from Analysts

DXC Technology (NYSE:DXC) has earned a consensus recommendation of “Reduce” from the nine analysts that are presently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation and six have given a hold recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $23.20.

DXC has been the topic of a number of research analyst reports. JPMorgan Chase & Co. downgraded shares of 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. Guggenheim assumed coverage on shares of DXC Technology in a research note on Tuesday, March 19th. They set a “neutral” rating and a $22.00 target price for the company. Royal Bank of Canada reaffirmed 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 dropped their price objective for the stock from $24.00 to $21.00 in a research note on Wednesday, January 17th.

Insider Activity at DXC Technology

In other news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the transaction, the executive vice president now directly owns 124,806 shares in the company, valued at $2,712,034.38. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.87% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. CHICAGO TRUST Co NA purchased a new stake in shares of DXC Technology during the 1st quarter worth about $202,000. Alaska Permanent Fund Corp grew its stake in DXC Technology by 16.7% during the 1st quarter. Alaska Permanent Fund Corp now owns 107,232 shares of the company’s stock worth $2,274,000 after buying an additional 15,320 shares during the last quarter. Quadrature Capital Ltd bought a new position in DXC Technology during the 4th quarter worth $609,000. Wellington Management Group LLP bought a new position in shares of DXC Technology in the fourth quarter worth $469,000. Finally, Teachers Retirement System of The State of Kentucky boosted its stake 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 valued at $23,593,000 after buying an additional 1,010,860 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

DXC Technology Trading Down 0.6 %

NYSE:DXC opened at $19.99 on Friday. DXC Technology has a one year low of $18.61 and a one year high of $28.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The company’s 50-day simple moving average is $21.10 and its 200 day simple moving average is $21.96. The firm has a market capitalization of $3.66 billion, a P/E ratio of -10.47, a PEG ratio of 1.82 and a beta of 1.85.

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

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).