DXC Technology (NYSE:DXC) Receives Average Recommendation of “Reduce” from Brokerages

DXC Technology (NYSE:DXC) has received an average recommendation of “Reduce” from the eleven ratings firms that are presently covering the company, Marketbeat.com reports. Three equities research analysts have rated the stock with a sell rating and eight have issued a hold rating on the company. The average twelve-month price objective among brokerages that have updated their coverage on the stock in the last year is $19.77.

Several analysts recently issued reports on DXC shares. TD Cowen decreased their price objective on shares of DXC Technology from $22.00 to $18.00 and set a “hold” rating for the company in a report on Tuesday, May 21st. Stifel Nicolaus reduced their price target on shares of DXC Technology from $21.00 to $19.00 and set a “hold” rating for the company in a report on Friday, May 17th. Guggenheim initiated coverage on shares of DXC Technology in a report on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price target for the company. BMO Capital Markets reduced their price target on shares of DXC Technology from $23.00 to $17.50 and set a “market perform” rating for the company in a report on Friday, May 17th. Finally, Morgan Stanley reduced their price target on shares of DXC Technology from $21.00 to $18.00 and set an “equal weight” rating for the company in a report on Friday, May 17th.

DXC Technology Price Performance

NYSE DXC opened at $16.55 on Monday. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $18.78 and a 200 day simple moving average of $21.09. The company has a market cap of $2.96 billion, a P/E ratio of 44.73, a P/E/G ratio of 1.89 and a beta of 1.73. DXC Technology has a 1 year low of $14.78 and a 1 year high of $28.89.

DXC Technology (NYSE:DXC) last posted its quarterly earnings data on Thursday, May 16th. The company reported $0.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.14. The business had revenue of $3.39 billion during the quarter, compared to the consensus estimate of $3.37 billion. DXC Technology had a net margin of 0.67% and a return on equity of 18.43%. DXC Technology’s quarterly revenue was down 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.02 EPS. On average, sell-side analysts predict that DXC Technology will post 2.73 EPS for the current year.

Institutional Investors Weigh In On DXC Technology

A number of hedge funds have recently made changes to their positions in the company. Invesco Ltd. increased its position in shares of DXC Technology by 9.5% during the 3rd quarter. Invesco Ltd. now owns 17,080,376 shares of the company’s stock worth $355,784,000 after purchasing an additional 1,478,484 shares in the last quarter. Glenview Capital Management LLC increased its position in shares of DXC Technology by 33.6% during the 4th quarter. Glenview Capital Management LLC now owns 13,006,623 shares of the company’s stock worth $297,461,000 after purchasing an additional 3,272,212 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of DXC Technology by 19.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 8,468,575 shares of the company’s stock worth $193,679,000 after purchasing an additional 1,386,314 shares in the last quarter. Pacer Advisors Inc. increased its position in shares of DXC Technology by 86.8% during the 4th quarter. Pacer Advisors Inc. now owns 8,234,245 shares of the company’s stock worth $188,317,000 after purchasing an additional 3,827,176 shares in the last quarter. Finally, FIL Ltd increased its position in shares of DXC Technology by 4.2% during the 4th quarter. FIL Ltd now owns 6,598,101 shares of the company’s stock worth $150,899,000 after purchasing an additional 267,480 shares in the last quarter. Institutional investors and hedge funds own 96.20% of the company’s stock.

About DXC Technology

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).