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

DXC Technology (NYSE:DXC) has been assigned an average recommendation of “Reduce” from the nine brokerages 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 12 month target price among brokers that have updated their coverage on the stock in the last year is $23.20.

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

Insider Activity at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of the 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 sale, the executive vice president now owns 124,806 shares in the company, valued at approximately $2,712,034.38. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.87% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in DXC. Quarry LP bought a new position in DXC Technology during the 2nd quarter worth $25,000. Point72 Europe London LLP bought a new position in DXC Technology during the 4th quarter worth $25,000. Belpointe Asset Management LLC increased its position in DXC Technology by 656.6% during the 1st quarter. Belpointe Asset Management LLC now owns 1,150 shares of the company’s stock worth $29,000 after buying an additional 998 shares during the period. Lazard Asset Management LLC increased its position in DXC Technology by 163.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,315 shares of the company’s stock worth $34,000 after buying an additional 815 shares during the period. Finally, Coppell Advisory Solutions LLC bought a new position in DXC Technology during the 2nd quarter worth $41,000. Institutional investors own 96.20% of the company’s stock.

DXC Technology Trading Down 1.1 %

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

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