DXC Technology (NYSE:DXC) Shares Down 6.3% After Analyst Downgrade

DXC Technology Company. (NYSE:DXC)’s stock price dropped 6.3% during trading on Tuesday after Zacks Research downgraded the stock from a hold rating to a strong sell rating. The stock traded as low as $13.70 and last traded at $13.8340. 355,739 shares were traded during mid-day trading, a decline of 91% from the average session volume of 3,849,061 shares. The stock had previously closed at $14.76.

Other analysts have also issued reports about the company. TD Cowen boosted their price target on DXC Technology from $10.00 to $12.00 and gave the company a “hold” rating in a report on Monday, August 3rd. Morgan Stanley boosted their target price on DXC Technology from $9.00 to $12.00 and gave the company an “equal weight” rating in a research note on Monday. Royal Bank Of Canada reduced their price target on DXC Technology from $16.00 to $14.00 and set a “sector perform” rating for the company in a research report on Friday, July 31st. Susquehanna lifted their price objective on shares of DXC Technology from $10.00 to $12.00 and gave the company a “neutral” rating in a report on Friday, October 30th. Finally, Weiss Ratings cut shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Six equities research analysts have rated the stock with a Hold rating and four have given a Sell rating to the stock. According to MarketBeat.com, DXC Technology currently has a consensus rating of “Reduce” and a consensus target price of $12.06.

Institutional Trading of DXC Technology

Several institutional investors and hedge funds have recently bought and sold shares of DXC. Bessemer Group Inc. boosted its stake in shares of DXC Technology by 61.1% during the 1st quarter. Bessemer Group Inc. now owns 3,680 shares of the company’s stock worth $47,000 after acquiring an additional 1,395 shares during the period. Farther Finance Advisors LLC raised its stake in DXC Technology by 289.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,396 shares of the company’s stock valued at $48,000 after acquiring an additional 3,266 shares during the period. Covestor Ltd raised its stake in DXC Technology by 31.2% in the 2nd quarter. Covestor Ltd now owns 6,603 shares of the company’s stock valued at $58,000 after acquiring an additional 1,570 shares during the period. Versant Capital Management Inc lifted its holdings in DXC Technology by 47.4% during the 2nd quarter. Versant Capital Management Inc now owns 7,474 shares of the company’s stock valued at $66,000 after purchasing an additional 2,404 shares during the last quarter. Finally, Parallel Advisors LLC lifted its holdings in DXC Technology by 77.8% during the 3rd quarter. Parallel Advisors LLC now owns 9,092 shares of the company’s stock valued at $98,000 after purchasing an additional 3,979 shares during the last quarter. Institutional investors own 96.20% of the company’s stock.

DXC Technology Stock Performance

The company has a debt-to-equity ratio of 0.64, a current ratio of 1.15 and a quick ratio of 1.41. The stock’s 50-day simple moving average is $12.51 and its 200 day simple moving average is $11.59. The stock has a market capitalization of $2.36 billion, a P/E ratio of 23.37 and a beta of 0.76.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.12. The company had revenue of $3.03 billion for the quarter, compared to analyst estimates of $2.98 billion. DXC Technology had a net margin of 0.91% and a return on equity of 14.35%. The company’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.84 earnings per share. Research analysts expect that DXC Technology Company. will post 2.36 EPS for the current fiscal year.

About DXC Technology

DXC Technology (NYSE: DXC) is a global information technology services and solutions company that helps organizations modernize and manage their technology environments. Its services include consulting, application development and management, cloud migration and operations, cybersecurity, data and analytics, enterprise technology management, and workplace and end-user services.

The company serves businesses and government organizations across a range of industries, including financial services, healthcare, insurance, manufacturing, aerospace and defense, automotive, retail, and the public sector.