DXC Technology (NYSE:DXC) Price Target Raised to $12.00

Key Points

• Susquehanna raised DXC Technology’s price target from $10.00 to $12.00 while maintaining a neutral rating; the new target implied 20.59% downside from the prior close.
• Analyst sentiment remains cautious, with seven Hold ratings and two Sell ratings producing a consensus “Reduce” rating and an average price target of $11.93.
• DXC reported quarterly EPS of $0.67, exceeding the $0.55 estimate, while revenue of $3.03 billion also topped forecasts but fell 4.1% year over year.

DXC Technology (NYSE:DXC - Get Free Report) had its target price hoisted by equities researchers at Susquehanna from $10.00 to $12.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm currently has a "neutral" rating on the stock. Susquehanna's target price points to a potential downside of 20.59% from the company's previous close.

Several other equities analysts have also issued reports on the company. Stifel Nicolaus decreased their target price on DXC Technology from $12.00 to $10.50 and set a "hold" rating on the stock in a research note on Friday, July 31st. Royal Bank Of Canada reduced their target price on DXC Technology from $16.00 to $14.00 and set a "sector perform" rating on the stock in a research note on Friday, July 31st. Weiss Ratings raised DXC Technology from a "sell (d)" rating to a "sell (d+)" rating in a research report on Tuesday, October 6th. Morgan Stanley set a $12.00 price objective on shares of DXC Technology in a research note on Monday, August 3rd. Finally, Zacks Research upgraded DXC Technology from a "strong sell" rating to a "hold" rating in a research note on Monday, July 13th. Seven investment analysts have rated the stock with a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Reduce" and a consensus target price of $11.93.

DXC Technology Trading Down 6.1%

DXC Technology stock opened at $15.11 on Friday. The stock has a market cap of $2.41 billion, a PE ratio of 21.59 and a beta of 0.79. The company has a current ratio of 1.41, a quick ratio of 1.41 and a debt-to-equity ratio of 0.90. The stock has a 50-day moving average price of $12.20 and a 200 day moving average price of $11.59. DXC Technology has a 52 week low of $7.90 and a 52 week high of $16.38.

DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly earnings data on Thursday, October 29th. The company reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.55 by $0.12. DXC Technology had a return on equity of 15.60% and a net margin of 0.99%. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. During the same period last year, the business posted $0.84 EPS. The company's quarterly revenue was down 4.1% compared to the same quarter last year. Equities research analysts predict that DXC Technology will post 2.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On DXC Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DXC. Yousif Capital Management LLC increased its position in shares of DXC Technology by 2.1% during the third quarter. Yousif Capital Management LLC now owns 57,828 shares of the company's stock worth $626,000 after acquiring an additional 1,170 shares in the last quarter. Versant Capital Management Inc increased its position in DXC Technology by 16.2% in the third quarter. Versant Capital Management Inc now owns 8,682 shares of the company's stock worth $94,000 after buying an additional 1,208 shares during the last quarter. Cidel Asset Management Inc. raised its stake in DXC Technology by 9.1% in the 3rd quarter. Cidel Asset Management Inc. now owns 15,516 shares of the company's stock valued at $168,000 after acquiring an additional 1,299 shares during the period. Bessemer Group Inc. boosted its position in DXC Technology by 61.1% during the first quarter. Bessemer Group Inc. now owns 3,680 shares of the company's stock worth $47,000 after purchasing an additional 1,395 shares during the period. Finally, Covestor Ltd lifted its stake in shares of DXC Technology by 31.2% during the 2nd quarter. Covestor Ltd now owns 6,603 shares of the company's stock valued at $58,000 after buying an additional 1,570 shares in the last quarter. Institutional investors own 96.20% of the company's stock.

DXC Technology Company Profile

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.

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