DXC Technology Company. (NYSE:DXC) Given Average Recommendation of "Reduce" by Brokerages

Key Points

• DXC Technology has received an average broker rating of "Reduce", with one analyst recommending a sell and five recommending a hold; the average 12-month price target is $16.40.
• Hedge funds hold a significant portion of DXC Technology’s stock, with institutional investors owning 96.20% of the company, indicating strong confidence from large investors.
• In its latest earnings report, DXC Technology surpassed analyst expectations by posting earnings per share of $0.68, compared to the expected $0.64, despite a 2.4% year-over-year revenue decline.

Shares of DXC Technology Company. (NYSE:DXC - Get Free Report) have earned a consensus rating of "Reduce" from the six analysts that are presently covering the firm, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation and five have assigned a hold recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $16.40.

A number of analysts have issued reports on DXC shares. Wall Street Zen raised DXC Technology from a "hold" rating to a "buy" rating in a research report on Sunday, July 20th. Morgan Stanley cut their price target on DXC Technology from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Friday. Guggenheim restated a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. BMO Capital Markets cut their target price on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a research report on Thursday, May 15th. Finally, Royal Bank Of Canada reduced their target price on shares of DXC Technology from $18.00 to $16.00 and set a "sector perform" rating for the company in a research note on Friday.

Hedge Funds Weigh In On DXC Technology

Several hedge funds have recently bought and sold shares of the company. Teacher Retirement System of Texas grew its position in DXC Technology by 8.8% during the second quarter. Teacher Retirement System of Texas now owns 85,464 shares of the company's stock worth $1,307,000 after buying an additional 6,927 shares in the last quarter. State of New Jersey Common Pension Fund D grew its holdings in shares of DXC Technology by 23.9% during the second quarter. State of New Jersey Common Pension Fund D now owns 124,156 shares of the company's stock worth $1,898,000 after purchasing an additional 23,974 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of DXC Technology in the second quarter worth approximately $1,912,000. Allianz Asset Management GmbH raised its stake in DXC Technology by 18.2% in the second quarter. Allianz Asset Management GmbH now owns 668,978 shares of the company's stock valued at $10,229,000 after purchasing an additional 103,092 shares in the last quarter. Finally, New York State Teachers Retirement System raised its stake in DXC Technology by 0.9% in the second quarter. New York State Teachers Retirement System now owns 222,959 shares of the company's stock valued at $3,409,000 after purchasing an additional 2,069 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company's stock.

DXC Technology Price Performance

DXC opened at $12.87 on Friday. DXC Technology has a fifty-two week low of $12.24 and a fifty-two week high of $24.83. The firm has a 50-day moving average of $15.02 and a 200 day moving average of $16.74. The company has a debt-to-equity ratio of 0.86, a quick ratio of 1.22 and a current ratio of 1.22. The firm has a market cap of $2.33 billion, a P/E ratio of 6.25 and a beta of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last released its earnings results on Thursday, July 31st. The company reported $0.68 earnings per share for the quarter, beating analysts' consensus estimates of $0.64 by $0.04. DXC Technology had a net margin of 2.96% and a return on equity of 18.73%. The firm had revenue of $3.16 billion for the quarter, compared to analysts' expectations of $3.06 billion. During the same period in the previous year, the company earned $0.74 earnings per share. The company's quarterly revenue was down 2.4% on a year-over-year basis. On average, research analysts expect that DXC Technology will post 3.35 EPS for the current year.

DXC Technology Company Profile

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).

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