DXC Technology (NYSE:DXC) Price Target Cut to $16.00 by Analysts at Royal Bank Of Canada

Key Points

• Royal Bank of Canada has lowered its price target for DXC Technology from $18.00 to $16.00, indicating a potential upside of 28.62% from the previous close.
• The stock is currently rated as "sector perform" by Royal Bank of Canada, and five analysts have issued a hold rating while one has assigned a buy rating.
• DXC Technology reported a quarterly earnings per share of $0.68, exceeding the consensus estimate and showing a revenue of $3.16 billion despite a 2.4% year-over-year decline.

DXC Technology (NYSE:DXC - Get Free Report) had its price objective lowered by Royal Bank Of Canada from $18.00 to $16.00 in a research note issued on Friday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's target price would indicate a potential upside of 28.62% from the company's previous close.

A number of other equities analysts have also weighed in on the company. BMO Capital Markets lowered their target price on DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a research report on Thursday, May 15th. Morgan Stanley lowered their price objective on DXC Technology from $16.00 to $15.00 and set an "equal weight" rating for the company in a research note on Friday. Wall Street Zen upgraded DXC Technology from a "hold" rating to a "buy" rating in a report on Sunday, July 20th. Guggenheim reaffirmed a "neutral" rating on shares of DXC Technology in a report on Monday, May 12th. Finally, JPMorgan Chase & Co. dropped their price target on shares of DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $16.40.

DXC Technology Trading Down 8.6%

DXC traded down $1.17 during midday trading on Friday, hitting $12.44. 1,768,078 shares of the company were exchanged, compared to its average volume of 1,733,805. The firm's 50 day moving average price is $15.06 and its 200-day moving average price is $16.79. DXC Technology has a 1-year low of $12.24 and a 1-year high of $24.83. The firm has a market capitalization of $2.25 billion, a P/E ratio of 5.90 and a beta of 1.20. The company has a quick ratio of 1.22, a current ratio of 1.22 and a debt-to-equity ratio of 0.86.

DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The company reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.04. DXC Technology had a net margin of 3.02% and a return on equity of 19.36%. The firm had revenue of $3.16 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter last year, the business earned $0.74 EPS. The company's revenue was down 2.4% compared to the same quarter last year. As a group, equities analysts forecast that DXC Technology will post 3.35 EPS for the current fiscal year.

Institutional Trading of DXC Technology

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its stake in shares of DXC Technology by 1.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 10,599,848 shares of the company's stock worth $180,725,000 after buying an additional 163,291 shares during the last quarter. American Century Companies Inc. increased its stake in shares of DXC Technology by 11.8% in the first quarter. American Century Companies Inc. now owns 6,503,675 shares of the company's stock worth $110,888,000 after purchasing an additional 686,705 shares in the last quarter. LSV Asset Management increased its holdings in shares of DXC Technology by 22.7% in the 1st quarter. LSV Asset Management now owns 4,151,398 shares of the company's stock worth $70,781,000 after buying an additional 769,026 shares during the last quarter. AQR Capital Management LLC lifted its holdings in shares of DXC Technology by 2.8% in the 1st quarter. AQR Capital Management LLC now owns 1,997,247 shares of the company's stock valued at $33,254,000 after acquiring an additional 53,598 shares during the last quarter. Finally, Millennium Management LLC grew its position in DXC Technology by 1,765.9% in the first quarter. Millennium Management LLC now owns 1,652,331 shares of the company's stock worth $28,172,000 after acquiring an additional 1,563,775 shares in the last quarter. Institutional investors 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).

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