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 decreased by analysts at Royal Bank Of Canada from $18.00 to $16.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a "sector perform" rating on the stock. Royal Bank Of Canada's price objective would indicate a potential upside of 19.08% from the company's current price.

Several other equities analysts have also issued reports on DXC. Wall Street Zen raised DXC Technology from a "hold" rating to a "buy" rating in a research note on Sunday, July 20th. BMO Capital Markets reduced their price objective on DXC Technology from $26.00 to $17.00 and set a "market perform" rating for the company in a report on Thursday, May 15th. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. JPMorgan Chase & Co. decreased their target price on DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a research report on Wednesday, May 21st. Finally, Susquehanna cut their price objective on DXC Technology from $23.00 to $16.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. One 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 stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $16.40.

DXC Technology Stock Up 0.7%

Shares of DXC stock traded up $0.10 during trading hours on Friday, reaching $13.44. 1,043,826 shares of the company's stock were exchanged, compared to its average volume of 1,755,032. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.90. DXC Technology has a 1 year low of $12.24 and a 1 year high of $24.83. The stock has a market cap of $2.44 billion, a PE ratio of 6.52 and a beta of 1.18. The stock's fifty day moving average price is $15.00 and its two-hundred day moving average price is $16.64.

DXC Technology (NYSE:DXC - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The company reported $0.68 EPS for the quarter, beating the consensus estimate of $0.64 by $0.04. The firm had revenue of $3.16 billion during the quarter, compared to the consensus estimate of $3.06 billion. DXC Technology had a return on equity of 18.59% and a net margin of 2.96%. The firm's revenue was down 2.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.74 EPS. Research analysts predict that DXC Technology will post 3.35 EPS for the current year.

Hedge Funds Weigh In On DXC Technology

Several hedge funds have recently modified their holdings of DXC. Byrne Asset Management LLC acquired a new stake in DXC Technology during the first quarter worth approximately $33,000. Signaturefd LLC increased its holdings in shares of DXC Technology by 187.3% during the second quarter. Signaturefd LLC now owns 3,054 shares of the company's stock worth $47,000 after purchasing an additional 1,991 shares during the period. Wealthquest Corp bought a new stake in shares of DXC Technology during the first quarter worth $49,000. GAMMA Investing LLC grew its stake in shares of DXC Technology by 37.4% during the first quarter. GAMMA Investing LLC now owns 4,507 shares of the company's stock worth $77,000 after buying an additional 1,226 shares during the last quarter. Finally, Quarry LP grew its stake in shares of DXC Technology by 604.1% during the fourth quarter. Quarry LP now owns 3,978 shares of the company's stock worth $79,000 after buying an additional 3,413 shares during 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).