DXC Technology (NYSE:DXC) Downgraded by Wall Street Zen to "Hold"

DXC Technology (NYSE:DXC - Get Free Report) was downgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Thursday.

A number of other equities research analysts also recently issued reports on DXC. Morgan Stanley reduced their price target on shares of DXC Technology from $22.00 to $16.00 and set an "equal weight" rating for the company in a research report on Thursday, May 15th. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a research report on Monday, May 12th. BMO Capital Markets lowered their price objective on shares of DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a research note on Thursday, May 15th. Susquehanna cut their target price on shares of DXC Technology from $23.00 to $16.00 and set a "neutral" rating for the company in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. lowered 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 and six have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $17.00.

DXC Technology Stock Performance

NYSE:DXC traded up $0.36 during midday trading on Thursday, reaching $15.11. The stock had a trading volume of 757,817 shares, compared to its average volume of 1,666,631. DXC Technology has a 12-month low of $13.44 and a 12-month high of $24.83. The company has a quick ratio of 1.34, a current ratio of 1.34 and a debt-to-equity ratio of 1.12. The firm has a fifty day simple moving average of $15.64 and a two-hundred day simple moving average of $18.79. The stock has a market cap of $2.74 billion, a P/E ratio of -35.93, a P/E/G ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last released its quarterly earnings data on Wednesday, May 14th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.08. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. The firm had revenue of $3.17 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same quarter in the prior year, the business posted $0.97 earnings per share. DXC Technology's revenue was down 6.4% compared to the same quarter last year. On average, equities analysts expect that DXC Technology will post 3.35 EPS for the current year.

Institutional Investors Weigh In On DXC Technology

Several hedge funds have recently made changes to their positions in the business. Treasurer of the State of North Carolina raised its stake in shares of DXC Technology by 0.6% during the fourth quarter. Treasurer of the State of North Carolina now owns 78,639 shares of the company's stock valued at $1,571,000 after purchasing an additional 490 shares during the period. Arizona State Retirement System grew its holdings in DXC Technology by 1.1% during the 4th quarter. Arizona State Retirement System now owns 52,475 shares of the company's stock valued at $1,048,000 after purchasing an additional 566 shares in the last quarter. Vident Advisory LLC grew its holdings in DXC Technology by 2.5% during the 4th quarter. Vident Advisory LLC now owns 25,279 shares of the company's stock valued at $505,000 after purchasing an additional 624 shares in the last quarter. Highland Capital Management LLC increased its stake in DXC Technology by 6.6% during the 4th quarter. Highland Capital Management LLC now owns 11,850 shares of the company's stock worth $237,000 after buying an additional 731 shares during the period. Finally, Corient Private Wealth LLC lifted its holdings in DXC Technology by 2.3% in the 4th quarter. Corient Private Wealth LLC now owns 32,796 shares of the company's stock worth $655,000 after buying an additional 740 shares in the last quarter. Institutional investors and hedge funds 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).