DXC Technology (NYSE:DXC) Rating Lowered to "Hold" at Wall Street Zen

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 report released on Thursday.

Several other research firms also recently commented on DXC. Royal Bank of Canada dropped their price objective on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating on the stock in a research note on Thursday, May 15th. Morgan Stanley cut their price target on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating for the company in a research note on Thursday, May 15th. JPMorgan Chase & Co. decreased their price objective on DXC Technology from $22.00 to $18.00 and set an "underweight" rating for the company in a report on Wednesday. Guggenheim reaffirmed a "neutral" rating on shares of DXC Technology in a report on Monday, May 12th. Finally, BMO Capital Markets reduced 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 note on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and six have assigned a hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $17.00.

DXC Technology Stock Performance

DXC Technology stock traded up $0.14 during mid-day trading on Thursday, reaching $14.90. 320,766 shares of the company's stock were exchanged, compared to its average volume of 1,659,595. The firm has a market capitalization of $2.70 billion, a PE ratio of -35.48, a P/E/G ratio of 1.16 and a beta of 1.18. 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 business's fifty day simple moving average is $15.79 and its 200 day simple moving average is $18.96. DXC Technology has a one year low of $13.44 and a one year high of $24.83.

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Newbridge Financial Services Group Inc. boosted its position in shares of DXC Technology by 116.1% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company's stock valued at $33,000 after acquiring an additional 900 shares during the period. Byrne Asset Management LLC bought a new position in DXC Technology in the 1st quarter valued at $33,000. Wealthquest Corp purchased a new stake in shares of DXC Technology in the first quarter worth $49,000. Meeder Asset Management Inc. bought a new stake in DXC Technology during the fourth quarter valued at $55,000. Finally, Smartleaf Asset Management LLC boosted its stake in DXC Technology by 366.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after buying an additional 2,356 shares during the period. Hedge funds and other institutional investors own 96.20% of the company's stock.

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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