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

DXC Technology (NYSE:DXC - Get Free Report) has received an average rating of "Reduce" from the six brokerages that are covering the company, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation and five have given a hold recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $17.00.

DXC has been the topic of several research analyst reports. Susquehanna decreased their price target 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. BMO Capital Markets decreased their price target on 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. Royal Bank of Canada decreased their price target 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 reduced their target price on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Thursday, May 15th. Finally, JPMorgan Chase & Co. reduced their target price on DXC Technology from $22.00 to $18.00 and set an "underweight" rating on the stock in a research note on Wednesday.

DXC Technology Price Performance

Shares of NYSE:DXC traded down $0.42 during trading on Monday, hitting $14.75. 1,430,999 shares of the stock were exchanged, compared to its average volume of 1,670,714. The company has a fifty day moving average price of $15.69 and a two-hundred day moving average price of $18.89. The company has a market cap of $2.67 billion, a PE ratio of -35.11, a P/E/G ratio of 1.16 and a beta of 1.18. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. DXC Technology has a 12-month low of $13.44 and a 12-month high of $24.83.

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

Institutional Investors Weigh In On DXC Technology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Newbridge Financial Services Group Inc. lifted its stake in DXC Technology by 116.1% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company's stock valued at $33,000 after buying an additional 900 shares in the last quarter. Byrne Asset Management LLC purchased a new position in shares of DXC Technology during the 1st quarter worth $33,000. Wealthquest Corp purchased a new position in shares of DXC Technology during the 1st quarter worth $49,000. Meeder Asset Management Inc. purchased a new position in shares of DXC Technology during the 4th quarter worth $55,000. Finally, Smartleaf Asset Management LLC lifted its stake in shares of DXC Technology by 366.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock worth $60,000 after purchasing an additional 2,356 shares during the period. Hedge funds and other 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).