DXC Technology (NYSE:DXC) Price Target Cut to $18.00 by Analysts at JPMorgan Chase & Co.

DXC Technology (NYSE:DXC - Get Free Report) had its price objective dropped by research analysts at JPMorgan Chase & Co. from $22.00 to $18.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price objective would indicate a potential upside of 22.07% from the company's previous close.

Several other research firms have also issued reports 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 for the company in a research note on Thursday, May 15th. Guggenheim reiterated a "neutral" rating on shares of DXC Technology in a research note on Monday, May 12th. Susquehanna decreased their target price on DXC Technology from $23.00 to $16.00 and set a "neutral" rating on the stock in a report on Wednesday, April 23rd. Morgan Stanley decreased their target price on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating on the stock in a report on Thursday, May 15th. Finally, BMO Capital Markets decreased their target price on DXC Technology from $26.00 to $17.00 and set a "market perform" rating on the stock in a report on Thursday, May 15th. One research analyst has rated the stock with a sell rating and six have given a hold rating to the company's stock. According to MarketBeat, DXC Technology currently has a consensus rating of "Hold" and a consensus target price of $17.00.

DXC Technology Price Performance

DXC Technology stock traded down $0.42 during mid-day trading on Wednesday, hitting $14.75. 1,430,999 shares of the company were exchanged, compared to its average volume of 1,667,731. 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 has a fifty day moving average of $15.69 and a 200 day moving average of $18.84. DXC Technology has a 1-year low of $13.44 and a 1-year high of $24.83. The company has a market capitalization of $2.67 billion, a PE ratio of -35.11, a price-to-earnings-growth 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 analyst estimates of $3.13 billion. During the same period in the prior year, the company posted $0.97 earnings per share. The business's revenue for the quarter was down 6.4% compared to the same quarter last year. As a group, sell-side analysts expect that DXC Technology will post 3.35 earnings per share for the current year.

Institutional Trading of DXC Technology

Large investors have recently made changes to their positions in the business. US Bancorp DE grew its holdings in shares of DXC Technology by 17.3% during the fourth quarter. US Bancorp DE now owns 13,406 shares of the company's stock worth $268,000 after purchasing an additional 1,977 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in DXC Technology by 55.4% in the fourth quarter. Sterling Capital Management LLC now owns 10,748 shares of the company's stock valued at $215,000 after acquiring an additional 3,833 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in DXC Technology by 3.0% in the fourth quarter. Principal Financial Group Inc. now owns 877,399 shares of the company's stock valued at $17,530,000 after acquiring an additional 25,573 shares during the last quarter. Royce & Associates LP boosted its holdings in DXC Technology by 35.7% in the fourth quarter. Royce & Associates LP now owns 124,813 shares of the company's stock valued at $2,494,000 after acquiring an additional 32,842 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in DXC Technology by 86.9% in the fourth quarter. State of Alaska Department of Revenue now owns 192,880 shares of the company's stock valued at $3,853,000 after acquiring an additional 89,698 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).