JPMorgan Chase & Co. Cuts DXC Technology (NYSE:DXC) Price Target to $18.00

DXC Technology (NYSE:DXC - Get Free Report) had its price target reduced by equities research analysts at JPMorgan Chase & Co. from $22.00 to $18.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. JPMorgan Chase & Co.'s price target would suggest a potential upside of 18.23% from the company's current price.

DXC has been the subject of a number of other reports. Royal Bank of Canada lowered their price objective on DXC Technology from $27.00 to $18.00 and set a "sector perform" rating for the company in a research report on Thursday, May 15th. Guggenheim restated a "neutral" rating on shares of DXC Technology in a report on Monday, May 12th. BMO Capital Markets reduced 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 dropped 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, Morgan Stanley reduced their price target on DXC Technology from $22.00 to $16.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the stock. Based on data from MarketBeat.com, DXC Technology currently has an average rating of "Hold" and an average price target of $17.17.

DXC Technology Price Performance

Shares of DXC stock traded down $0.06 during trading hours on Wednesday, reaching $15.23. 269,750 shares of the company were exchanged, compared to its average volume of 1,681,245. DXC Technology has a fifty-two week low of $13.44 and a fifty-two week high of $24.83. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.34 and a quick ratio of 1.34. The stock's fifty day moving average is $15.84 and its two-hundred day moving average is $18.99. The company has a market cap of $2.76 billion, a price-to-earnings ratio of -36.25, a P/E/G ratio of 1.16 and a beta of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last posted 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. The firm had revenue of $3.17 billion for the quarter, compared to the consensus estimate 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 quarter in the prior year, the business earned $0.97 EPS. Sell-side analysts forecast that DXC Technology will post 3.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DXC. Newbridge Financial Services Group Inc. boosted its position in shares of DXC Technology by 116.1% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,675 shares of the company's stock worth $33,000 after purchasing an additional 900 shares in the last quarter. Byrne Asset Management LLC bought a new stake in shares of DXC Technology in the 1st quarter valued at $33,000. Meeder Asset Management Inc. acquired a new stake in DXC Technology during the 4th quarter worth $55,000. Wealthquest Corp bought a new position in DXC Technology during the first quarter worth about $49,000. Finally, Smartleaf Asset Management LLC grew its stake in DXC Technology by 366.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 2,999 shares of the company's stock valued at $60,000 after acquiring an additional 2,356 shares during the period. 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).

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