DXC Technology (NYSE:DXC) Sets New 52-Week Low Following Analyst Downgrade

DXC Technology (NYSE:DXC - Get Free Report) shares hit a new 52-week low during mid-day trading on Friday after Morgan Stanley lowered their price target on the stock from $21.00 to $18.00. Morgan Stanley currently has an equal weight rating on the stock. DXC Technology traded as low as $15.75 and last traded at $16.06, with a volume of 1085202 shares. The stock had previously closed at $19.88.

DXC has been the subject of a number of other reports. Susquehanna dropped their price target on shares of DXC Technology from $22.00 to $15.00 and set a "neutral" rating for the company in a research report on Friday. Guggenheim initiated coverage on DXC Technology in a research report on Tuesday, March 19th. They issued a "neutral" rating and a $22.00 target price on the stock. Royal Bank of Canada dropped their price objective on DXC Technology from $24.00 to $18.00 and set a "sector perform" rating for the company in a research note on Friday. Stifel Nicolaus decreased their target price on DXC Technology from $21.00 to $19.00 and set a "hold" rating on the stock in a research note on Friday. Finally, JPMorgan Chase & Co. cut DXC Technology from a "neutral" rating to an "underweight" rating and lowered their target price for the company from $27.00 to $24.00 in a report on Wednesday, January 24th. Three equities research analysts have rated the stock with a sell rating and eight have given a hold rating to the company's stock. Based on data from MarketBeat.com, DXC Technology currently has an average rating of "Hold" and a consensus target price of $20.41.

Insider Buying and Selling

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the firm's stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total value of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares in the company, valued at $2,712,034.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.87% of the company's stock.

Institutional Trading of DXC Technology

Several institutional investors have recently modified their holdings of DXC. Versant Capital Management Inc increased its position in DXC Technology by 3,525.9% during the fourth quarter. Versant Capital Management Inc now owns 2,103 shares of the company's stock worth $48,000 after buying an additional 2,045 shares during the period. GAMMA Investing LLC acquired a new position in shares of DXC Technology in the 4th quarter valued at $49,000. Quarry LP purchased a new stake in DXC Technology in the 4th quarter valued at $51,000. Headlands Technologies LLC acquired a new stake in DXC Technology during the 3rd quarter worth $67,000. Finally, NBC Securities Inc. purchased a new position in DXC Technology during the 3rd quarter worth $94,000. Hedge funds and other institutional investors own 96.20% of the company's stock.

DXC Technology Trading Down 17.0 %

The company has a market capitalization of $3.02 billion, a price-to-earnings ratio of -8.64, a price-to-earnings-growth ratio of 1.78 and a beta of 1.85. The business's 50 day simple moving average is $20.33 and its 200 day simple moving average is $21.75. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11.

DXC Technology (NYSE:DXC - Get Free Report) last issued its quarterly earnings results on Thursday, May 16th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.14. DXC Technology had a positive return on equity of 19.00% and a negative net margin of 3.35%. The firm had revenue of $3.39 billion for the quarter, compared to analysts' expectations of $3.37 billion. During the same quarter in the previous year, the firm posted $1.02 EPS. The firm's revenue for the quarter was down 5.6% on a year-over-year basis. Research analysts anticipate that DXC Technology will post 3.03 EPS for the current year.

DXC Technology Company Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).