TD Cowen Cuts DXC Technology (NYSE:DXC) Price Target to $14.00

DXC Technology (NYSE:DXC) had its price objective reduced by TD Cowen from $15.00 to $14.00 in a report released on Monday morning,Benzinga reports. They currently have a hold rating on the stock.

Several other brokerages have also recently commented on DXC. BMO Capital Markets lifted their price objective on shares of DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research note on Tuesday, February 3rd. Zacks Research lowered shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Wall Street Zen lowered shares of DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Finally, Wolfe Research set a $13.00 target price on shares of DXC Technology and gave the company an “underperform” rating in a report on Friday, January 30th. Eight equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $14.63.

DXC Technology Stock Performance

Shares of NYSE DXC opened at $12.71 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 0.91. DXC Technology has a 12 month low of $11.54 and a 12 month high of $17.26. The company has a 50 day simple moving average of $12.84 and a two-hundred day simple moving average of $13.58. The stock has a market cap of $2.16 billion, a price-to-earnings ratio of 5.45 and a beta of 1.00.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Thursday, January 29th. The company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.83 by $0.13. DXC Technology had a net margin of 3.34% and a return on equity of 17.56%. The business had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the previous year, the business posted $0.92 EPS. The business’s quarterly revenue was down 1.0% compared to the same quarter last year. As a group, analysts predict that DXC Technology will post 3.35 earnings per share for the current year.

Insider Buying and Selling at DXC Technology

In other news, CEO Raul J. Fernandez bought 16,446 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was purchased at an average cost of $15.24 per share, with a total value of $250,637.04. Following the acquisition, the chief executive officer directly owned 816,001 shares in the company, valued at $12,435,855.24. This trade represents a 2.06% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On DXC Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC increased its holdings in DXC Technology by 240.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock worth $27,000 after acquiring an additional 1,227 shares in the last quarter. Danske Bank A S increased its holdings in DXC Technology by 280.0% in the 4th quarter. Danske Bank A S now owns 1,900 shares of the company’s stock worth $28,000 after acquiring an additional 1,400 shares in the last quarter. Fifth Third Bancorp increased its holdings in DXC Technology by 116.0% in the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock worth $31,000 after acquiring an additional 1,129 shares in the last quarter. Hantz Financial Services Inc. increased its holdings in DXC Technology by 110.5% in the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock worth $32,000 after acquiring an additional 1,147 shares in the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in DXC Technology by 13,258.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock worth $33,000 after acquiring an additional 2,254 shares in the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

About DXC Technology

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.