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

DXC Technology (NYSE:DXC) had its price objective reduced by equities researchers at TD Cowen from $15.00 to $14.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. TD Cowen’s price objective would indicate a potential upside of 9.78% from the company’s current price.

Other equities research analysts have also recently issued reports about the company. Wall Street Zen cut DXC Technology from a “buy” rating to a “hold” rating in a research note on Saturday, March 28th. BMO Capital Markets increased their price target on shares of DXC Technology from $15.00 to $17.00 and gave the company a “market perform” rating in a research report on Tuesday, February 3rd. Zacks Research downgraded shares of DXC Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 3rd. Finally, Wolfe Research set a $13.00 target price on shares of DXC Technology and gave the company an “underperform” rating in a research note on Friday, January 30th. Eight investment analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Reduce” and an average price target of $14.63.

DXC Technology Stock Performance

Shares of NYSE DXC traded up $0.09 during midday trading on Monday, reaching $12.75. The company’s stock had a trading volume of 722,623 shares, compared to its average volume of 2,434,338. The stock has a market capitalization of $2.16 billion, a P/E ratio of 5.47 and a beta of 1.00. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a 50 day moving average price of $12.95 and a 200-day moving average price of $13.61. DXC Technology has a 12-month low of $11.54 and a 12-month high of $17.26.

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

Insider Transactions at DXC Technology

In other DXC Technology news, CEO Raul J. Fernandez bought 16,446 shares of the business’s stock in a transaction on Monday, February 2nd. The stock was purchased at an average price of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the transaction, the chief executive officer directly owned 816,001 shares of the company’s stock, 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 filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.61% of the company’s stock.

Institutional Trading of DXC Technology

A number of institutional investors have recently modified their holdings of DXC. Corient Private Wealth LLC raised its holdings in DXC Technology by 75.6% during the 4th quarter. Corient Private Wealth LLC now owns 61,304 shares of the company’s stock valued at $898,000 after acquiring an additional 26,394 shares during the period. Villanova Investment Management Co LLC boosted its holdings in shares of DXC Technology by 6.2% in the fourth quarter. Villanova Investment Management Co LLC now owns 176,028 shares of the company’s stock worth $2,579,000 after acquiring an additional 10,316 shares during the period. DGS Capital Management LLC purchased a new position in shares of DXC Technology in the fourth quarter valued at $224,000. Caitlin John LLC raised its stake in shares of DXC Technology by 358.0% during the 4th quarter. Caitlin John LLC now owns 3,224 shares of the company’s stock valued at $49,000 after purchasing an additional 2,520 shares during the period. Finally, Vident Advisory LLC lifted its holdings in DXC Technology by 5.4% during the 4th quarter. Vident Advisory LLC now owns 91,284 shares of the company’s stock worth $1,337,000 after purchasing an additional 4,697 shares in the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

DXC Technology Company Profile

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.