Brokerages Set DXC Technology Company. (NYSE:DXC) Target Price at $15.00

DXC Technology Company. (NYSE:DXC) has earned an average rating of “Reduce” from the nine brokerages that are covering the stock, MarketBeat.com reports. Three investment analysts have rated the stock with a sell recommendation and six have assigned a hold recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $15.00.

A number of equities analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d)” rating on shares of DXC Technology in a report on Wednesday, October 8th. Stifel Nicolaus reduced their price target on DXC Technology from $15.00 to $14.00 and set a “hold” rating for the company in a research report on Friday, October 31st. Wolfe Research cut DXC Technology from a “strong-buy” rating to a “strong sell” rating in a research report on Thursday, January 8th. Susquehanna set a $14.00 price objective on DXC Technology and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Wall Street Zen raised shares of DXC Technology from a “hold” rating to a “buy” rating in a report on Sunday, November 9th.

DXC Technology Trading Down 1.7%

Shares of NYSE:DXC opened at $14.75 on Friday. The stock’s 50-day simple moving average is $14.42 and its two-hundred day simple moving average is $14.00. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 7.27 and a beta of 1.04. DXC Technology has a 52-week low of $11.82 and a 52-week high of $23.75. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.09 and a current ratio of 1.09.

DXC Technology (NYSE:DXC) last issued its quarterly earnings data on Friday, October 31st. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.13. The firm had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $3.17 billion. DXC Technology had a net margin of 2.93% and a return on equity of 17.83%. The business’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.93 EPS. Analysts expect that DXC Technology will post 3.35 EPS for the current year.

Insider Activity

In other news, SVP Christopher Anthony Voci sold 2,500 shares of the stock in a transaction on Thursday, December 11th. The shares were sold at an average price of $15.15, for a total value of $37,875.00. Following the completion of the sale, the senior vice president directly owned 88,605 shares of the company’s stock, valued at $1,342,365.75. This represents a 2.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.61% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC raised its position in DXC Technology by 93.7% during the second quarter. Hsbc Holdings PLC now owns 588,791 shares of the company’s stock valued at $9,003,000 after purchasing an additional 284,882 shares during the period. Marex Group plc bought a new position in shares of DXC Technology during the 2nd quarter valued at approximately $1,697,000. AGF Management Ltd. raised its holdings in DXC Technology by 35.9% during the 2nd quarter. AGF Management Ltd. now owns 198,408 shares of the company’s stock valued at $3,034,000 after buying an additional 52,367 shares during the period. Hillsdale Investment Management Inc. lifted its position in DXC Technology by 893.2% in the second quarter. Hillsdale Investment Management Inc. now owns 379,400 shares of the company’s stock worth $5,801,000 after buying an additional 341,200 shares during the last quarter. Finally, State of Alaska Department of Revenue boosted its stake in DXC Technology by 23.6% during the third quarter. State of Alaska Department of Revenue now owns 370,768 shares of the company’s stock worth $5,052,000 after buying an additional 70,782 shares during the period. 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.