DXC Technology (NYSE:DXC – Get Free Report) was down 3.5% during trading on Monday 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 $15.91 and last traded at $15.95. Approximately 1,434,321 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 2,434,200 shares. The stock had previously closed at $16.52.
Several other analysts have also recently weighed in on the stock. JPMorgan Chase & Co. cut shares of DXC Technology from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $27.00 to $24.00 in a report on Wednesday, January 24th. Stifel Nicolaus cut their price objective on shares of DXC Technology from $21.00 to $19.00 and set a “hold” rating on the stock in a report on Friday. BMO Capital Markets cut their price objective on shares of DXC Technology from $23.00 to $17.50 and set a “market perform” rating on the stock in a report on Friday. Royal Bank of Canada cut their price objective on shares of DXC Technology from $24.00 to $18.00 and set a “sector perform” rating on the stock in a report on Friday. Finally, Susquehanna cut their price objective on shares of DXC Technology from $22.00 to $15.00 and set a “neutral” rating on the stock in a report on Friday. Three equities research analysts have rated the stock with a sell rating and eight have assigned a hold rating to the stock. According to data from MarketBeat.com, DXC Technology has a consensus rating of “Hold” and an average target price of $20.41.
Insiders Place Their Bets
In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the business’s stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares in the company, valued at approximately $2,712,034.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.87% of the company’s stock.
Institutional Inflows and Outflows
Institutional investors have recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of DXC Technology by 3.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 101,966 shares of the company’s stock valued at $2,124,000 after acquiring an additional 3,365 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of DXC Technology by 195.0% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 119,657 shares of the company’s stock worth $2,492,000 after purchasing an additional 79,096 shares during the period. Fifth Third Bancorp grew its holdings in shares of DXC Technology by 75.2% during the 3rd quarter. Fifth Third Bancorp now owns 15,523 shares of the company’s stock worth $323,000 after purchasing an additional 6,661 shares during the period. New Mexico Educational Retirement Board grew its holdings in shares of DXC Technology by 7.2% during the 3rd quarter. New Mexico Educational Retirement Board now owns 11,846 shares of the company’s stock worth $247,000 after purchasing an additional 800 shares during the period. Finally, Duality Advisers LP grew its holdings in shares of DXC Technology by 102.9% during the 3rd quarter. Duality Advisers LP now owns 46,860 shares of the company’s stock worth $976,000 after purchasing an additional 23,768 shares during the period. Institutional investors and hedge funds own 96.20% of the company’s stock.
DXC Technology Stock Performance
The stock has a market cap of $2.96 billion, a PE ratio of 43.43, a PEG ratio of 1.47 and a beta of 1.85. The stock has a fifty day simple moving average of $20.33 and a two-hundred day simple moving average of $21.77. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.11 and a current ratio of 1.17.
DXC Technology (NYSE:DXC – Get Free Report) last released its earnings results on Thursday, May 16th. The company reported $0.97 EPS for the quarter, beating the consensus estimate of $0.83 by $0.14. The company had revenue of $3.39 billion during the quarter, compared to analysts’ expectations of $3.37 billion. DXC Technology had a return on equity of 18.43% and a net margin of 0.67%. The business’s revenue was down 5.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.02 EPS. Equities analysts anticipate that DXC Technology will post 3.5 EPS for the current fiscal year.
About DXC Technology
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).