Brokerages Set DXC Technology (NYSE:DXC) PT at $20.89

Shares of DXC Technology (NYSE:DXC) have earned a consensus recommendation of “Reduce” from the nine ratings firms that are covering the company, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $20.89.

A number of research firms have issued reports on DXC. Royal Bank of Canada increased their target price on DXC Technology from $18.00 to $20.00 and gave the stock a “sector perform” rating in a report on Friday, August 9th. BMO Capital Markets increased their price objective on DXC Technology from $22.00 to $25.00 and gave the stock a “market perform” rating in a report on Monday, November 11th. Susquehanna boosted their target price on DXC Technology from $19.00 to $23.00 and gave the company a “neutral” rating in a research note on Friday, November 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th.

Insider Buying and Selling at DXC Technology

In related news, SVP Christopher Anthony Voci sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $21.37, for a total transaction of $53,425.00. Following the transaction, the senior vice president now directly owns 83,746 shares of the company’s stock, valued at approximately $1,789,652.02. The trade was a 2.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.54% of the company’s stock.

Hedge Funds Weigh In On DXC Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC increased its stake in shares of DXC Technology by 352.6% during the second quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock worth $11,935,000 after purchasing an additional 487,072 shares during the period. Susquehanna Fundamental Investments LLC bought a new position in DXC Technology during the 2nd quarter worth $3,483,000. Tidal Investments LLC acquired a new stake in shares of DXC Technology during the first quarter worth $1,042,000. Paragon Capital Management Inc. bought a new stake in shares of DXC Technology in the second quarter valued at about $2,141,000. Finally, Royce & Associates LP grew its stake in shares of DXC Technology by 124.7% in the third quarter. Royce & Associates LP now owns 91,971 shares of the company’s stock valued at $1,908,000 after acquiring an additional 51,041 shares in the last quarter. 96.20% of the stock is owned by institutional investors.

DXC Technology Price Performance

Shares of DXC opened at $22.38 on Monday. The stock has a 50 day simple moving average of $20.86 and a 200 day simple moving average of $19.57. DXC Technology has a 52-week low of $14.78 and a 52-week high of $25.14. The company has a debt-to-equity ratio of 1.18, a quick ratio of 1.25 and a current ratio of 1.25. The firm has a market capitalization of $4.05 billion, a PE ratio of 281.66, a P/E/G ratio of 1.46 and a beta of 1.67.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.93 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.21. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.21 billion. During the same quarter in the prior year, the company earned $0.70 earnings per share. Sell-side analysts predict that DXC Technology will post 3.18 EPS for the current fiscal year.

About DXC Technology

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