TD Cowen Has Lowered Expectations for DXC Technology (NYSE:DXC) Stock Price

DXC Technology (NYSE:DXC) had its price target lowered by stock analysts at TD Cowen from $15.00 to $14.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has a “hold” rating on the stock. TD Cowen’s target price points to a potential upside of 9.78% from the company’s current price.

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

DXC Technology Price Performance

NYSE:DXC traded up $0.09 during mid-day trading on Monday, hitting $12.75. 722,623 shares of the stock traded hands, compared to its average volume of 2,434,338. The business’s 50-day moving average price is $12.95 and its 200 day moving average price is $13.61. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 0.91. The company has a market cap of $2.16 billion, a PE ratio of 5.47 and a beta of 1.00. DXC Technology has a 12-month low of $11.54 and a 12-month high of $17.26.

DXC Technology (NYSE:DXC) last posted its earnings results on Thursday, January 29th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $3.18 billion. During the same period in the prior year, the company posted $0.92 EPS. The business’s revenue for the quarter was down 1.0% compared to the same quarter last year. On average, analysts expect that DXC Technology will post 3.35 EPS for the current fiscal year.

Insider Transactions at DXC Technology

In related news, CEO Raul J. Fernandez bought 16,446 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was bought at an average cost of $15.24 per share, for a total transaction of $250,637.04. Following the completion of the transaction, the chief executive officer owned 816,001 shares of the company’s stock, valued at approximately $12,435,855.24. The trade was a 2.06% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.61% of the company’s stock.

Institutional Investors Weigh In On DXC Technology

Several hedge funds have recently added to or reduced their stakes in DXC. Waterfront Wealth Inc. boosted its stake in DXC Technology by 818.6% in the third quarter. Waterfront Wealth Inc. now owns 142,192 shares of the company’s stock worth $1,886,000 after buying an additional 126,713 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of DXC Technology by 28.1% during the third quarter. JPMorgan Chase & Co. now owns 742,963 shares of the company’s stock worth $10,127,000 after acquiring an additional 162,958 shares in the last quarter. Marex Group plc bought a new stake in shares of DXC Technology in the 2nd quarter worth approximately $1,697,000. Assenagon Asset Management S.A. lifted its holdings in shares of DXC Technology by 2,316.7% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,570,035 shares of the company’s stock worth $23,001,000 after acquiring an additional 1,505,069 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of DXC Technology by 3.5% in the 3rd quarter. Vanguard Group Inc. now owns 23,452,271 shares of the company’s stock valued at $319,654,000 after purchasing an additional 800,973 shares in the last quarter. 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.