DXC Technology (NYSE:DXC) Price Target Cut to $33.00 by Analysts at Morgan Stanley

DXC Technology (NYSE:DXCGet Rating) had its price target dropped by stock analysts at Morgan Stanley from $36.00 to $33.00 in a research report issued on Thursday, Stock Target Advisor reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price target would indicate a potential downside of 0.57% from the stock’s current price.

A number of other research analysts also recently weighed in on the company. Citigroup lowered their price target on DXC Technology from $45.00 to $43.00 in a report on Wednesday, April 20th. Susquehanna lowered their price target on DXC Technology from $42.00 to $41.00 in a report on Thursday. Zacks Investment Research raised DXC Technology from a “sell” rating to a “hold” rating and set a $37.00 price objective for the company in a research report on Friday, February 4th. JPMorgan Chase & Co. reduced their price objective on DXC Technology from $41.00 to $39.00 and set an “underweight” rating for the company in a research report on Tuesday, March 22nd. Finally, Royal Bank of Canada reduced their price objective on DXC Technology from $47.00 to $39.00 in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $40.00.

Shares of NYSE DXC traded up $3.74 during mid-day trading on Thursday, reaching $33.19. The company had a trading volume of 77,621 shares, compared to its average volume of 2,093,842. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.83. The stock has a market cap of $8.11 billion, a PE ratio of -13.66, a P/E/G ratio of 0.26 and a beta of 2.15. The company has a 50-day moving average price of $30.69 and a two-hundred day moving average price of $31.88. DXC Technology has a 1-year low of $27.28 and a 1-year high of $44.18.

DXC Technology (NYSE:DXCGet Rating) last issued its earnings results on Wednesday, May 25th. The company reported $0.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.99 by ($0.15). The company had revenue of $4.01 billion during the quarter, compared to analyst estimates of $4.12 billion. DXC Technology had a positive return on equity of 16.81% and a negative net margin of 3.67%. The business’s revenue was down 8.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, research analysts expect that DXC Technology will post 3.66 EPS for the current year.

Several large investors have recently made changes to their positions in the business. Franklin Resources Inc. lifted its position in shares of DXC Technology by 25.2% in the third quarter. Franklin Resources Inc. now owns 16,568,171 shares of the company’s stock worth $556,855,000 after buying an additional 3,329,558 shares during the last quarter. BlackRock Inc. increased its stake in shares of DXC Technology by 1.5% in the fourth quarter. BlackRock Inc. now owns 15,442,625 shares of the company’s stock worth $497,099,000 after purchasing an additional 224,946 shares during the period. Invesco Ltd. increased its stake in shares of DXC Technology by 9.8% in the first quarter. Invesco Ltd. now owns 13,236,007 shares of the company’s stock worth $431,892,000 after purchasing an additional 1,181,582 shares during the period. State Street Corp increased its stake in shares of DXC Technology by 2.2% in the fourth quarter. State Street Corp now owns 8,324,377 shares of the company’s stock worth $267,962,000 after purchasing an additional 180,986 shares during the period. Finally, Victory Capital Management Inc. increased its stake in shares of DXC Technology by 4.3% in the first quarter. Victory Capital Management Inc. now owns 7,894,755 shares of the company’s stock worth $257,486,000 after purchasing an additional 327,463 shares during the period. 89.41% of the stock is owned by institutional investors.

DXC Technology Company Profile (Get Rating)

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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