DXC Technology (NYSE:DXC) Price Target Cut to $65.00

DXC Technology (NYSE:DXC) had its target price decreased by Cowen from $83.00 to $65.00 in a research report sent to investors on Friday morning, The Fly reports. Cowen currently has an outperform rating on the stock.

A number of other brokerages have also recently issued reports on DXC. Zacks Investment Research cut DXC Technology from a buy rating to a hold rating in a report on Wednesday, May 22nd. Goldman Sachs Group cut DXC Technology from a conviction-buy rating to a buy rating in a report on Monday, April 22nd. BMO Capital Markets cut DXC Technology from an outperform rating to a market perform rating and reduced their target price for the stock from $60.00 to $48.00 in a report on Friday. TheStreet cut DXC Technology from a b- rating to a c+ rating in a report on Thursday, May 23rd. Finally, Wells Fargo & Co cut their price objective on DXC Technology from $72.00 to $55.00 and set a market perform rating on the stock in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and eight have assigned a buy rating to the company. The stock has an average rating of Hold and an average target price of $71.50.

Shares of DXC opened at $33.92 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.96 and a current ratio of 0.96. DXC Technology has a 1 year low of $34.61 and a 1 year high of $96.75. The company has a market capitalization of $13.76 billion, a PE ratio of 4.07, a P/E/G ratio of 1.62 and a beta of 1.74. The stock’s 50-day moving average is $53.61.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, August 8th. The company reported $1.74 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.71 by $0.03. DXC Technology had a return on equity of 19.39% and a net margin of 5.70%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.86 billion. During the same quarter last year, the business earned $1.93 earnings per share. The company’s revenue was down 7.4% compared to the same quarter last year. Equities analysts expect that DXC Technology will post 8.16 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a dividend yield of 2.48%. The ex-dividend date of this dividend was Tuesday, June 4th. This is a boost from DXC Technology’s previous quarterly dividend of $0.19. DXC Technology’s payout ratio is 10.07%.

In other news, EVP Joanne Mason sold 1,768 shares of DXC Technology stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $52.29, for a total transaction of $92,448.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider John M. Lawrie acquired 4,166 shares of the business’s stock in a transaction dated Thursday, July 18th. The shares were acquired at an average price of $56.26 per share, for a total transaction of $234,379.16. The disclosure for this purchase can be found here. Insiders have bought a total of 22,066 shares of company stock worth $1,153,043 in the last quarter. 0.81% of the stock is currently owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Boston Partners lifted its stake in DXC Technology by 3.0% in the 1st quarter. Boston Partners now owns 9,911,245 shares of the company’s stock valued at $637,393,000 after acquiring an additional 292,941 shares in the last quarter. Geode Capital Management LLC lifted its stake in DXC Technology by 11.3% in the 4th quarter. Geode Capital Management LLC now owns 4,452,857 shares of the company’s stock valued at $236,418,000 after acquiring an additional 451,768 shares in the last quarter. FMR LLC lifted its stake in DXC Technology by 6.8% in the 1st quarter. FMR LLC now owns 3,849,597 shares of the company’s stock valued at $247,567,000 after acquiring an additional 245,363 shares in the last quarter. Prudential Financial Inc. lifted its stake in DXC Technology by 23.4% in the 2nd quarter. Prudential Financial Inc. now owns 3,308,632 shares of the company’s stock valued at $182,471,000 after acquiring an additional 626,625 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in DXC Technology by 14.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,299,958 shares of the company’s stock valued at $175,464,000 after acquiring an additional 411,494 shares in the last quarter. Hedge funds and other institutional investors own 85.84% of the company’s stock.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).

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