DXC Technology (NYSE:DXC) Stock Price Down 6.3% – Time to Sell?
by Tristan Rich · The Markets DailyDXC Technology Company. (NYSE:DXC – Get Free Report)’s share price traded down 6.3% on Tuesday. The company traded as low as $13.70 and last traded at $13.8340. Approximately 355,739 shares were traded during trading, a decline of 91% from the average session volume of 3,849,061 shares. The stock had previously closed at $14.76.
Analysts Set New Price Targets
DXC has been the topic of a number of recent analyst reports. Royal Bank Of Canada dropped their price target on shares of DXC Technology from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research report on Friday, July 31st. Morgan Stanley raised their price objective on shares of DXC Technology from $9.00 to $12.00 and gave the stock an “equal weight” rating in a report on Monday. Stifel Nicolaus cut their price objective on DXC Technology from $12.00 to $10.50 and set a “hold” rating for the company in a report on Friday, July 31st. Susquehanna lifted their target price on shares of DXC Technology from $10.00 to $12.00 and gave the company a “neutral” rating in a research note on Friday. Finally, Weiss Ratings downgraded DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday. Seven analysts have rated the stock with a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, DXC Technology presently has a consensus rating of “Reduce” and an average target price of $12.06.
Check Out Our Latest Stock Report on DXC
DXC Technology Price Performance
The company has a 50-day moving average price of $12.36 and a 200-day moving average price of $11.59. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.41 and a current ratio of 1.41. The company has a market capitalization of $2.27 billion, a price-to-earnings ratio of 21.79 and a beta of 0.79.
DXC Technology (NYSE:DXC – Get Free Report) last released its quarterly earnings results on Thursday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.12. The firm had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.98 billion. DXC Technology had a return on equity of 15.60% and a net margin of 0.99%. The company’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.84 EPS. On average, equities research analysts expect that DXC Technology Company. will post 2.47 EPS for the current fiscal year.
Institutional Investors Weigh In On DXC Technology
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of DXC Technology by 21.5% during the 2nd quarter. BlackRock Inc. now owns 28,276,735 shares of the company’s stock worth $250,249,000 after acquiring an additional 4,994,936 shares during the period. Dimensional Fund Advisors LP lifted its holdings in DXC Technology by 2.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 10,029,966 shares of the company’s stock valued at $126,068,000 after purchasing an additional 258,819 shares during the last quarter. State Street Corp lifted its holdings in DXC Technology by 25.0% during the 2nd quarter. State Street Corp now owns 7,683,280 shares of the company’s stock valued at $67,997,000 after purchasing an additional 1,536,243 shares during the last quarter. Nykredit A S acquired a new stake in DXC Technology during the 2nd quarter valued at $51,580,000. Finally, Allianz Asset Management GmbH boosted its position in DXC Technology by 58.3% during the second quarter. Allianz Asset Management GmbH now owns 1,564,754 shares of the company’s stock worth $13,848,000 after purchasing an additional 576,353 shares during the period. 96.20% of the stock is owned by institutional investors.
DXC Technology Company Profile
DXC Technology (NYSE: DXC) is a global information technology services and solutions company that helps organizations modernize and manage their technology environments. Its services include consulting, application development and management, cloud migration and operations, cybersecurity, data and analytics, enterprise technology management, and workplace and end-user services.
The company serves businesses and government organizations across a range of industries, including financial services, healthcare, insurance, manufacturing, aerospace and defense, automotive, retail, and the public sector.