DXC Technology (NYSE:DXC) Downgraded by Wall Street Zen to Hold

Wall Street Zen cut shares of DXC Technology (NYSE:DXC) from a buy rating to a hold rating in a research note released on Thursday morning.

DXC has been the topic of several other reports. BMO Capital Markets reduced their target price on DXC Technology from $26.00 to $17.00 and set a “market perform” rating on the stock in a research report on Thursday, May 15th. JPMorgan Chase & Co. dropped their price objective on shares of DXC Technology from $22.00 to $18.00 and set an “underweight” rating for the company in a research note on Wednesday. Susquehanna decreased their target price on shares of DXC Technology from $23.00 to $16.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 23rd. Morgan Stanley lowered their target price on shares of DXC Technology from $22.00 to $16.00 and set an “equal weight” rating for the company in a report on Thursday, May 15th. Finally, Royal Bank of Canada dropped their price target on shares of DXC Technology from $27.00 to $18.00 and set a “sector perform” rating for the company in a research report on Thursday, May 15th. One analyst has rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $17.00.

DXC Technology Stock Performance

Shares of DXC opened at $15.23 on Thursday. DXC Technology has a 1 year low of $13.44 and a 1 year high of $24.83. The company’s 50 day simple moving average is $15.74 and its 200 day simple moving average is $18.93. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -36.26, a PEG ratio of 1.16 and a beta of 1.18. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.34 and a current ratio of 1.34.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.84 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.08. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. The company had revenue of $3.17 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $0.97 EPS. DXC Technology’s revenue was down 6.4% on a year-over-year basis. On average, sell-side analysts predict that DXC Technology will post 3.35 EPS for the current year.

Hedge Funds Weigh In On DXC Technology

A number of large investors have recently modified their holdings of the company. Treasurer of the State of North Carolina grew its holdings in shares of DXC Technology by 0.6% during the 4th quarter. Treasurer of the State of North Carolina now owns 78,639 shares of the company’s stock worth $1,571,000 after purchasing an additional 490 shares during the period. Arizona State Retirement System lifted its position in DXC Technology by 1.1% during the fourth quarter. Arizona State Retirement System now owns 52,475 shares of the company’s stock valued at $1,048,000 after buying an additional 566 shares in the last quarter. Vident Advisory LLC grew its stake in DXC Technology by 2.5% during the fourth quarter. Vident Advisory LLC now owns 25,279 shares of the company’s stock worth $505,000 after buying an additional 624 shares during the period. Highland Capital Management LLC grew its stake in DXC Technology by 6.6% during the fourth quarter. Highland Capital Management LLC now owns 11,850 shares of the company’s stock worth $237,000 after buying an additional 731 shares during the period. Finally, Corient Private Wealth LLC increased its position in shares of DXC Technology by 2.3% in the fourth quarter. Corient Private Wealth LLC now owns 32,796 shares of the company’s stock worth $655,000 after acquiring an additional 740 shares in the last quarter. 96.20% of the stock is currently owned by hedge funds and other institutional investors.

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).