DXC Technology (NYSE:DXC) Stock Price Target Raised at Morgan Stanley

DXC Technology (NYSE:DXC) had its price objective lifted by analysts at Morgan Stanley from $9.00 to $12.00 in a report released on Monday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley‘s price target would indicate a potential downside of 19.04% from the company’s current price.

A number of other research firms also recently weighed in on DXC. JPMorgan Chase & Co. raised their target price on shares of DXC Technology from $12.00 to $13.00 and gave the company an “underweight” rating in a research report on Friday. Susquehanna increased their target price on DXC Technology from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday. Stifel Nicolaus lowered their target price on shares of DXC Technology from $12.00 to $10.50 and set a “hold” rating on the stock in a report on Friday, July 31st. Weiss Ratings upgraded shares of DXC Technology from a “sell (d)” rating to a “sell (d+)” rating in a research note on Tuesday, October 6th. Finally, Royal Bank Of Canada reduced their price objective on DXC Technology from $16.00 to $14.00 and set a “sector perform” rating on the stock in a research note on Friday, July 31st. Seven equities research analysts have rated the stock with a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $12.06.

DXC Technology Trading Down 1.1%

NYSE DXC traded down $0.16 on Monday, reaching $14.82. The company had a trading volume of 2,397,963 shares, compared to its average volume of 3,850,181. DXC Technology has a 52 week low of $7.90 and a 52 week high of $16.38. The stock’s 50 day moving average is $12.28 and its 200-day moving average is $11.59. The company has a quick ratio of 1.41, a current ratio of 1.15 and a debt-to-equity ratio of 0.64. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 22.85 and a beta of 0.79.

DXC Technology (NYSE:DXC) last issued its earnings results on Thursday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.12. The firm had revenue of $3.03 billion for the quarter, compared to analysts’ expectations of $2.98 billion. DXC Technology had a return on equity of 14.35% and a net margin of 0.91%. The company’s revenue was down 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.84 earnings per share. Equities analysts predict that DXC Technology will post 2.47 earnings per share for the current year.

Institutional Trading of DXC Technology

Large investors have recently made changes to their positions in the company. BlackRock Inc. raised its holdings in shares of DXC Technology by 21.5% in 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 last quarter. Dimensional Fund Advisors LP grew 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 buying an additional 258,819 shares in the last quarter. State Street Corp lifted its stake in DXC Technology by 25.0% in the 2nd quarter. State Street Corp now owns 7,683,280 shares of the company’s stock worth $67,997,000 after purchasing an additional 1,536,243 shares in the last quarter. Nykredit A S bought a new position in DXC Technology in the 2nd quarter worth about $51,580,000. Finally, Allianz Asset Management GmbH lifted 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 valued at $13,848,000 after purchasing an additional 576,353 shares during the last quarter. 96.20% of the stock is currently owned by institutional investors and hedge funds.

About DXC Technology

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.