DXC Technology (NYSE:DXC) Price Target Cut to $56.00 by Analysts at Bank of America

DXC Technology (NYSE:DXC) had its price objective lowered by Bank of America from $64.00 to $56.00 in a research note released on Friday, BenzingaRatingsTable reports. Bank of America currently has a buy rating on the stock.

DXC has been the topic of several other research reports. KeyCorp reduced their price target on shares of DXC Technology from $97.00 to $88.00 and set an overweight rating on the stock in a research report on Monday, May 20th. Cowen dropped their price objective on shares of DXC Technology from $83.00 to $65.00 and set an outperform rating for the company in a research note on Friday. Wells Fargo & Co dropped their price objective on shares of DXC Technology from $72.00 to $55.00 and set a market perform rating for the company in a research note on Friday, May 24th. BMO Capital Markets downgraded shares of DXC Technology from an outperform rating to a market perform rating and dropped their price objective for the company from $60.00 to $48.00 in a research note on Friday. Finally, TheStreet downgraded shares of DXC Technology from a b- rating to a c+ rating in a research note on Thursday, May 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the stock. DXC Technology currently has an average rating of Hold and an average price target of $70.55.

Shares of NYSE DXC traded down $15.74 during trading hours on Friday, hitting $35.91. 20,479,357 shares of the stock were exchanged, compared to its average volume of 2,151,288. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.47. The firm has a market cap of $13.29 billion, a P/E ratio of 4.31, a PEG ratio of 1.56 and a beta of 1.74. The firm has a fifty day moving average of $54.75. DXC Technology has a 1-year low of $34.61 and a 1-year high of $96.75.

DXC Technology (NYSE:DXC) last posted its quarterly earnings results on Thursday, August 8th. The company reported $1.74 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.71 by $0.03. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.86 billion. DXC Technology had a net margin of 6.06% and a return on equity of 20.09%. The firm’s revenue for the quarter was down 7.4% on a year-over-year basis. During the same quarter last year, the business posted $1.93 EPS. Equities analysts anticipate that DXC Technology will post 8.16 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 16th. Investors of record on Wednesday, June 5th were paid a $0.21 dividend. This is an increase from DXC Technology’s previous quarterly dividend of $0.19. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.84 annualized dividend and a yield of 2.34%. DXC Technology’s dividend payout ratio is presently 10.07%.

In other news, EVP Joanne Mason sold 48,679 shares of the firm’s stock in a transaction on Monday, June 17th. The shares were sold at an average price of $51.99, for a total transaction of $2,530,821.21. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John M. Lawrie purchased 3,300 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $53.28 per share, with a total value of $175,824.00. The disclosure for this purchase can be found here. In the last three months, insiders purchased 22,066 shares of company stock valued at $1,153,043. 0.81% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. Boston Partners raised its stake in shares of DXC Technology by 3.0% during the first 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 during the last quarter. Geode Capital Management LLC raised its stake in shares of DXC Technology by 11.3% during the fourth 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 during the last quarter. FMR LLC raised its stake in shares of DXC Technology by 6.8% during the first 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 during the last quarter. Prudential Financial Inc. raised its stake in shares of DXC Technology by 23.4% during the second 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 during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of DXC Technology by 14.2% during the fourth 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 during the last quarter. 85.84% of the stock is owned by hedge funds and other institutional investors.

DXC Technology Company Profile

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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