Morgan Stanley Cuts DXC Technology (NYSE:DXC) Price Target to $33.00

DXC Technology (NYSE:DXCGet Rating) had its price target lowered by Morgan Stanley from $36.00 to $33.00 in a research report report published on Thursday, Stock Target Advisor reports. The firm currently has an equal weight rating on the stock.

DXC has been the topic of a number of other reports. Citigroup lowered their price target on shares of DXC Technology from $45.00 to $43.00 in a report on Wednesday, April 20th. Zacks Investment Research upgraded shares of DXC Technology from a sell rating to a hold rating and set a $37.00 price target on the stock in a report on Friday, February 4th. Royal Bank of Canada lowered their price target on shares of DXC Technology from $47.00 to $39.00 in a report on Thursday. Bank of America cut shares of DXC Technology from a buy rating to an underperform rating and lowered their price target for the company from $45.00 to $30.00 in a report on Wednesday, March 9th. Finally, Susquehanna Bancshares decreased their price objective on shares of DXC Technology from $42.00 to $41.00 and set a positive rating for the company in a research report on Thursday. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, DXC Technology has a consensus rating of Hold and a consensus price target of $39.93.

Shares of DXC Technology stock opened at $35.08 on Thursday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.09 and a quick ratio of 1.12. DXC Technology has a 1 year low of $27.28 and a 1 year high of $44.18. The firm’s 50-day moving average is $30.75 and its two-hundred day moving average is $31.88. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of 12.31, a PEG ratio of 0.32 and a beta of 2.15.

DXC Technology (NYSE:DXCGet Rating) last issued its earnings results on Wednesday, May 25th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.99 by ($0.15). DXC Technology had a return on equity of 17.08% and a net margin of 4.41%. The business had revenue of $4.01 billion for the quarter, compared to the consensus estimate of $4.12 billion. During the same quarter in the previous year, the company earned $0.74 earnings per share. The firm’s revenue was down 8.6% on a year-over-year basis. On average, equities analysts expect that DXC Technology will post 3.95 earnings per share for the current year.

A number of institutional investors and hedge funds have recently bought and sold shares of DXC. AlphaCrest Capital Management LLC raised its position in DXC Technology by 46.5% during the 3rd quarter. AlphaCrest Capital Management LLC now owns 8,602 shares of the company’s stock worth $289,000 after buying an additional 2,730 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of DXC Technology by 6.4% during the 3rd quarter. Public Sector Pension Investment Board now owns 42,488 shares of the company’s stock valued at $1,428,000 after purchasing an additional 2,540 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of DXC Technology by 0.6% during the 3rd quarter. Geode Capital Management LLC now owns 4,864,040 shares of the company’s stock valued at $163,260,000 after purchasing an additional 26,934 shares in the last quarter. Assetmark Inc. increased its holdings in shares of DXC Technology by 105.2% during the 3rd quarter. Assetmark Inc. now owns 1,426 shares of the company’s stock valued at $48,000 after purchasing an additional 731 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of DXC Technology during the 3rd quarter valued at approximately $344,000. 89.41% of the stock is owned by institutional investors.

DXC Technology Company Profile (Get Rating)

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering and solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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