DXC Technology (NYSE:DXC) Shares Down 2.7% – Should You Sell?

DXC Technology (NYSE:DXC) shares were down 2.7% during trading on Friday . The company traded as low as $20.56 and last traded at $20.92. Approximately 475,661 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,011,961 shares. The stock had previously closed at $21.49.

Analysts Set New Price Targets

DXC has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on DXC Technology from $22.00 to $25.00 and gave the company a “market perform” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their target price on DXC Technology from $19.00 to $22.00 and gave the stock an “underweight” rating in a research note on Friday, September 6th. Finally, Susquehanna raised their target price on shares of DXC Technology from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, DXC Technology has an average rating of “Hold” and a consensus price target of $20.89.

DXC Technology Stock Performance

The stock’s 50-day moving average price is $21.34 and its 200 day moving average price is $20.17. The firm has a market cap of $3.73 billion, a P/E ratio of 257.53, a price-to-earnings-growth ratio of 1.40 and a beta of 1.65. The company has a debt-to-equity ratio of 1.18, a current ratio of 1.25 and a quick ratio of 1.25.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.93 EPS for the quarter, topping the consensus estimate of $0.72 by $0.21. The firm had revenue of $3.24 billion for the quarter, compared to analysts’ expectations of $3.21 billion. DXC Technology had a net margin of 0.18% and a return on equity of 20.42%. During the same period in the previous year, the firm posted $0.70 EPS. As a group, equities analysts predict that DXC Technology will post 3.18 EPS for the current year.

Institutional Investors Weigh In On DXC Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pacer Advisors Inc. increased its holdings in DXC Technology by 30.4% during the second quarter. Pacer Advisors Inc. now owns 19,240,978 shares of the company’s stock worth $367,310,000 after buying an additional 4,489,924 shares during the last quarter. Marshall Wace LLP increased its stake in shares of DXC Technology by 1,047.3% during the 2nd quarter. Marshall Wace LLP now owns 820,585 shares of the company’s stock worth $15,665,000 after purchasing an additional 749,060 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of DXC Technology by 20.8% in the 2nd quarter. American Century Companies Inc. now owns 3,991,295 shares of the company’s stock valued at $76,194,000 after purchasing an additional 687,522 shares during the period. Millennium Management LLC lifted its stake in DXC Technology by 352.6% in the 2nd quarter. Millennium Management LLC now owns 625,197 shares of the company’s stock valued at $11,935,000 after purchasing an additional 487,072 shares during the last quarter. Finally, Canada Pension Plan Investment Board grew its holdings in DXC Technology by 3,173.3% during the second quarter. Canada Pension Plan Investment Board now owns 451,712 shares of the company’s stock worth $8,623,000 after purchasing an additional 437,912 shares during the period. Institutional investors own 96.20% of the company’s stock.

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).