DXC Technology (NYSE:DXC) Price Target Lowered to $10.00 at TD Cowen

DXC Technology (NYSE:DXC) had its target price lowered by TD Cowen from $11.00 to $10.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “hold” rating on the stock. TD Cowen’s price target suggests a potential upside of 6.67% from the company’s previous close.

DXC has been the subject of several other reports. Stifel Nicolaus set a $12.00 price target on DXC Technology in a report on Friday, May 8th. Zacks Research lowered DXC Technology from a “hold” rating to a “strong sell” rating in a research report on Tuesday, May 12th. Morgan Stanley dropped their price objective on DXC Technology from $15.00 to $9.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 14th. Weiss Ratings downgraded shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a research report on Monday, May 11th. Finally, Wall Street Zen cut shares of DXC Technology from a “buy” rating to a “hold” rating in a report on Saturday, March 28th. Six investment analysts have rated the stock with a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce” and a consensus price target of $12.25.

DXC Technology Stock Down 2.1%

DXC Technology stock traded down $0.20 during mid-day trading on Thursday, reaching $9.38. 1,073,237 shares of the company’s stock were exchanged, compared to its average volume of 3,931,276. DXC Technology has a twelve month low of $7.90 and a twelve month high of $15.79. The company has a fifty day moving average of $9.43 and a 200-day moving average of $12.01. The company has a market cap of $1.53 billion, a P/E ratio of 156.25 and a beta of 0.82. The company has a quick ratio of 1.36, a current ratio of 1.36 and a debt-to-equity ratio of 0.94.

DXC Technology (NYSE:DXC) last released its quarterly earnings results on Friday, May 8th. The company reported $0.77 EPS for the quarter, beating the consensus estimate of $0.70 by $0.07. DXC Technology had a net margin of 0.14% and a return on equity of 17.24%. The firm had revenue of $3.13 billion during the quarter, compared to the consensus estimate of $3.17 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. DXC Technology’s revenue for the quarter was down 1.2% on a year-over-year basis. Sell-side analysts expect that DXC Technology will post 2.62 EPS for the current year.

Insider Activity at DXC Technology

In other news, CEO Raul J. Fernandez bought 28,051 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was acquired at an average price of $8.90 per share, for a total transaction of $249,653.90. Following the transaction, the chief executive officer directly owned 844,052 shares of the company’s stock, valued at $7,512,062.80. This trade represents a 3.44% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 1.13% of the stock is owned by company insiders.

Institutional Trading of DXC Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in DXC. Lido Advisors LLC increased its position in shares of DXC Technology by 6.1% in the 4th quarter. Lido Advisors LLC now owns 17,383 shares of the company’s stock valued at $241,000 after buying an additional 1,003 shares in the last quarter. Fifth Third Bancorp raised its position in DXC Technology by 116.0% in the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock valued at $31,000 after buying an additional 1,129 shares during the last quarter. Hantz Financial Services Inc. lifted its position in DXC Technology by 110.5% during the 4th quarter. Hantz Financial Services Inc. now owns 2,185 shares of the company’s stock worth $32,000 after buying an additional 1,147 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of DXC Technology by 240.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock worth $27,000 after purchasing an additional 1,227 shares in the last quarter. Finally, Focus Partners Wealth grew its position in shares of DXC Technology by 9.9% in the 3rd quarter. Focus Partners Wealth now owns 15,094 shares of the company’s stock valued at $202,000 after acquiring an additional 1,357 shares during the period. 96.20% of the stock is currently owned by institutional investors and hedge funds.

Key DXC Technology News

Here are the key news stories impacting DXC Technology this week:

• Positive Sentiment: DXC and Wilton Re completed a major cloud conversion of more than 400,000 policies, extending a 20-year partnership and highlighting DXC’s ability to deliver large-scale modernization projects that could support future revenue and AI-related services. Article Title
• Positive Sentiment: DXC opened a new AI-focused customer experience center in Bengaluru, underscoring its push to expand its India footprint and position itself around enterprise AI adoption and consulting demand. Article Title
• Positive Sentiment: Additional coverage around the Bengaluru AI center reinforces investor attention on DXC’s turnaround strategy and its effort to rebrand around AI-led modernization, which may improve sentiment toward the stock. Article Title
• Neutral Sentiment: Media commentary on whether DXC can turn its fortunes around with a new AI strategy adds visibility to the turnaround story, but it does not by itself change fundamentals. Article Title
• Negative Sentiment: Pomerantz LLP said it is investigating claims on behalf of DXC investors, creating a legal uncertainty that could weigh on shares if the probe leads to further action. Article Title

DXC Technology Company Profile

DXC Technology, headquartered in Tysons Corner, Virginia, is a global leader in IT services and solutions. The company was formed in 2017 through the merger of Computer Sciences Corporation (CSC) and the Enterprise Services business of Hewlett Packard Enterprise, combining decades of experience in consulting, systems integration and managed services. Since its inception, DXC has focused on helping clients modernize IT environments and drive digital transformation across their organizations.

DXC Technology’s core service offerings encompass cloud and platform services, applications and analytics, security, and workplace and mobility solutions.