DXC Technology (NYSE:DXC) Price Target Raised to $12.00

DXC Technology (NYSE:DXC) had its price objective raised by Morgan Stanley from $9.00 to $12.00 in a report issued on Monday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other brokerages have also recently weighed in on DXC. JPMorgan Chase & Co. increased their target price on shares of DXC Technology from $12.00 to $13.00 and gave the stock an “underweight” rating in a report on Friday, October 30th. Royal Bank Of Canada decreased their price target on shares of DXC Technology from $16.00 to $14.00 and set a “sector perform” rating for the company in a report on Friday, July 31st. Zacks Research raised shares of DXC Technology from a “strong sell” rating to a “hold” rating in a research report on Monday, July 13th. Stifel Nicolaus lowered their price objective on shares of DXC Technology from $12.00 to $10.50 and set a “hold” rating for the company in a research report on Friday, July 31st. Finally, Susquehanna increased their price objective on shares of DXC Technology from $10.00 to $12.00 and gave the stock a “neutral” rating in a research note on Friday, October 30th. Six analysts have rated the stock with a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Reduce” and an average target price of $12.06.

DXC Technology Stock Performance

DXC stock opened at $14.91 on Monday. The company has a current ratio of 1.15, a quick ratio of 1.41 and a debt-to-equity ratio of 0.64. The firm has a market cap of $2.32 billion, a P/E ratio of 22.94 and a beta of 0.76. DXC Technology has a 12-month low of $7.90 and a 12-month high of $16.38. The stock’s 50 day simple moving average is $12.51 and its 200 day simple moving average is $11.59.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Thursday, October 29th. The company reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period last year, the business posted $0.84 earnings per share. As a group, equities research analysts predict that DXC Technology will post 2.36 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. boosted its position in DXC Technology by 61.1% during the 1st quarter. Bessemer Group Inc. now owns 3,680 shares of the company’s stock worth $47,000 after acquiring an additional 1,395 shares during the period. Farther Finance Advisors LLC grew its stake in shares of DXC Technology by 289.0% in the third quarter. Farther Finance Advisors LLC now owns 4,396 shares of the company’s stock worth $48,000 after purchasing an additional 3,266 shares in the last quarter. Covestor Ltd grew its stake in shares of DXC Technology by 31.2% in the second quarter. Covestor Ltd now owns 6,603 shares of the company’s stock worth $58,000 after purchasing an additional 1,570 shares in the last quarter. Versant Capital Management Inc grew its stake in shares of DXC Technology by 47.4% in the second quarter. Versant Capital Management Inc now owns 7,474 shares of the company’s stock worth $66,000 after purchasing an additional 2,404 shares in the last quarter. Finally, Parallel Advisors LLC increased its holdings in shares of DXC Technology by 77.8% during the third quarter. Parallel Advisors LLC now owns 9,092 shares of the company’s stock valued at $98,000 after purchasing an additional 3,979 shares during the period. 96.20% of the stock is currently owned by institutional investors.

DXC Technology Company Profile

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.