DXC Technology (NYSE:DXC) Price Target Cut to $10.00 by Analysts at TD Cowen

DXC Technology (NYSE:DXC) had its price objective cut by TD Cowen from $11.00 to $10.00 in a research note released on Thursday,Benzinga reports. They currently have a hold rating on the stock.

Other research analysts also recently issued research reports about the company. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $16.00 price target on shares of DXC Technology in a research note on Friday, June 12th. Weiss Ratings lowered shares of DXC Technology from a “sell (d+)” rating to a “sell (d)” rating in a report on Monday, May 11th. BMO Capital Markets dropped their target price on shares of DXC Technology from $17.00 to $10.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Stifel Nicolaus set a $12.00 price target on shares of DXC Technology in a report on Friday, May 8th. Finally, Morgan Stanley reduced their price target on shares of DXC Technology from $15.00 to $9.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 14th. Six equities research analysts have rated the stock with a Hold rating and four have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Reduce” and a consensus target price of $12.25.

DXC Technology Trading Down 3.5%

Shares of NYSE:DXC opened at $9.24 on Thursday. The business’s 50 day simple moving average is $9.39 and its 200 day simple moving average is $11.97. DXC Technology has a 1 year low of $7.90 and a 1 year high of $15.79. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.36 and a quick ratio of 1.36. The company has a market capitalization of $1.51 billion, a P/E ratio of 154.08 and a beta of 0.82.

DXC Technology (NYSE:DXC) last announced its quarterly earnings data on Friday, May 8th. The company reported $0.77 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.07. The firm had revenue of $3.13 billion during the quarter, compared to analysts’ expectations of $3.17 billion. DXC Technology had a return on equity of 17.24% and a net margin of 0.14%.The company’s quarterly revenue was down 1.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.84 EPS. On average, research analysts anticipate that DXC Technology will post 2.62 EPS for the current fiscal year.

Insider Transactions at DXC Technology

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

Hedge Funds Weigh In On DXC Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in DXC. EverSource Wealth Advisors LLC increased its holdings in shares of DXC Technology by 240.6% during the second quarter. EverSource Wealth Advisors LLC now owns 1,737 shares of the company’s stock worth $27,000 after buying an additional 1,227 shares in the last quarter. Danske Bank A S boosted its holdings in shares of DXC Technology by 280.0% during the 4th quarter. Danske Bank A S now owns 1,900 shares of the company’s stock valued at $28,000 after acquiring an additional 1,400 shares in the last quarter. Fifth Third Bancorp grew its position in DXC Technology by 116.0% during the 4th quarter. Fifth Third Bancorp now owns 2,102 shares of the company’s stock worth $31,000 after acquiring an additional 1,129 shares during the last quarter. Hantz Financial Services Inc. grew 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 acquiring an additional 1,147 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its holdings in DXC Technology by 13,258.8% in the 4th quarter. CIBC Private Wealth Group LLC now owns 2,271 shares of the company’s stock worth $33,000 after purchasing an additional 2,254 shares in the last quarter. Institutional investors own 96.20% of the company’s stock.

Key Stories Impacting DXC Technology

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

• Positive Sentiment: DXC said it completed a major cloud conversion for Wilton Re, migrating more than 400,000 policies to a single cloud platform. The project highlights DXC’s ability to win and execute on large transformation deals and could support future AI-driven efficiency gains. DXC and Wilton Re Mark 20-Year Partnership, Complete Cloud Conversion of 400,000 Policy Portfolio
• Positive Sentiment: DXC also opened an AI-focused customer experience center in Bengaluru, signaling a push to expand its AI consulting and enterprise modernization services in a key growth market. DXC opens AI-first customer experience centre in Bengaluru
• Neutral Sentiment: TD Cowen lowered its price target on DXC to $10 from $11 while keeping a hold rating. The new target still implies some upside from current levels, but the cut suggests analysts remain cautious about the company’s near-term outlook. TD Cowen price target cut on DXC Technology
• Negative Sentiment: Pomerantz LLP announced an investor investigation into DXC, which can add legal overhang and investor concern, even though no wrongdoing has been alleged publicly. Investor Alert: Pomerantz Law Firm Investigates Claims On Behalf of Investors of DXC Technology Company – DXC
• Negative Sentiment: MarketWatch noted that DXC underperformed peers on Thursday, reinforcing the view that the shares are lagging competitors despite the company’s recent AI and cloud-related announcements. DXC Technology Co. stock underperforms Thursday when compared to competitors

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.