DXC Technology (NYSE:DXC) Price Target Cut to $28.00 by Analysts at Cantor Fitzgerald

DXC Technology (NYSE:DXC) had its price objective decreased by Cantor Fitzgerald from $42.00 to $28.00 in a research note issued to investors on Tuesday, The Fly reports. The brokerage currently has a “neutral” rating on the stock. Cantor Fitzgerald’s price target suggests a potential downside of 20.57% from the stock’s current price.

A number of other brokerages have also weighed in on DXC. Moffett Nathanson reduced their price objective on shares of DXC Technology from $43.00 to $36.00 and set a “neutral” rating on the stock in a report on Tuesday, October 8th. Wells Fargo & Co reduced their price objective on shares of DXC Technology from $46.00 to $32.00 and set a “market perform” rating on the stock in a report on Thursday, September 26th. Cfra reiterated a “hold” rating on shares of DXC Technology in a research note on Thursday, September 12th. BMO Capital Markets downgraded shares of DXC Technology from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $60.00 to $48.00 in a report on Friday, August 9th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of DXC Technology from $45.00 to $44.00 and set an “overweight” rating on the stock in a report on Monday, October 7th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and seven have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $49.43.

Shares of DXC stock opened at $35.25 on Tuesday. The company has a quick ratio of 0.88, a current ratio of 0.88 and a debt-to-equity ratio of 0.80. DXC Technology has a 52 week low of $26.02 and a 52 week high of $69.45. The stock has a market capitalization of $7.88 billion, a PE ratio of 4.23, a P/E/G ratio of 1.05 and a beta of 1.92. The firm has a 50 day moving average of $28.51 and a two-hundred day moving average of $43.77.

DXC Technology (NYSE:DXC) last issued its quarterly earnings results on Monday, November 11th. The company reported $1.38 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.44 by ($0.06). DXC Technology had a net margin of 5.70% and a return on equity of 19.57%. The business had revenue of $4.85 billion during the quarter, compared to analysts’ expectations of $4.92 billion. During the same period in the prior year, the business earned $2.02 EPS. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts expect that DXC Technology will post 7.3 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Greenhaven Associates Inc. bought a new position in DXC Technology during the 2nd quarter valued at approximately $3,447,000. Holocene Advisors LP increased its position in DXC Technology by 202.0% during the 2nd quarter. Holocene Advisors LP now owns 24,075 shares of the company’s stock valued at $1,328,000 after buying an additional 16,102 shares in the last quarter. Janus Henderson Group PLC increased its position in DXC Technology by 40.6% during the 2nd quarter. Janus Henderson Group PLC now owns 284,690 shares of the company’s stock valued at $15,699,000 after buying an additional 82,203 shares in the last quarter. M&T Bank Corp increased its position in DXC Technology by 2.7% during the 2nd quarter. M&T Bank Corp now owns 39,191 shares of the company’s stock valued at $2,162,000 after buying an additional 1,034 shares in the last quarter. Finally, Arizona State Retirement System increased its position in DXC Technology by 64.4% during the 2nd quarter. Arizona State Retirement System now owns 137,718 shares of the company’s stock valued at $7,595,000 after buying an additional 53,942 shares in the last quarter. Hedge funds and other institutional investors own 84.25% of the company’s stock.

About DXC Technology

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates through three segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and United States Public Sector (USPS).

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