Royal Bank of Canada Cuts DXC Technology (NYSE:DXC) Price Target to $18.00

DXC Technology (NYSE:DXC) had its price objective decreased by investment analysts at Royal Bank of Canada from $27.00 to $18.00 in a research note issued on Thursday,Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank of Canada’s price objective indicates a potential upside of 17.99% from the company’s previous close.

Several other research firms also recently commented on DXC. BMO Capital Markets decreased their price objective on DXC Technology from $26.00 to $17.00 and set a “market perform” rating for the company in a report on Thursday. Guggenheim restated a “neutral” rating on shares of DXC Technology in a research note on Monday, May 12th. Susquehanna lowered their price objective on shares of DXC Technology from $23.00 to $16.00 and set a “neutral” rating on the stock in a report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their price objective on shares of DXC Technology from $22.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, DXC Technology presently has a consensus rating of “Hold” and an average target price of $18.00.

DXC Technology Trading Down 4.8%

NYSE:DXC opened at $15.26 on Thursday. DXC Technology has a 12 month low of $13.44 and a 12 month high of $24.83. The company has a current ratio of 1.34, a quick ratio of 1.34 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -36.32, a PEG ratio of 1.16 and a beta of 1.18. The firm has a fifty day simple moving average of $15.90 and a two-hundred day simple moving average of $19.07.

DXC Technology (NYSE:DXC) last issued its earnings results on Wednesday, May 14th. The company reported $0.84 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.08. DXC Technology had a positive return on equity of 20.70% and a negative net margin of 0.57%. The business had revenue of $3.17 billion during the quarter, compared to analyst estimates of $3.13 billion. Analysts expect that DXC Technology will post 3.35 EPS for the current fiscal year.

Hedge Funds Weigh In On DXC Technology

Several large investors have recently bought and sold shares of DXC. Caxton Associates LLP purchased a new stake in shares of DXC Technology in the first quarter valued at about $354,000. Goldman Sachs Group Inc. boosted its holdings in DXC Technology by 4.1% during the first quarter. Goldman Sachs Group Inc. now owns 1,239,558 shares of the company’s stock worth $21,134,000 after purchasing an additional 49,228 shares during the last quarter. Millennium Management LLC grew its position in DXC Technology by 1,765.9% in the 1st quarter. Millennium Management LLC now owns 1,652,331 shares of the company’s stock worth $28,172,000 after purchasing an additional 1,563,775 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in DXC Technology by 27.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 469,827 shares of the company’s stock valued at $8,011,000 after buying an additional 100,927 shares during the last quarter. Finally, Banque Transatlantique SA bought a new position in shares of DXC Technology during the 1st quarter worth approximately $1,076,000. 96.20% of the stock is currently owned by institutional investors.

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).