DXC Technology (NYSE:DXC) Reaches New 52-Week Low at $23.77

DXC Technology (NYSE:DXCGet Rating)’s stock price hit a new 52-week low on Friday . The stock traded as low as $23.77 and last traded at $23.83, with a volume of 105079 shares. The stock had previously closed at $26.30.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on DXC shares. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of DXC Technology from $53.00 to $48.00 in a report on Thursday, May 26th. BMO Capital Markets decreased their target price on DXC Technology from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Thursday, August 4th. Susquehanna cut DXC Technology from a “positive” rating to a “neutral” rating and reduced their price target for the stock from $39.00 to $31.00 in a research report on Friday, September 16th. Cowen reduced their price objective on shares of DXC Technology from $41.00 to $37.00 and set an “outperform” rating on the stock in a research report on Monday, August 15th. Finally, Susquehanna Bancshares lowered shares of DXC Technology to a “neutral” rating and cut their target price for the company from $39.00 to $31.00 in a report on Friday, September 16th. Two investment analysts have rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $35.00.

DXC Technology Stock Performance

The firm has a 50 day moving average price of $27.60 and a 200-day moving average price of $29.90. The stock has a market capitalization of $5.45 billion, a PE ratio of 10.68, a PEG ratio of 0.60 and a beta of 2.06. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.77.

DXC Technology (NYSE:DXCGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.82 by ($0.07). DXC Technology had a return on equity of 16.61% and a net margin of 3.42%. The firm had revenue of $3.71 billion for the quarter, compared to analysts’ expectations of $3.71 billion. Research analysts expect that DXC Technology will post 3.57 EPS for the current fiscal year.

Institutional Investors Weigh In On DXC Technology

Large investors have recently made changes to their positions in the stock. Ensign Peak Advisors Inc raised its position in DXC Technology by 96.4% in the 4th quarter. Ensign Peak Advisors Inc now owns 60,570 shares of the company’s stock valued at $1,950,000 after purchasing an additional 29,727 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of DXC Technology by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 4,918,927 shares of the company’s stock valued at $158,156,000 after purchasing an additional 54,887 shares during the last quarter. IMA Wealth Inc. increased its holdings in shares of DXC Technology by 5.6% in the 4th quarter. IMA Wealth Inc. now owns 81,408 shares of the company’s stock valued at $2,621,000 after acquiring an additional 4,284 shares during the period. ETF Managers Group LLC boosted its stake in DXC Technology by 5.0% during the 4th quarter. ETF Managers Group LLC now owns 21,855 shares of the company’s stock worth $708,000 after purchasing an additional 1,038 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in DXC Technology by 53.7% in the fourth quarter. Goldman Sachs Group Inc. now owns 1,504,148 shares of the company’s stock valued at $48,419,000 after purchasing an additional 525,773 shares during the period. 87.01% of the stock is currently owned by hedge funds and other institutional investors.

About DXC Technology

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DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily in North America, Europe, Asia, and Australia. It operates in two segments, Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment offers a portfolio of analytics services and extensive partner ecosystem that help its customers to gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering, consulting, and data analytics solutions that enable businesses to run and manage their mission-critical functions, transform their operations, and develop new ways of doing business.

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