DXC Technology (NYSE:DXC) Downgraded by Susquehanna Bancshares to “Neutral”

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DXC Technology (NYSE: DXC – Get an Evaluation) was downgraded by Susquehanna Bancshares to a “neutral” rating in a report on Friday, Stock Target Advisor reports. They currently have a target price of $31.00 on the stock, down from their previous target price of $39.00. Susquehanna Bancshares’ price target indicates a potential upside of 12.85% from the current share price.

Several other research analysts have also recently published reports on DXC. Deutsche Bank Aktiengesellschaft cut its price target on DXC Technology shares from $53.00 to $48.00 in a report Thursday, May 26. Susquehanna cut shares of DXC Technology from a “positive” rating to a “neutral” rating and lowered its target price for the stock from $39.00 to $31.00 in a report released Friday. Morgan Stanley lowered its price target on DXC Technology shares from $33.00 to $30.00 and set an “equal weight” rating for the company in a Thursday, Aug. 4, report. Cowen lowered his price target on DXC Technology shares from $41.00 to $37.00 and set an “outperform” rating for the company in a Monday, Aug. 15 report. Finally, Royal Bank of Canada lowered its price target on DXC Technology shares from $39.00 to $34.00 and set an “outperform” rating for the company in a Thursday, Aug. 4, report. Two research analysts gave the stock a sell rating, four gave the company a hold rating and four gave the company a buy rating. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $35.42.

DXC Technology is trading down 0.6%

DXC shares opened at $27.47 on Friday. The company’s 50-day moving average price is $27.77 and its 200-day moving average price is $30.02. The company has a market capitalization of $6.31 billion, a price/earnings ratio of 12.43, a PEG ratio of 0.60 and a beta of 2.06. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt ratio of 0.77. DXC technology has a 1-year low of $23.99 and a 1-year high of $39.65.

DXC Technology (NYSE:DXC – Get Rating) last announced its results on Wednesday, August 3. The company reported earnings per share of $0.75 for the quarter, missing analyst consensus estimates of $0.82 per ($0.07). The company posted revenue of $3.71 billion for the quarter, versus a consensus estimate of $3.71 billion. DXC Technology had a net margin of 3.42% and a return on equity of 16.61%. Sell-side analysts expect DXC Technology to post EPS of 3.57 for the current year.

Institutional trading of DXC technology

Institutional investors have recently been buying and selling shares of the stock. Arizona State Retirement System increased its stake in DXC Technology by 0.6% in the first quarter. Arizona State Retirement System now owns 68,184 shares of the company worth $2,225,000 after buying 385 additional shares in the last quarter. Kentucky Retirement Systems increased its position in DXC Technology by 2.6% in the first quarter. Kentucky Retirement Systems now owns 15,583 shares of the company worth $508,000 after buying 402 additional shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in DXC Technology by 72.8% during the 1st quarter. ZWJ Investment Counsel Inc. now owns 495,628 shares of the company worth $16,172,000 after purchasing an additional 208,840 shares in the last quarter. Invesco Ltd. increased its position in DXC Technology by 23.0% during the fourth quarter. Invesco Ltd. now owns 12,054,425 shares of the company worth $388,031,000 after purchasing an additional 2,253,875 shares in the last quarter. Finally, Regent Peak Wealth Advisors LLC bought a new position in DXC Technology during Q1 worth approximately $200,000. 87.01% of the shares are currently held by institutional investors and hedge funds.

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 a broad ecosystem of partners that help its customers gain rapid insights, automate operations, and accelerate their digital transformation journeys; and software engineering, consulting, and data analytics solutions that enable companies to run and manage critical functions, transform operations, and develop new ways of doing business.

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