DXC Technology (NYSE:DXC) Stock Price Down 2.7% - Here's Why

DXC Technology (NYSE:DXC - Get Free Report)'s share price dropped 2.7% during trading on Friday . The stock traded as low as $20.56 and last traded at $20.92. Approximately 475,661 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 2,011,961 shares. The stock had previously closed at $21.49.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on DXC shares. BMO Capital Markets increased their price objective on shares of DXC Technology from $22.00 to $25.00 and gave the company a "market perform" rating in a research note on Monday, November 11th. JPMorgan Chase & Co. increased their price target on DXC Technology from $19.00 to $22.00 and gave the company an "underweight" rating in a research report on Friday, September 6th. Finally, Susquehanna boosted their price objective on DXC Technology from $19.00 to $23.00 and gave the stock a "neutral" rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $20.89.

DXC Technology Trading Down 4.1 %

The firm has a 50 day moving average of $21.33 and a 200 day moving average of $20.13. The firm has a market cap of $3.73 billion, a PE ratio of 257.53, a P/E/G ratio of 1.40 and a beta of 1.65. The company has a quick ratio of 1.25, a current ratio of 1.25 and a debt-to-equity ratio of 1.18.

DXC Technology (NYSE:DXC - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.21. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.21 billion. DXC Technology had a return on equity of 20.42% and a net margin of 0.18%. During the same period in the previous year, the company posted $0.70 earnings per share. Equities analysts anticipate that DXC Technology will post 3.18 earnings per share for the current year.

Hedge Funds Weigh In On DXC Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp boosted its holdings in DXC Technology by 40.1% in the 2nd quarter. Fifth Third Bancorp now owns 1,954 shares of the company's stock worth $37,000 after buying an additional 559 shares during the period. United Services Automobile Association lifted its position in shares of DXC Technology by 5.0% during the second quarter. United Services Automobile Association now owns 14,333 shares of the company's stock worth $274,000 after acquiring an additional 679 shares in the last quarter. GAMMA Investing LLC boosted its holdings in shares of DXC Technology by 48.7% in the third quarter. GAMMA Investing LLC now owns 3,425 shares of the company's stock worth $71,000 after acquiring an additional 1,122 shares during the period. William B. Walkup & Associates Inc. purchased a new position in shares of DXC Technology in the second quarter valued at $26,000. Finally, Benjamin F. Edwards & Company Inc. raised its stake in shares of DXC Technology by 4.8% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 32,800 shares of the company's stock valued at $626,000 after purchasing an additional 1,500 shares during the period. Institutional investors own 96.20% of the company's stock.

DXC Technology Company Profile

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).