Why DXC Technology's Stock Is Trading Lower Today

DXC Technology Co DXC shares are trading lower on Friday, after the company reported worse-than-expected fourth-quarter sales results.

DXC Technology reported quarterly earnings of $1.20 per share, which beat the analyst consensus estimate of 99 cents. The company reported quarterly sales of $4.82 billion, which missed the analyst consensus estimate of $4.89 billion.

Following earnings, JPMorgan downgraded the stock from Overweight to Neutral and lowered the price target from $25 to $17.

DXC Technology is a vendor-independent IT services provider that started trading in April 2017. DXC was created via the amalgamation of Computer Sciences Corporation, or CSC, and Hewlett Packard Enterprise's Services business. The firm has roughly 6,000 clients, of which over 200 are within the Fortune 500.

DXC Technology shares were trading down 8.81% at $15.11 at time of publication on Friday. The stock has a 52-week high of $57.23 and a 52-week low of $7.90.