Illinois Municipal Retirement Fund Boosts Position in DXC Technology (NYSE:DXC)

Illinois Municipal Retirement Fund boosted its holdings in DXC Technology (NYSE:DXC) by 72.7% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 343,959 shares of the company’s stock after buying an additional 144,762 shares during the period. Illinois Municipal Retirement Fund owned approximately 0.18% of DXC Technology worth $7,866,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of DXC. CWM LLC raised its stake in shares of DXC Technology by 108.4% during the third quarter. CWM LLC now owns 6,952 shares of the company’s stock valued at $145,000 after purchasing an additional 3,616 shares during the period. Czech National Bank increased its stake in shares of DXC Technology by 33.1% in the third quarter. Czech National Bank now owns 35,861 shares of the company’s stock worth $747,000 after buying an additional 8,908 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of DXC Technology by 23.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 147,965 shares of the company’s stock worth $3,082,000 after buying an additional 27,839 shares during the last quarter. Xponance Inc. increased its stake in shares of DXC Technology by 5.0% in the third quarter. Xponance Inc. now owns 36,464 shares of the company’s stock worth $760,000 after buying an additional 1,720 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of DXC Technology by 12.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 42,127 shares of the company’s stock worth $878,000 after buying an additional 4,798 shares during the last quarter. Hedge funds and other institutional investors own 96.20% of the company’s stock.

DXC Technology Trading Up 3.6 %

Shares of DXC opened at $21.16 on Wednesday. DXC Technology has a 1 year low of $18.61 and a 1 year high of $28.89. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a fifty day moving average of $20.94 and a 200-day moving average of $21.93.

DXC Technology (NYSE:DXC) last announced its quarterly earnings results on Thursday, February 1st. The company reported $0.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.77 by $0.10. DXC Technology had a negative net margin of 3.35% and a positive return on equity of 19.00%. The company had revenue of $3.40 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter in the previous year, the company posted $0.95 earnings per share. The company’s revenue for the quarter was down 4.7% compared to the same quarter last year. Equities analysts forecast that DXC Technology will post 3.03 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on DXC. Royal Bank of Canada restated a “sector perform” rating and issued a $24.00 price target on shares of DXC Technology in a research note on Friday, February 2nd. Citigroup lowered shares of DXC Technology from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $24.00 to $21.00 in a research note on Wednesday, January 17th. JPMorgan Chase & Co. downgraded shares of DXC Technology from a “neutral” rating to an “underweight” rating and decreased their price objective for the stock from $27.00 to $24.00 in a report on Wednesday, January 24th. Finally, Guggenheim began coverage on shares of DXC Technology in a report on Tuesday, March 19th. They issued a “neutral” rating and a $22.00 price objective for the company. Three analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to data from MarketBeat.com, DXC Technology has an average rating of “Hold” and an average target price of $23.20.

Insider Activity at DXC Technology

In related news, EVP William L. Deckelman, Jr. sold 18,102 shares of DXC Technology stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $21.73, for a total transaction of $393,356.46. Following the sale, the executive vice president now directly owns 124,806 shares in the company, valued at $2,712,034.38. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.87% of the company’s stock.

DXC Technology Profile

DXC Technology Company, together with its subsidiaries, provides information technology services and solutions primarily 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).