Illinois Municipal Retirement Fund lowered its stake in DXC Technology (NYSE:DXC) by 18.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 92,311 shares of the company’s stock after selling 21,469 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in DXC Technology were worth $2,886,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of DXC. Crescent Capital Consulting LLC acquired a new stake in DXC Technology during the 4th quarter valued at approximately $35,000. Birchcreek Wealth Management LLC acquired a new stake in DXC Technology during the 4th quarter valued at approximately $38,000. Vantage Consulting Group Inc acquired a new stake in DXC Technology during the 4th quarter valued at approximately $57,000. Clarus Group Inc. acquired a new stake in DXC Technology during the 1st quarter valued at approximately $106,000. Finally, Sowell Financial Services LLC grew its stake in DXC Technology by 180.8% during the 4th quarter. Sowell Financial Services LLC now owns 5,085 shares of the company’s stock valued at $131,000 after purchasing an additional 3,274 shares in the last quarter. Institutional investors and hedge funds own 82.27% of the company’s stock.
Shares of DXC Technology stock opened at $33.67 on Tuesday. The business’s fifty day moving average price is $30.52 and its two-hundred day moving average price is $25.92. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.96 and a quick ratio of 0.96. The company has a market capitalization of $8.57 billion, a P/E ratio of -2.21 and a beta of 2.46. DXC Technology has a 1-year low of $13.65 and a 1-year high of $33.86.
A number of research analysts have commented on DXC shares. BMO Capital Markets increased their target price on DXC Technology from $21.00 to $31.00 and gave the stock a “market perform” rating in a report on Friday, February 5th. Wolfe Research raised DXC Technology from a “peer perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a report on Friday, February 5th. Bank of America raised DXC Technology from an “underperform” rating to a “neutral” rating and set a $27.00 target price on the stock in a report on Friday, February 19th. Morgan Stanley downgraded DXC Technology from an “overweight” rating to an “equal weight” rating and set a $31.00 price target on the stock. in a report on Friday, January 29th. Finally, Royal Bank of Canada raised their price target on DXC Technology from $25.00 to $38.00 and gave the stock an “outperform” rating in a report on Friday, February 5th. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. DXC Technology presently has a consensus rating of “Hold” and a consensus price target of $28.80.
In other news, Director Raul J. Fernandez purchased 9,500 shares of the stock in a transaction dated Tuesday, February 9th. The shares were bought at an average cost of $26.28 per share, for a total transaction of $249,660.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP William L. Deckelman, Jr. sold 15,000 shares of DXC Technology stock in a transaction on Monday, February 8th. The shares were sold at an average price of $26.23, for a total value of $393,450.00. The disclosure for this sale can be found here. 0.81% of the stock is currently owned by company insiders.
DXC Technology Profile
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 and 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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