Illinois Municipal Retirement Fund Has $7.87 Million Stock Holdings in DXC Technology (NYSE:DXC)

Illinois Municipal Retirement Fund grew its holdings in DXC Technology (NYSE:DXC) by 72.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 343,959 shares of the company’s stock after buying an additional 144,762 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in DXC Technology were worth $7,866,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Covestor Ltd increased its position in DXC Technology by 2.9% in the third quarter. Covestor Ltd now owns 27,804 shares of the company’s stock worth $579,000 after purchasing an additional 785 shares during the period. New Mexico Educational Retirement Board grew its position in shares of DXC Technology by 7.2% during the 3rd quarter. New Mexico Educational Retirement Board now owns 11,846 shares of the company’s stock worth $247,000 after buying an additional 800 shares during the period. Equitable Trust Co. grew its position in shares of DXC Technology by 6.9% during the 4th quarter. Equitable Trust Co. now owns 16,288 shares of the company’s stock worth $373,000 after buying an additional 1,045 shares during the period. OMERS ADMINISTRATION Corp grew its position in shares of DXC Technology by 2.2% during the 3rd quarter. OMERS ADMINISTRATION Corp now owns 51,800 shares of the company’s stock worth $1,079,000 after buying an additional 1,100 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of DXC Technology by 3.9% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 41,254 shares of the company’s stock worth $859,000 after buying an additional 1,545 shares during the period. 96.20% of the stock is currently owned by institutional investors and hedge funds.

DXC Technology Trading Up 3.6 %

NYSE DXC opened at $21.16 on Wednesday. The stock’s 50 day moving average price is $20.94 and its two-hundred day moving average price is $21.93. The company has a debt-to-equity ratio of 1.15, a quick ratio of 1.11 and a current ratio of 1.11. DXC Technology has a 52 week low of $18.61 and a 52 week high of $28.89.

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

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other DXC Technology news, EVP William L. Deckelman, Jr. sold 18,102 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $21.73, for a total transaction of $393,356.46. Following the transaction, the executive vice president now owns 124,806 shares of the company’s stock, valued at approximately $2,712,034.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.87% of the company’s stock.

About DXC Technology

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).