Illinois Municipal Retirement Fund lessened its holdings in DXC Technology (NYSE:DXC) by 18.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm 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 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of DXC. Principal Financial Group Inc. grew its stake in shares of DXC Technology by 987.0% during the 4th quarter. Principal Financial Group Inc. now owns 5,194,937 shares of the company’s stock worth $133,770,000 after purchasing an additional 4,717,042 shares during the period. Norges Bank purchased a new position in shares of DXC Technology during the 4th quarter valued at approximately $81,856,000. Assenagon Asset Management S.A. lifted its position in shares of DXC Technology by 714.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,387,660 shares of the company’s stock valued at $74,638,000 after buying an additional 2,094,540 shares in the last quarter. Morgan Stanley lifted its position in shares of DXC Technology by 65.3% during the 4th quarter. Morgan Stanley now owns 5,032,718 shares of the company’s stock valued at $129,592,000 after buying an additional 1,988,804 shares in the last quarter. Finally, Victory Capital Management Inc. lifted its position in shares of DXC Technology by 35.1% during the 4th quarter. Victory Capital Management Inc. now owns 6,623,871 shares of the company’s stock valued at $170,564,000 after buying an additional 1,721,544 shares in the last quarter. 82.27% of the stock is currently owned by institutional investors and hedge funds.
NYSE DXC opened at $33.67 on Tuesday. DXC Technology has a 52 week low of $13.65 and a 52 week high of $33.86. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 1.69. The business’s fifty day simple moving average is $30.52 and its 200-day simple moving average is $25.92. The firm has a market cap of $8.57 billion, a PE ratio of -2.21 and a beta of 2.46.
In other DXC Technology news, EVP William L. Deckelman, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 8th. The stock was sold at an average price of $26.23, for a total value of $393,450.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Raul J. Fernandez acquired 9,500 shares of DXC Technology stock in a transaction on Tuesday, February 9th. The stock was purchased at an average price of $26.28 per share, with a total value of $249,660.00. The disclosure for this purchase can be found here. 0.81% of the stock is owned by insiders.
A number of brokerages have recently issued reports on DXC. Royal Bank of Canada increased their target price on DXC Technology from $25.00 to $38.00 and gave the company an “outperform” rating in a research report on Friday, February 5th. Bank of America upgraded DXC Technology from an “underperform” rating to a “neutral” rating and set a $27.00 target price on the stock in a research report on Friday, February 19th. Wolfe Research upgraded DXC Technology from a “peer perform” rating to an “outperform” rating and set a $28.00 target price on the stock in a research report on Friday, February 5th. Morgan Stanley lowered DXC Technology from an “overweight” rating to an “equal weight” rating and set a $31.00 price objective on the stock. in a report on Friday, January 29th. Finally, Deutsche Bank Aktiengesellschaft upgraded DXC Technology from a “hold” rating to a “buy” rating and raised their price objective for the company from $28.00 to $44.00 in a report on Tuesday, March 30th. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $28.80.
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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