A number of other research firms have also issued reports on CSC. Cantor Fitzgerald set a $58.00 target price on shares of Computer Sciences and gave the stock a hold rating in a report on Tuesday, November 29th. Citigroup Inc reaffirmed an in-line rating and set a $70.00 target price on shares of Computer Sciences in a report on Tuesday, January 24th. Zacks Investment Research lowered shares of Computer Sciences from a hold rating to a sell rating in a report on Tuesday, January 24th. Stifel Nicolaus upped their target price on shares of Computer Sciences from $57.00 to $66.00 and gave the stock a hold rating in a report on Thursday, January 26th. Finally, Pacific Crest initiated coverage on shares of Computer Sciences in a report on Friday, March 3rd. They set a sector weight rating and a $74.00 target price for the company. Nine equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average target price of $64.25.
Computer Sciences (NYSE:CSC) opened at 68.05 on Wednesday. The company has a 50-day moving average of $69.18 and a 200 day moving average of $60.37. Computer Sciences has a 1-year low of $32.25 and a 1-year high of $71.79. The stock’s market cap is $9.60 billion.
Computer Sciences (NYSE:CSC) last issued its quarterly earnings results on Thursday, February 2nd. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.70 by $0.11. The company earned $1.92 billion during the quarter, compared to analyst estimates of $1.89 billion. Computer Sciences had a negative net margin of 1.34% and a positive return on equity of 17.45%. The firm’s revenue was up 9.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.71 EPS. Analysts predict that Computer Sciences will post $2.79 EPS for the current year.
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The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Wednesday, March 29th will be issued a $0.14 dividend. This represents a $0.56 dividend on an annualized basis and a dividend yield of 0.82%. The ex-dividend date is Monday, March 27th. Computer Sciences’s dividend payout ratio is currently -74.67%.
In related news, Chairman John M. Lawrie sold 647 shares of the company’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $69.48, for a total value of $44,953.56. Following the completion of the sale, the chairman now owns 381,129 shares of the company’s stock, valued at $26,480,842.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman John M. Lawrie sold 4,000 shares of the company’s stock in a transaction dated Wednesday, December 28th. The shares were sold at an average price of $60.24, for a total transaction of $240,960.00. Following the completion of the sale, the chairman now directly owns 386,329 shares of the company’s stock, valued at approximately $23,272,458.96. The disclosure for this sale can be found here. Insiders sold 29,263 shares of company stock valued at $1,827,692 in the last three months. 1.53% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Scout Investments Inc. raised its stake in shares of Computer Sciences by 16.6% in the third quarter. Scout Investments Inc. now owns 1,547,777 shares of the company’s stock worth $80,809,000 after buying an additional 220,057 shares in the last quarter. Riverhead Capital Management LLC raised its stake in shares of Computer Sciences by 14.5% in the third quarter. Riverhead Capital Management LLC now owns 46,869 shares of the company’s stock worth $2,447,000 after buying an additional 5,939 shares in the last quarter. LMR Partners LLP raised its stake in shares of Computer Sciences by 358.9% in the third quarter. LMR Partners LLP now owns 133,129 shares of the company’s stock worth $6,951,000 after buying an additional 104,119 shares in the last quarter. Ameriprise Financial Inc. raised its stake in shares of Computer Sciences by 4.9% in the third quarter. Ameriprise Financial Inc. now owns 475,165 shares of the company’s stock worth $24,810,000 after buying an additional 22,080 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. purchased a new stake in shares of Computer Sciences during the third quarter worth about $27,410,000. 97.75% of the stock is owned by hedge funds and other institutional investors.
About Computer Sciences
Computer Sciences Corporation (CSC) is a global provider of information technology (IT) and professional services and solutions. The Company operates through two segments: Global Business Services (GBS) and Global Infrastructure Services (GIS). The GBS segment provides various technology solutions, including consulting, applications services and software.
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