Insider Selling: Computer Sciences CEO Sells 8,000 Shares of Stock (CSC)
Computer Sciences (NYSE:CSC) CEO John M. Lawrie sold 8,000 shares of the stock on the open market in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $60.03, for a total value of $480,240.00. Following the completion of the sale, the chief executive officer now directly owns 213,150 shares of the company’s stock, valued at approximately $12,795,395. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
CSC has been the subject of a number of recent research reports. Analysts at RBC Capital initiated coverage on shares of Computer Sciences in a research note on Tuesday. They set a “sector perform” rating and a $66.00 price target on the stock. Separately, analysts at Morgan Stanley initiated coverage on shares of Computer Sciences in a research note on Monday, July 7th. They set an “underweight” rating and a $60.00 price target on the stock. Finally, analysts at Barclays reiterated an “equal weight” rating on shares of Computer Sciences in a research note on Monday, June 16th. They now have a $67.00 price target on the stock, up previously from $58.00. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company. Computer Sciences currently has an average rating of “Hold” and a consensus price target of $64.08.
Shares of Computer Sciences (NYSE:CSC) traded up 0.58% on Wednesday, hitting $60.40. 971,896 shares of the company’s stock traded hands. Computer Sciences has a 52 week low of $46.80 and a 52 week high of $65.52. The stock’s 50-day moving average is $61.84 and its 200-day moving average is $61.80. The company has a market cap of $8.762 billion and a price-to-earnings ratio of 13.93.
Computer Sciences (NYSE:CSC) last released its earnings data on Thursday, August 7th. The company reported $1.03 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.94 by $0.09. The company had revenue of $3.24 billion for the quarter, compared to the consensus estimate of $3.19 billion. During the same quarter last year, the company posted $0.91 earnings per share. Computer Sciences’s revenue was down .5% compared to the same quarter last year. On average, analysts predict that Computer Sciences will post $4.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Tuesday, October 7th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend is Friday, August 29th.
Computer Sciences Corporation (NYSE:CSC) is engaged in the information technology (IT) and professional services industry.
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