BMO Capital Markets Reiterates “Outperform” Rating for Computer Sciences Corp. (CSC)
Computer Sciences Corp. (NYSE:CSC)‘s stock had its “outperform” rating reissued by equities research analysts at BMO Capital Markets in a report issued on Tuesday.
Several other research analysts have also recently weighed in on CSC. Barclays PLC reaffirmed a “buy” rating on shares of Computer Sciences Corp. in a research note on Saturday, July 9th. Zacks Investment Research raised Computer Sciences Corp. from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Monday, July 11th. Citigroup Inc. upped their target price on Computer Sciences Corp. from $44.00 to $49.00 and gave the company a “neutral” rating in a report on Thursday, August 4th. Jefferies Group reaffirmed a “buy” rating and set a $63.00 target price on shares of Computer Sciences Corp. in a report on Wednesday, June 29th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $46.00 target price on shares of Computer Sciences Corp. in a report on Wednesday, September 7th. One investment analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $49.33.
Computer Sciences Corp. (NYSE:CSC) traded up 1.60% during mid-day trading on Tuesday, reaching $54.71. The company’s stock had a trading volume of 917,125 shares. The firm has a 50-day moving average of $49.99 and a 200 day moving average of $44.97. The firm has a market capitalization of $7.68 billion, a price-to-earnings ratio of 113.04 and a beta of 1.23. Computer Sciences Corp. has a 1-year low of $24.27 and a 1-year high of $54.72.
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Computer Sciences Corp. (NYSE:CSC) last announced its earnings results on Monday, August 8th. The company reported $0.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.08. Computer Sciences Corp. had a return on equity of 19.10% and a net margin of 0.77%. The business earned $1.93 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same quarter last year, the business posted $1.11 earnings per share. The company’s quarterly revenue was up 7.0% on a year-over-year basis. Equities analysts expect that Computer Sciences Corp. will post $2.82 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date was Monday, August 29th. Computer Sciences Corp.’s dividend payout ratio is 130.23%.
In other news, CEO John M. Lawrie sold 8,000 shares of the stock in a transaction dated Monday, July 25th. The stock was sold at an average price of $47.86, for a total transaction of $382,880.00. Following the transaction, the chief executive officer now owns 400,729 shares of the company’s stock, valued at approximately $19,178,889.94. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Paul N. Saleh sold 10,000 shares of the stock in a transaction dated Monday, October 3rd. The shares were sold at an average price of $51.93, for a total value of $519,300.00. Following the transaction, the chief financial officer now directly owns 96,153 shares in the company, valued at approximately $4,993,225.29. The disclosure for this sale can be found here. Insiders own 1.53% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of CSC. Boston Partners raised its position in shares of Computer Sciences Corp. by 30.3% in the second quarter. Boston Partners now owns 10,526,006 shares of the company’s stock worth $522,616,000 after buying an additional 2,444,915 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in shares of Computer Sciences Corp. during the second quarter worth approximately $47,620,000. Roystone Capital Management LP bought a new position in shares of Computer Sciences Corp. during the second quarter worth approximately $45,159,000. Palestra Capital Management LLC bought a new position in shares of Computer Sciences Corp. during the second quarter worth approximately $41,210,000. Finally, CI Global Investments Inc. raised its position in shares of Computer Sciences Corp. by 11.5% in the second quarter. CI Global Investments Inc. now owns 6,792,258 shares of the company’s stock worth $337,236,000 after buying an additional 700,992 shares in the last quarter. 92.07% of the stock is currently owned by institutional investors and hedge funds.
About Computer Sciences Corp.
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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