Computer Sciences Corp. (CSC) Sees Unusually-High Trading Volume
Computer Sciences Corp. (NYSE:CSC) shares saw an uptick in trading volume on Monday . 1,395,251 shares changed hands during trading, a decline of 9% from the previous session’s volume of 1,536,112 shares.The stock last traded at $50.27 and had previously closed at $48.89.
A number of research firms recently weighed in on CSC. Jefferies Group boosted their price target on shares of Computer Sciences Corp. from $36.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, May 26th. Deutsche Bank AG restated a “hold” rating and set a $48.00 price target (up from $34.00) on shares of Computer Sciences Corp. in a research report on Wednesday, May 25th. Zacks Investment Research upgraded shares of Computer Sciences Corp. from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research report on Monday, July 11th. Barclays PLC restated a “buy” rating on shares of Computer Sciences Corp. in a research report on Saturday, July 9th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Computer Sciences Corp. in a research note on Thursday, May 26th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $48.00.
The firm’s 50-day moving average price is $47.27 and its 200 day moving average price is $42.12. The firm has a market capitalization of $6.99 billion, a PE ratio of 102.87 and a beta of 1.30.
Computer Sciences Corp. (NYSE:CSC) last issued its quarterly earnings data on Monday, August 8th. The company reported $0.53 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.08. The firm had revenue of $1.93 billion for the quarter, compared to analysts’ expectations of $1.93 billion. Computer Sciences Corp. had a net margin of 0.77% and a return on equity of 19.10%. The firm’s revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company earned $1.11 EPS. On average, equities analysts expect that Computer Sciences Corp. will post $2.82 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.14 per share. The ex-dividend date is Monday, August 29th. This represents a $0.56 annualized dividend and a dividend yield of 1.12%. Computer Sciences Corp.’s dividend payout ratio is currently 130.23%.
In other Computer Sciences Corp. news, CEO John M. Lawrie sold 6,100 shares of the firm’s stock in a transaction dated Monday, June 27th. The shares were sold at an average price of $47.32, for a total transaction of $288,652.00. Following the sale, the chief executive officer now directly owns 400,729 shares of the company’s stock, valued at approximately $18,962,496.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John M. Lawrie sold 8,069 shares of the firm’s stock in a transaction dated Tuesday, July 12th. The stock was sold at an average price of $49.63, for a total transaction of $400,464.47. Following the sale, the chief executive officer now directly owns 400,729 shares in the company, valued at $19,888,180.27. The disclosure for this sale can be found here. Company insiders own 1.53% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. boosted its stake in Computer Sciences Corp. by 38.6% in the first quarter. Envestnet Asset Management Inc. now owns 38,556 shares of the company’s stock valued at $1,326,000 after buying an additional 10,746 shares in the last quarter. Bogle Investment Management L P DE purchased a new stake in Computer Sciences Corp. during the first quarter valued at about $4,743,000. Ngam Advisors L.P. bought a new position in shares of Computer Sciences Corp. during the second quarter valued at $727,000. Nuveen Asset Management LLC raised its position in shares of Computer Sciences Corp. by 15.3% in the first quarter. Nuveen Asset Management LLC now owns 152,074 shares of the company’s stock valued at $5,230,000 after buying an additional 20,186 shares during the last quarter. Finally, LS Investment Advisors LLC raised its position in shares of Computer Sciences Corp. by 77.5% in the second quarter. LS Investment Advisors LLC now owns 8,680 shares of the company’s stock valued at $431,000 after buying an additional 3,789 shares during the last quarter. 91.97% of the stock is currently owned by institutional investors.
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 three segments: Global Business Services (GBS), which is a provider of various technology solutions, including consulting, applications services and software; Global Infrastructure Services (GIS), which provides solutions, such as managed and virtual desktop solutions, and data center management, and North American Public Sector (NPS), which delivers IT, mission and operations-related services.
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