Citigroup Inc. upgraded shares of Computer Sciences Corp. (NYSE:CSC) from a neutral rating to a buy rating in a research report sent to investors on Thursday. Citigroup Inc. currently has $61.00 price objective on the stock.
Other equities analysts have also issued research reports about the stock. BMO Capital Markets restated a buy rating and issued a $57.00 target price on shares of Computer Sciences Corp. in a report on Wednesday, July 27th. Zacks Investment Research upgraded shares of Computer Sciences Corp. from a hold rating to a buy rating and set a $55.00 price objective on the stock in a report on Monday, July 11th. Barclays PLC reiterated a buy rating on shares of Computer Sciences Corp. in a report on Saturday, July 9th. Jefferies Group reiterated a buy rating and set a $63.00 price objective on shares of Computer Sciences Corp. in a report on Wednesday, June 29th. Finally, Morgan Stanley dropped their price objective on shares of Computer Sciences Corp. from $55.00 to $53.00 and set an equal weight rating on the stock in a report on Tuesday, August 9th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. Computer Sciences Corp. has an average rating of Hold and an average target price of $49.33.
Shares of Computer Sciences Corp. (NYSE:CSC) opened at 54.70 on Thursday. Computer Sciences Corp. has a 52 week low of $24.27 and a 52 week high of $54.88. The company has a 50-day moving average of $50.22 and a 200 day moving average of $45.12. The firm has a market capitalization of $7.68 billion, a P/E ratio of 113.02 and a beta of 1.24.
Computer Sciences Corp. (NYSE:CSC) last released its earnings results on Monday, August 8th. The company reported $0.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.08. The business had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.93 billion. Computer Sciences Corp. had a net margin of 0.77% and a return on equity of 19.10%. Computer Sciences Corp.’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.11 earnings per share. Equities research analysts anticipate that Computer Sciences Corp. will post $2.82 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 4th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.14 per share. The ex-dividend date was Monday, August 29th. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.02%. Computer Sciences Corp.’s payout ratio is 130.23%.
In other news, Chairman John M. Lawrie sold 3,900 shares of the firm’s stock in a transaction that occurred on Tuesday, August 9th. The shares were sold at an average price of $48.56, for a total transaction of $189,384.00. Following the sale, the chairman now owns 396,729 shares of the company’s stock, valued at approximately $19,265,160.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Paul N. Saleh sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 3rd. The stock was sold at an average price of $51.93, for a total transaction of $519,300.00. Following the sale, 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 large investors have recently modified their holdings of the company. Boston Partners boosted its stake 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 during the last quarter. JPMorgan Chase & Co. boosted its stake in Computer Sciences Corp. by 91.1% in the first quarter. JPMorgan Chase & Co. now owns 3,547,374 shares of the company’s stock worth $121,994,000 after buying an additional 1,690,788 shares in the last quarter. Emerald Acquisition Ltd. bought a new stake in Computer Sciences Corp. during the second quarter worth about $47,620,000. Roystone Capital Management LP bought a new stake in Computer Sciences Corp. during the second quarter worth about $45,159,000. Finally, Palestra Capital Management LLC bought a new stake in Computer Sciences Corp. during the second quarter worth about $41,210,000. 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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