Paul N. Saleh Sells 10,000 Shares of Computer Sciences Corp. (CSC) Stock
Computer Sciences Corp. (NYSE:CSC) CFO Paul N. Saleh sold 10,000 shares of the company’s stock in a transaction on Monday, October 3rd. The shares were sold at an average price of $51.93, for a total value of $519,300.00. Following the sale, the chief financial officer now directly owns 96,153 shares of the company’s stock, valued at $4,993,225.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Computer Sciences Corp. (NYSE:CSC) opened at 51.73 on Friday. The stock’s 50 day moving average price is $48.87 and its 200-day moving average price is $43.91. The firm has a market cap of $7.26 billion, a price-to-earnings ratio of 106.88 and a beta of 1.24. Computer Sciences Corp. has a one year low of $24.27 and a one year high of $53.46.
Computer Sciences Corp. (NYSE:CSC) last posted its earnings results on Monday, August 8th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm earned $1.93 billion during the quarter, compared to analysts’ expectations of $1.93 billion. During the same period in the previous year, the firm earned $1.11 earnings per share. The company’s revenue was up 7.0% on a year-over-year basis. Analysts forecast that Computer Sciences Corp. will post $2.82 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 4th. Shareholders of record on Wednesday, August 31st were paid a $0.14 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $0.56 dividend on an annualized basis and a yield of 1.08%. Computer Sciences Corp.’s payout ratio is 130.23%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Fulton Bank N.A. boosted its position in Computer Sciences Corp. by 0.8% in the third quarter. Fulton Bank N.A. now owns 7,266 shares of the company’s stock worth $379,000 after buying an additional 55 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in Computer Sciences Corp. by 232.3% in the third quarter. BNP Paribas Arbitrage SA now owns 233,323 shares of the company’s stock worth $12,182,000 after buying an additional 163,112 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its position in Computer Sciences Corp. by 0.5% in the second quarter. Northwestern Mutual Investment Management Company LLC now owns 23,941 shares of the company’s stock worth $1,189,000 after buying an additional 121 shares during the last quarter. Mason Street Advisors LLC acquired a new position in Computer Sciences Corp. during the second quarter worth about $3,140,000. Finally, Public Employees Retirement System of Ohio boosted its position in Computer Sciences Corp. by 12.8% in the second quarter. Public Employees Retirement System of Ohio now owns 40,776 shares of the company’s stock worth $2,025,000 after buying an additional 4,643 shares during the last quarter. 91.97% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have recently commented on CSC. Barclays PLC reaffirmed a “buy” rating on shares of Computer Sciences Corp. in a report on Saturday, July 9th. Zacks Investment Research raised Computer Sciences Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research note on Monday, July 11th. Citigroup Inc. increased their price objective on Computer Sciences Corp. from $44.00 to $49.00 and gave the stock a “neutral” rating in a research note on Thursday, August 4th. Jefferies Group reissued a “buy” rating and issued a $63.00 price objective on shares of Computer Sciences Corp. in a research note on Wednesday, June 29th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $57.00 price objective on shares of Computer Sciences Corp. in a research note on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $48.00.
Computer Sciences Corp. Company Profile
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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