Computer Sciences Corp. (CSC) Given “Buy” Rating at Barclays PLC
Barclays PLC restated their buy rating on shares of Computer Sciences Corp. (NYSE:CSC) in a research note released on Wednesday morning. The brokerage currently has a $68.00 price objective on the stock.
Several other analysts also recently weighed in on CSC. BMO Capital Markets reiterated 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 cut shares of Computer Sciences Corp. from a buy rating to a hold rating in a research report on Thursday, July 28th. Citigroup Inc. raised their price target on shares of Computer Sciences Corp. from $44.00 to $49.00 and gave the company a neutral rating in a research report on Thursday, August 4th. Cantor Fitzgerald reissued a hold rating on shares of Computer Sciences Corp. in a research report on Monday, August 8th. Finally, Morgan Stanley decreased their price target on shares of Computer Sciences Corp. from $55.00 to $53.00 and set an equal weight rating for the company in a research report on Tuesday, August 9th. Eleven analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and an average target price of $48.93.
Shares of Computer Sciences Corp. (NYSE:CSC) traded up 0.85% during trading on Wednesday, hitting $61.94. The stock had a trading volume of 295,763 shares. Computer Sciences Corp. has a one year low of $24.27 and a one year high of $62.14. The stock’s 50 day moving average price is $54.83 and its 200-day moving average price is $48.54. The stock’s market cap is $8.72 billion.
Computer Sciences Corp. (NYSE:CSC) last posted its earnings results on Thursday, November 3rd. The company reported $0.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.14. Computer Sciences Corp. had a negative net margin of 1.21% and a positive return on equity of 16.62%. The firm earned $1.87 billion during the quarter, compared to the consensus estimate of $1.87 billion. During the same quarter last year, the firm earned $1.19 EPS. The firm’s revenue for the quarter was up 7.2% on a year-over-year basis. Analysts expect that Computer Sciences Corp. will post $2.78 earnings per share for the current fiscal year.
In related news, Chairman John M. Lawrie sold 4,190 shares of the business’s stock in a transaction dated Thursday, October 20th. The shares were sold at an average price of $55.50, for a total transaction of $232,545.00. Following the sale, the chairman now owns 383,329 shares of the company’s stock, valued at $21,274,759.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Paul N. Saleh sold 65,000 shares of the business’s stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $50.00, for a total transaction of $3,250,000.00. Following the sale, the chief financial officer now directly owns 151,153 shares in the company, valued at approximately $7,557,650. The disclosure for this sale can be found here. Corporate insiders own 1.53% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. FineMark National Bank & Trust bought a new stake in Computer Sciences Corp. during the third quarter worth approximately $110,000. Creative Planning increased its stake in shares of Computer Sciences Corp. by 31.6% in the third quarter. Creative Planning now owns 2,150 shares of the company’s stock valued at $112,000 after buying an additional 516 shares during the period. Checchi Capital Advisers LLC increased its stake in shares of Computer Sciences Corp. by 4.0% in the second quarter. Checchi Capital Advisers LLC now owns 2,726 shares of the company’s stock valued at $135,000 after buying an additional 104 shares during the period. Laurion Capital Management LP acquired a new stake in shares of Computer Sciences Corp. during the second quarter valued at about $204,000. Finally, Jane Street Group LLC acquired a new stake in shares of Computer Sciences Corp. during the second quarter valued at about $204,000. 89.52% of the stock is currently owned by hedge funds and other 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 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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