Computer Sciences Corp. (CSC) Sees Strong Trading Volume
Shares of Computer Sciences Corp. (NYSE:CSC) saw strong trading volume on Thursday . 2,591,915 shares were traded during mid-day trading, an increase of 95% from the previous session’s volume of 1,327,961 shares.The stock last traded at $45.76 and had previously closed at $45.74.
A number of research analysts have recently commented on the stock. Deutsche Bank AG reissued a “hold” rating and issued a $48.00 price objective (up previously from $34.00) on shares of Computer Sciences Corp. in a research report on Wednesday, May 25th. Jefferies Group lifted their price objective on shares of Computer Sciences Corp. from $36.00 to $63.00 and gave the company a “buy” rating in a research report on Thursday, May 26th. Zacks Investment Research raised shares of Computer Sciences Corp. from a “hold” rating to a “buy” rating and set a $55.00 price objective for the company in a research report on Monday, July 11th. Barclays PLC reissued a “buy” rating on shares of Computer Sciences Corp. in a research report on Saturday, July 9th. Finally, Cantor Fitzgerald reissued a “hold” rating on shares of Computer Sciences Corp. in a research report on Thursday, May 26th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $46.93.
The company’s 50-day moving average is $47.97 and its 200 day moving average is $39.33. The stock has a market capitalization of $6.47 billion and a P/E ratio of 95.12.
Computer Sciences Corp. (NYSE:CSC) last announced its earnings results on Monday, August 8th. The company reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.08. During the same quarter in the prior year, the company earned $1.11 EPS. The firm earned $1.93 billion during the quarter, compared to analysts’ expectations of $1.93 billion. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. On average, equities analysts predict that Computer Sciences Corp. will post $2.82 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Investors of record on Wednesday, August 31st will be given a dividend of $0.14 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $0.56 annualized dividend and a yield of 1.22%.
In related news, CEO John M. Lawrie sold 7,100 shares of the stock in a transaction dated Monday, June 13th. The shares were sold at an average price of $51.54, for a total transaction of $365,934.00. Following the completion of the transaction, the chief executive officer now owns 376,963 shares in the company, valued at $19,428,673.02. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman John M. Lawrie sold 5,600 shares of the stock in a transaction dated Wednesday, August 10th. The shares were sold at an average price of $47.61, for a total transaction of $266,616.00. Following the transaction, the chairman now owns 392,629 shares of the company’s stock, valued at approximately $18,693,066.69. The disclosure for this sale can be found here.
A number of institutional investors recently bought and sold shares of CSC. KBC Group NV raised its position in Computer Sciences Corp. by 8.3% in the fourth quarter. KBC Group NV now owns 155,125 shares of the company’s stock valued at $5,069,000 after buying an additional 11,901 shares during the last quarter. Jennison Associates LLC raised its position in Computer Sciences Corp. by 22.1% in the fourth quarter. Jennison Associates LLC now owns 2,986,164 shares of the company’s stock valued at $97,588,000 after buying an additional 540,252 shares during the last quarter. I.G. Investment Management LTD. raised its position in Computer Sciences Corp. by 12.1% in the fourth quarter. I.G. Investment Management LTD. now owns 178,137 shares of the company’s stock valued at $5,822,000 after buying an additional 19,180 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in Computer Sciences Corp. by 128.0% in the fourth quarter. Principal Financial Group Inc. now owns 442,420 shares of the company’s stock valued at $14,458,000 after buying an additional 248,409 shares during the last quarter.
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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