Computer Sciences Co. (CSC) Hits New 1-Year Low at $29.47

Shares of Computer Sciences Co. (NYSE:CSC) hit a new 52-week low during mid-day trading on Friday , MarketBeat reports. The company traded as low as $29.47 and last traded at $29.50, with a volume of 2,018,037 shares. The stock had previously closed at $30.32.

CSC has been the subject of a number of research reports. TheStreet cut Computer Sciences from a “buy” rating to a “hold” rating in a report on Friday, September 18th. Zacks Investment Research upgraded Computer Sciences from a “hold” rating to a “buy” rating and set a $67.00 target price for the company in a report on Tuesday, September 29th. Cantor Fitzgerald initiated coverage on Computer Sciences in a report on Friday, October 16th. They set a “hold” rating and a $64.00 target price for the company. Barclays decreased their target price on Computer Sciences from $67.00 to $64.00 and set an “equal weight” rating for the company in a report on Monday, November 2nd. Finally, BMO Capital Markets decreased their price target on Computer Sciences from $65.00 to $63.00 and set a “market perform” rating for the company in a report on Monday, November 2nd. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Computer Sciences presently has an average rating of “Hold” and an average target price of $58.86.

The company’s 50-day moving average is $31.01 and its 200-day moving average is $28.19. The firm has a market capitalization of $4.09 billion and a P/E ratio of 194.08.

Computer Sciences (NYSE:CSC) last issued its quarterly earnings data on Wednesday, November 4th. The company reported $1.19 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.05. The company earned $2.71 billion during the quarter, compared to the consensus estimate of $2.79 billion. The firm’s revenue was down 11.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.18 earnings per share. On average, equities analysts anticipate that Computer Sciences Co. will post $2.58 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 26th. Investors of record on Tuesday, January 5th will be paid a $0.14 dividend. This is a boost from Computer Sciences’s previous quarterly dividend of $0.13. This represents a $0.56 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Thursday, December 31st.

In other Computer Sciences news, CFO Paul N. Saleh sold 198,109 shares of Computer Sciences stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $68.00, for a total value of $13,471,412.00. Following the completion of the transaction, the chief financial officer now owns 42,472 shares in the company, valued at approximately $2,888,096. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John M. Lawrie sold 16,771 shares of Computer Sciences stock in a transaction on Thursday, December 3rd. The shares were sold at an average price of $30.78, for a total value of $516,211.38. Following the completion of the transaction, the chief executive officer now owns 351,264 shares of the company’s stock, valued at approximately $10,811,905.92. The disclosure for this sale can be found here.

Other large investors recently made changes to their positions in the company. Janus Capital Management boosted its stake in shares of Computer Sciences by 90.4% in the third quarter. Janus Capital Management now owns 18,406 shares of the company’s stock worth $1,130,000 after buying an additional 8,740 shares during the period. TrimTabs Asset Management bought a new stake in shares of Computer Sciences during the third quarter worth approximately $2,122,000. Northcoast Asset Management boosted its stake in shares of Computer Sciences by 7.1% in the third quarter. Northcoast Asset Management now owns 58,542 shares of the company’s stock worth $3,593,000 after buying an additional 3,872 shares during the period. Finally, Jennison Associates boosted its stake in shares of Computer Sciences by 169.6% in the third quarter. Jennison Associates now owns 2,445,912 shares of the company’s stock worth $150,130,000 after buying an additional 1,538,632 shares during the period.

Computer Sciences Corporation (NYSE: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. Its subsidiary, ServiceMesh Inc. (ServiceMesh), is a provider of enterprise cloud management software. ServiceMesh also provides various other services, such as tiered services levels, different levels of security, self-service options, governance, policy and real time monitoring. CSC’s subsidiary, Fruition Partners, provides technology-enabled solutions for the service-management sector and provides support for ServiceNow-related software

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