Computer Sciences Corporation (CSC) Announces Spin-Off and Major Dividend


The stock is up 7.78% or $2.25 hitting $31.16 (post breakup), because of this news. About 119,844 shares traded hands. CSC has risen 5.46% since April 27, 2015 and is uptrending. It has outperformed by 6.35% the S&P500.

Out of 7 analysts covering Computer Sciences Corporation (NYSE:CSC), 4 rate it “Buy”, 0 “Sell”, while 3 “Hold”. This means 57% are positive. $77 is the highest target while $37 is the lowest. The $63.60 average target is 104.11% above today’s ($31.16) stock price. Computer Sciences Corporation was the topic in 11 analyst reports since August 4, 2015 according to StockzIntelligence Inc. Cowen & Co initiated the stock on November 20 with “Outperform” rating. Citigroup upgraded it to “Buy” rating and $77 target price in an August 7 report. Cantor Fitzgerald initiated the shares of CSC in a report on October 16 with “Hold” rating. Finally, Deutsche Bank maintained the stock with “Hold” rating in a September 1 report.

The institutional sentiment decreased to 0.68 in Q2 2015. Its down 0.15, from 0.83 in 2015Q1. The ratio worsened, as 52 funds sold all Computer Sciences Corporation shares owned while 171 reduced positions. 38 funds bought stakes while 113 increased positions. They now own 128.43 million shares or 0.45% more from 127.85 million shares in 2015Q1.

Isf Management Llc holds 9.43% of its portfolio in Computer Sciences Corporation for 122,857 shares. Sandell Investment Services Llc owns 55,200 shares or 3.94% of their US portfolio. Moreover, Jana Partners Llc has 3.14% invested in the company for 8.04 million shares. The Connecticut-based Blue Harbour Group L.P. has invested 3.07% in the stock. Ci Global Investments Inc., a Ontario – Canada-based fund reported 2.26 million shares.

Since March 11, 2015, the stock had 0 insider purchases, and 4 sales for $746,052 net activity. Lawrie John M sold 601 shares worth $39,084. Deckelman William L Jr sold 2,592 shares worth $176,741. Zolet David W sold 3,814 shares worth $260,527.

Computer Sciences Corporation is a global well-known provider of information technology (IT) and professional services and solutions. The company has a market cap of $4.32 billion. The Firm operates through three divisions: Global Business Services (GBS), which is a well-known 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. It has 201.77 P/E ratio. The Company’s subsidiary, ServiceMesh Inc. (ServiceMesh), is a well-known provider of enterprise cloud management software.