Weiss Asset Management LP Invests $235,000 in Computer Sciences Corporation (CSC)

Weiss Asset Management LP Invests $235,000 in Computer Sciences Corporation (CSC)

Weiss Asset Management LP acquired a new position in shares of Computer Sciences Corporation (NYSE:CSC) during the third quarter, Holdings Channel reports. The fund acquired 4,496 shares of the company’s stock, valued at approximately $235,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Dynamic Capital Management Ltd purchased a new position in shares of Computer Sciences Corporation during the third quarter worth about $1,551,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Computer Sciences Corporation by 220.1% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 13,150 shares of the company’s stock valued at $687,000 after buying an additional 9,042 shares during the period. Brenner West Capital Advisors LLC bought a new position in Computer Sciences Corporation during the third quarter valued at $69,263,000. Palestra Capital Management LLC boosted its position in Computer Sciences Corporation by 30.6% in the third quarter. Palestra Capital Management LLC now owns 1,083,624 shares of the company’s stock valued at $56,576,000 after buying an additional 253,624 shares during the period. Finally, Jana Partners LLC boosted its position in Computer Sciences Corporation by 52.7% in the third quarter. Jana Partners LLC now owns 4,712,751 shares of the company’s stock valued at $246,053,000 after buying an additional 1,626,154 shares during the period. Hedge funds and other institutional investors own 96.88% of the company’s stock.

Shares of Computer Sciences Corporation (NYSE:CSC) opened at 71.00 on Friday. Computer Sciences Corporation has a 52-week low of $26.91 and a 52-week high of $71.79. The firm’s 50-day moving average is $62.30 and its 200 day moving average is $55.35. The company’s market capitalization is $10.01 billion.

Computer Sciences Corporation (NYSE:CSC) last announced its quarterly earnings data on Thursday, February 2nd. The company reported $0.81 EPS for the quarter, topping the consensus estimate of $0.70 by $0.11. The company earned $1.92 billion during the quarter, compared to the consensus estimate of $1.89 billion. Computer Sciences Corporation had a negative net margin of 1.34% and a positive return on equity of 17.45%. The company’s quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.71 EPS. On average, equities research analysts anticipate that Computer Sciences Corporation will post $2.79 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 25th. Stockholders of record on Wednesday, January 4th were given a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a dividend yield of 0.79%. The ex-dividend date was Friday, December 30th. Computer Sciences Corporation’s dividend payout ratio (DPR) is -74.67%.

CSC has been the subject of several research analyst reports. Citigroup Inc. upgraded shares of Computer Sciences Corporation from a “neutral” rating to a “buy” rating and set a $61.00 price target for the company in a report on Thursday, October 13th. Jefferies Group LLC reiterated a “buy” rating on shares of Computer Sciences Corporation in a report on Monday, December 5th. BMO Capital Markets reiterated a “buy” rating on shares of Computer Sciences Corporation in a report on Friday, November 4th. Barclays PLC reiterated a “buy” rating and issued a $68.00 price target on shares of Computer Sciences Corporation in a report on Wednesday, November 16th. Finally, Stifel Nicolaus upped their price target on shares of Computer Sciences Corporation from $57.00 to $66.00 and gave the company a “hold” rating in a report on Thursday, January 26th. Twelve equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Computer Sciences Corporation presently has an average rating of “Hold” and a consensus target price of $56.31.

In other news, Chairman John M. Lawrie sold 3,699 shares of the firm’s stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $60.24, for a total transaction of $222,827.76. Following the completion of the sale, the chairman now owns 386,329 shares of the company’s stock, valued at approximately $23,272,458.96. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman John M. Lawrie sold 6,100 shares of the firm’s stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $61.98, for a total transaction of $378,078.00. Following the sale, the chairman now directly owns 386,329 shares of the company’s stock, valued at approximately $23,944,671.42. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,616 shares of company stock valued at $2,283,942. Insiders own 1.53% of the company’s stock.

About Computer Sciences Corporation

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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