Barclays Lowers Computer Sciences Co. (CSC) to Equal Weight

Barclays cut shares of Computer Sciences Co. (NYSE:CSC) from an overweight rating to an equal weight rating in a research note released on Tuesday morning, The Fly ^[1] reports. Barclays currently has $35.00 price target on the stock, down from their prior price target of $76.00.

Shares of Computer Sciences (NYSE:CSC ^[2]) opened at 29.6358 on Tuesday. Computer Sciences has a 1-year low of $24.77 and a 1-year high of $33.66. The stock's 50 day moving average price is $31.01 and its 200-day moving average price is $28.19. The stock has a market capitalization of $4.11 billion and a P/E ratio of 194.9724.

Computer Sciences (NYSE:CSC) last released its quarterly earnings data on Wednesday, November 4th. The company reported $1.19 EPS for the quarter, beating analysts' consensus estimates 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 company's revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.18 EPS. Equities research analysts anticipate that Computer Sciences will post $2.58 EPS for the current fiscal year.

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

Other research analysts have also recently issued reports about the company. Cantor Fitzgerald assumed coverage on Computer Sciences in a research note on Friday, October 16th. They issued a hold rating and a $64.00 target price for the company. Zacks Investment Research ^[3] cut Computer Sciences from a buy rating to a hold rating in a research note on Tuesday, October 13th. RBC Capital decreased their target price on Computer Sciences from $68.00 to $67.00 and set a sector perform rating for the company in a research note on Monday, November 2nd. SunTrust cut Computer Sciences from a buy rating to a neutral rating and decreased their target price for the company from $78.00 to $34.00 in a research note on Tuesday, December 1st. F inally, TheStreet raised Computer Sciences from a hold rating to a buy rating in a research note on Friday, October 23rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. Computer Sciences presently has an average rating of Hold and a consensus target price of $58.86.

In other Computer Sciences news, CEO John M. Lawrie sold 16,771 shares of the business's stock in a transaction on Thursday, December 3rd. The shares were sold at an average price of $30.78, for a total transaction of $516,211.38. Following the sale, the chief executive officer now owns 351,264 shares of the company's stock, valued at approximately $10,811,905.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink ^[4]. Also, CFO Paul N. Saleh sold 198,109 shares of the business's stock in a transaction on Wednesday, November 4th. The shares were sold at an average price of $6 8.00, for a total transaction of $13,471,412.00. Following the sale, the chief financial officer now directly owns 42,472 shares in the company, valued at approximately $2,888,096. The disclosure for this sale can be found here ^[5].

Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. Janus Capital Management boosted its position in Computer Sciences by 90.4% in the third quarter. Janus Capital Management now owns 18,406 shares of the company's stock valued at $1,130,000 after buying an additional 8,740 shares during the last quarter. TrimTabs Asset Management purchased a new position in Computer Sciences during the third quarter valued at $2,122,000. Northcoast Asset Management boosted its position in Computer Sciences by 7.1% in the third quarter. Northcoast Asset Management now owns 58,542 shares of the company's stock valued at $3,593,000 after buying an additional 3,872 shares during the last quarter. Finally, Jennison Associates boosted its position in Computer Sciences by 169.6% in the third quarter. Jennison Associates now owns 2,445,912 shares of the company's stock valued at $150,130,000 after buying an additional 1,538,632 shares during the last quarter.

Computer Sciences Corporation (NYSE:CSC ^[6]) 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 o ther 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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