Computer Sciences Corporation(CSC)- NYSE
  • Nov. 4, 2015, 4:23 PM
    • Computer Sciences (NYSE:CSC): FQ2 EPS of $1.26 beats by $0.12.
    • Revenue of $2.71B (-12.0% Y/Y) misses by $80M.
    | Nov. 4, 2015, 4:23 PM
  • Nov. 3, 2015, 5:35 PM
  • Oct. 5, 2015, 5:37 PM
    • Computer Sciences (NYSE:CSC) has entered into exclusive talks to buy UXC Limited (OTC:UXCLF), Australia's biggest independent/publicly-owned IT services firm, for A$428M ($300M).
    • The deal price is equal to A$1.26/share - $0.07 below where UXC closed today in Sydney, but well above where shares traded a few months ago. The deal is subject to a 5-week due diligence period, as well as board and regulatory approvals. If all goes well, CSC expects to close in Feb. 2016.
    • CSC has been in an M&A-hungry mood ahead of the planned split of its commercial IT services ops from its U.S. public sector ops (set for later this month). In August, the company announced the purchase of ServiceNow partner Fruition Partners and financial IT services firm Fixnetix, as well as a merger between its U.S. public sector unit and peer SRA.
    | Oct. 5, 2015, 5:37 PM
  • Aug. 31, 2015, 5:20 PM
    • Ahead of the spinoff of its U.S. public sector ops from its commercial IT services arm, Computer Sciences (NYSE:CSC) is merging the former with SRA, a fellow government IT services provider. SRA shareholders, which include P-E firm Providence Equity, will own 15.3% of the post-merger company, and receive a $390M cash payout.
    • The combined company had FY15 (ended in March) revenue of $5.5B - with CSC's public sector ops having posted revenue of $4.1B, that implies SRA revenue of $1.4B. Roughly 3/4 of the post-merger firm's revenue will come from "cybersecurity, software development, cloud and IT infrastructure."
    • CSC CEO Mike Lawrie will be the company's chairman, and public sector division chief Lawrence Prior its CEO. The merger is expected to close by the end of November, following the spinoff.
    • Separately, CSC announced today it won a contract with Microsoft and Amazon to consolidate the FAA's data centers and migrate the agency's data/systems to a hybrid cloud. The deal has an initial value of $108.9M, but could reach $1B over 10 years.
    | Aug. 31, 2015, 5:20 PM
  • Aug. 14, 2015, 4:52 PM
    • Computer Sciences (NYSE:CSC) declares $0.23/share quarterly dividend, in line with previous.
    • Forward yield 1.36%
    • Payable Oct. 8; for shareholders of record Sept. 4; ex-div Sept. 2.
    | Aug. 14, 2015, 4:52 PM
  • Aug. 11, 2015, 4:59 PM
    • Along with its FQ1 results, Computer Sciences (NYSE:CSC) announces it's buying Fruition Partners, the biggest management consulting firm exclusively handling deployments of cloud IT service management (ITSM) software leader ServiceNow's (NYSE:NOW) products, and Fixnetix, a provider of IT systems management services for financial industry trading desks. Terms for both deals are undisclosed.
    • ServiceNow has been seeing rapid growth as it grabs ITSM software share from on-premise software vendors. CSC notes Fruition is "the only ServiceNow Master Solutions Partner operating in both North America and Europe," and plans to sell its services via CSC's 1,000-person salesforce.
    • Regarding Fixnetix, CSC states the company "will be a key component to the implementation of our infrastructure strategy and will advance CSC as a leader in providing managed services to capital markets firms throughout the world." Fixnetix is based in London, and also operates in NYC, Tokyo, Boston, and Chicago. Both purchases bolster CSC's commercial IT services ops before they're split from the company's U.S. public sector ops.
    • Following its FQ1 EPS beat and revenue miss, CSC is reiterating FY16 (ends March '16) guidance for EPS from continuing ops of $4.75-$5.05. Consensus is at $4.85.
    • Global Business Services revenue fell 7.5% Y/Y in FQ1 to $919M. Global Infrastructure Services fell 15.3% to $885M. North American fell 6% to $957M. Nonetheless, op. margin rose 140 bps Y/Y to 10.8%, and free cash flow by $50M to $120M. $118M was spent on buybacks.
    • CSC has risen to $67.00 in AH trading.
    • CSC's FQ1 results, PR
    | Aug. 11, 2015, 4:59 PM
  • Aug. 11, 2015, 4:18 PM
    • Computer Sciences (NYSE:CSC): FQ1 EPS of $1.11 beats by $0.10.
    • Revenue of $2.76B (-14.8% Y/Y) misses by $60M.
    | Aug. 11, 2015, 4:18 PM
  • Aug. 10, 2015, 5:35 PM
    | Aug. 10, 2015, 5:35 PM | 6 Comments
  • Aug. 7, 2015, 3:14 PM
    • A fan of Computer Sciences' (CSC +1.7%) planned breakup of its U.S. federal unit from its commercial IT unit, as well as the related $10.50/share special dividend, Citi's Ashwin Shrivaikar has upgraded shares to Buy, and hiked his target by $4 to $77.
    • Shrivaikar: "CSC has undergone a successful multi-year transformation that improved its cost structure and streamlined its businesses – this is the next logical value-creation step in the absence of meaningful top-line growth. But we believe the Street has largely ignored this opportunity ... We like that even the low end of the [peer] multiple range provides enough upside for our Buy [rating]."
    | Aug. 7, 2015, 3:14 PM
  • Jul. 29, 2015, 5:45 PM
    • Leidos Holdings (NYSE:LDOS) spiked to a 5% gain just minutes before the close, after the U.S. Defense Department said it chose a team led by the company to build a new electronic health record system for 9.6M current and retired military service members.
    • The contract has an initial value of up to $4.34B and runs for 10 years, the Pentagon says.
    • LDOS and Cerner (NASDAQ:CERN) beat out a team of IBM and Epic Systems, and another team that included Allscripts (NASDAQ:MDRX), Hewlett-Packard (NYSE:HPQ) and Computer Sciences Corp. (NYSE:CSC)
    | Jul. 29, 2015, 5:45 PM | 10 Comments
  • Jun. 4, 2015, 6:41 PM
    • Reuters reports government IT contractors CACI, Booz Allen (NYSE:BAH), and Leidos (NYSE:LDOS) have "held exploratory discussions" about buying Computer Sciences' (NYSE:CSC) U.S. public sector IT services unit, which is set to be split off from its commercial IT services unit.
    • The news service cautions discussions are in their early stages. Bloomberg reported earlier this afternoon HP was close to a deal to buy CSC last month before walking away.
    • CSC's public sector unit had FY15 (ended April 3) revenue of $4.06B (-1% Y/Y), and op. income of $591M.
    • CSC +0.4% AH to $68.00.
    | Jun. 4, 2015, 6:41 PM | 1 Comment
  • Jun. 4, 2015, 4:30 PM
    • HP (NYSE:HPQ) was "nearing a deal to acquire Computer Sciences Corp. (NYSE:CSC) last month until the talks broke down," Bloomberg reports. According to one source, HP "doesn’t intend to revisit" deal talks.
    • With a current market cap of $9.7B (an M&A premium could have pushed its valuation above $11B), CSC would at least have been HP's biggest acquisition since the ill-fated 2011 Autonomy purchase. CSC, which has reportedly tried to sell itself in prior years as well, is 2 weeks removed from announcing it's breaking up into a commercial IT services firm and a U.S. public sector services firm.
    • HP, whose own breakup takes effect in 5 months, has suggested its enterprise ops (to be known as Hewlett-Packard Enterprise post-breakup) could make big purchases - the company recently closed a $3B deal to buy Wi-Fi hardware/software vendor Aruba Networks. Raymond James speculated today HP will buy EMC (current market cap of $52.4B), in part to get hold of VMware (NYSE:VMW).
    • Separately, HP says it will show off a prototype of its cutting-edge Machine computer architecture next year; the system will pack 2,500 CPU cores and 320TB of DRAM within a single server rack. By 2020, HP wants to offer Machine servers relying on Memristors, a next-gen memory format that would replace both DRAM and hard drives/NAND flash.
    | Jun. 4, 2015, 4:30 PM | 12 Comments
  • May 27, 2015, 12:28 PM
    • Believing the company's planned breakup can drive shares above $80, Wells Fargo has upgraded Computer Sciences (CSC +2.4%) to Outperform.
    • CSC briefly rallied last week after announcing plans to split its commercial IT services and U.S. public sector ops, and providing strong FY16 guidance. JPMorgan and Morgan Stanley upgraded afterwards.
    | May 27, 2015, 12:28 PM | 2 Comments
  • May 19, 2015, 4:46 PM
    • Confirming last week's Reuters report, Computer Sciences (NYSE:CSC) announces (in tandem with its FQ4 report) it plans to split its commercial IT services and U.S. public sector ops into separate, publicly-traded, companies. The former had FY15 revenue of $8.1B, and the latter revenue of $4.1B.
    • The split, like CSC's $10.50/share special dividend, is expected to occur by the end of October.
    • CSC is guiding for FY16 (ends March '15) EPS from continuing ops of $4.75-$5.05, favorable to a $4.80 consensus at a $4.90 midpoint.
    • FQ4 revenue fell 12.6% Y/Y in actual dollars, and 8% in constant currency. Global business solutions revenue -14.9% Y/Y to $980M; global infrastructure services -20.8% to $929M; North American public sector -0.4% to $1B.
    • $224M was spent to buy back 3.2M shares in FQ4. FY15 free cash flow totaled $717M, +4% Y/Y.
    • CSC has risen to $71.00 AH.
    • FQ4 results, PR
    | May 19, 2015, 4:46 PM
  • May 19, 2015, 4:27 PM
    • Computer Sciences (NYSE:CSC) declares $10.50/share special dividend.
    • Payable by Oct. 2015.
    | May 19, 2015, 4:27 PM
  • May 19, 2015, 4:26 PM
    • Computer Sciences (NYSE:CSC) declares $0.23/share quarterly dividend, in line with previous.
    • Forward yield 1.36%
    • Payable July 9; for shareholders of record June 12; ex-div June 10.
    | May 19, 2015, 4:26 PM
Company Description
Computer Sciences Corp. provides information technology solutions. It operates through three business segments: Global Business Services, Global Infrastructure Services and North American Public Sector. The Global Business Services segment provides technology solutions including consulting,... More
Sector: Technology
Industry: Information Technology Services
Country: United States