Computer Sciences Corporation (NYSE:CSC) announced that Peter Rutland and Robert F. Woods have been elected to the company’s Board of Directors. The Company also announced the retirement from the Board of David Barram, who has served as a director since 2004.
“We are pleased to welcome Peter and Bob to the CSC board of directors,” said CSC Chairman Rodney F. Chase. “The exceptional depth of experience, industry knowledge and financial background that each brings to CSC will prove valuable to the company’s ongoing transformation and growth. And on behalf of my fellow directors, I want to express my sincere thanks and gratitude to our colleague David Barram for his outstanding service to the company and its shareholders.”
Rutland is a partner and global co-head of Financial Services at CVC Capital Partners Limited (CVC). Prior to joining CVC in 2007, he was a principal at Advent International and served in the investment banking division of Goldman Sachs. Currently, Rutland is a director of Avolon Holdings Limited (NYSE: AVOL). Rutland has a master’s of arts degree in economics and management from the University of Cambridge and a master’s degree in business administration from INSEAD.
ROBERT F. WOODS
Woods was senior vice president and chief financial officer at Sungard Data Systems Inc. from 2010 to 2012, and before that served as senior vice president and chief financial officer of IKON Office Solutions. Woods joined IBM Corporation in 1995 and served in a number of senior positions including Corporate Controller and Treasurer. Early in his career, Woods worked for Deloitte, Haskins & Sells, later specializing in tax, treasury, accounting and finance at DuPont. Mr. Woods became a Certified Public Accountant in 1979, holds a bachelor’s of science degree in accounting from Villanova University and a master’s business accounting degree from Widener University. (Original Source)
Shares of Computer Sciences closed today at $64.33, down $0.36 or -0.56%. CSC has a 1-year high of $73.29 and a 1-year low of $54.23. The stock’s 50-day moving average is $61.92 and its 200-day moving average is $64.87.
On the ratings front, Computer Sciences has been the subject of a number of recent research reports. In a report issued on September 1, BMO analyst Keith Bachman reiterated a Hold rating on CSC, with a price target of $72, which implies an upside of 11.9% from current levels. Separately, on the same day, Deutsche Bank’s Bryan Keane reiterated a Hold rating on the stock and has a price target of $65.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Keith Bachman and Bryan Keane have a total average return of 20.4% and 15.1% respectively. Bachman has a success rate of 65.9% and is ranked #35 out of 3773 analysts, while Keane has a success rate of 79.2% and is ranked #114.
Overall, 3 research analysts have assigned a Hold rating and 2 research analysts have given a Buy rating to the stock. When considering if perhaps the stock is under or overvalued, the average price target is $70.50 which is 9.6% above where the stock opened today.
Computer Sciences Corp provides information technology (IT) and professional services and solutions. The Company’s reportable segments are Global Business Services (GBS), Global Infrastructure Services (GIS), and North American Public Sector (NPS).