Do Hedge Funds and Insiders Love Computer Sciences Corporation (CSC)?

Is Computer Sciences Corporation (NYSE:CSC) worth your attention right now? Prominent investors are taking an optimistic view. The number of long hedge fund bets increased by seven recently. CSC was in 34 hedge funds’ portfolio at the end of September. There were 27 hedge funds in Insider Monkey’s database with CSC positions at the end of the previous quarter.

Computer Sciences Corporation (NYSE:CSC)

Computer Sciences Corporation will open a new delivery center in the Strip District, one that could generate at least 500 jobs over the next three years, according to The Pittsburgh Post Gazette.

With all of this in mind, let’s take a gander at the key action regarding Computer Sciences Corporation (NYSE:CSC).

What does the smart money think about Computer Sciences Corporation (NYSE:CSC)?

In preparation for this quarter, a total of 34 of the hedge funds we track were bullish in this stock, a change of 26 percent from the second quarter. With hedgies’ positions undergoing their usual ebb and flow, there exists a select group of key hedge fund managers who were boosting their stakes meaningfully.

According to hedge fund experts at Insider Monkey, Larry Robbins’s Glenview Capital had the number one position in Computer Sciences Corporation (NYSE:CSC), worth close to $340 million, amounting to 2.9 percent of its total 13F portfolio. On Glenview Capital’s heels is David Einhorn of Greenlight Capital, with a $184 million position; the fund has 3.3 percent of its 13F portfolio invested in the stock. Other peers that hold long positions contain Cliff Asness’s AQR Capital Management, David Harding’s Winton Capital Management and Clint Carlson’s Carlson Capital.

As industrywide interest jumped, key hedge funds have jumped into Computer Sciences Corporation (NYSE:CSC) headfirst. Carlson Capital, managed by Clint Carlson, initiated the largest position in Computer Sciences Corporation (NYSE:CSC). Carlson Capital had 16.9 million invested in the company at the end of the quarter. David M. Markowitz’s Oskie Capital Management also initiated a $5.7 million position during the quarter. The other funds with brand new CSC positions are Daniel Arbess’s Perella Weinberg Partners, Jim Simons’s Renaissance Technologies, and Peter Muller’s PDT Partners.

How have insiders been trading Computer Sciences Corporation (NYSE:CSC)?

Insider purchases made by high-level executives is best served when the primary stock in question has experienced transactions within the past 180 days. Over the latest six-month time frame, Computer Sciences Corporation (NYSE:CSC) has experienced zero unique insiders buying, and two insider sales (see the details of insider trades here).

Let’s go over hedge fund and insider activity in other stocks similar to Computer Sciences Corporation (NYSE:CSC). These stocks are NCR Corporation (NYSE:NCR), ServiceNow Inc (NYSE:NOW), Xerox Corporation (NYSE:XRX), Gartner Inc (NYSE:IT), and Rackspace Hosting, Inc. (NYSE:RAX). This group of stocks belong to the information technology services industry and their market caps match CSC’s market cap.

Company Name # of Hedge Funds # of Insiders Buying # of Insiders Selling
NCR Corporation (NYSE:NCR) 32 0 4
ServiceNow Inc (NYSE:NOW) 23 0 9
Xerox Corporation (NYSE:XRX) 34 0 5
Gartner Inc (NYSE:IT) 14 0 7
Rackspace Hosting, Inc. (NYSE:RAX) 25 0 8

34 hedge funds in Insider Monkey’s database are long Computer Sciences Corporation, making it, along with Xerox Corporation, the most widely held IT services industry equity among the funds.


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