Computer Sciences Corp (CSC): Billionaire Larry Robbins’ Glenview Capital Adds 500,000 Shares

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Billionaire Larry Robbins Glenview Capital recently filed a Form 13G with the Securities and Exchange Commission, in which it reported holding 7.38 million shares of Computer Sciences Corp (NYSE:CSC), which amass 5.26% of the company’s outstanding stock. This indicates an increase of 500,000 shares to the fund’s stake, as it previously owned 6.88 million shares of the company on June 30 according to its latest 13F filing.

Computer Sciences Corporation is a company that provides professional IT services and operates in two sectors: Global Infrastructure Services and Global Business Services. Year-to-date, the company’s stock is up by 50.18%. For the first quarter of its fiscal year 2017, Computer Sciences Corporation reported a diluted loss per share from continuing operations of $0.15 and commercial operating income of $161 million, compared to earnings per share of $0.46 and commercial operating income of $136 million for the same quarter of its previous fiscal year. Recently, BMO Capital Markets reiterated its ‘Buy’ rating on Computer Sciences Corporation’s stock, with a price target of $57 on it, while Jefferies Group also reiterated its ‘Buy’ rating along with a price target of $63. On the other hand, Morgan Stanley lowered its price target on the stock to $53 from $55 and has an ‘Equal Weight’ rating on it.


According to Insider Monkey’s hedge fund database, the number of investors long Computer Sciences Corp (NYSE:CSC) increased by six during the second quarter, rising to 31 smart money managers bullish on the stock as of the end of June. Among them were Barry Rosenstein’s JANA Partners, with a position valued at $153.25 million, Ken Griffin’s Citadel Investment Group, which held a position worth around $101.8 million, David Harding’s Winton Capital Management, Anand Parekh’s Alyeska Investment Group, and Jim Simons’ Renaissance Technologies.

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Some of the new investors of Computer Sciences Corp (NYSE:CSC) during the second quarter include Richard McGuire’s Marcato Capital Management, which acquired a position worth $66.89 million, Richard Barrera’s Roystone Capital Partners, which had $45.16 million invested in the company, Andrew Immerman and Jeremy Schiffman’s Palestra Capital Management, and Michael Blitzer’s Kingstown Capital Management.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
GLENVIEW CAPITAL MANAGEMENT 0 7,382,451 0 7,382,451 7,382,451 5.26%
LARRY ROBBINS 0 7,382,451 0 7,382,451 7,382,451 5.26%

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Page 1 of 9 – SEC Filing

Washington, D.C.  20549

Under the Securities Exchange Act of 1934
(Amendment No.  )*
 (Name of Issuer)
Common Stock, $1.00 par value
 (Title of Class of Securities)
 (CUSIP Number)
August 23, 2016
 (Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[    ]            Rule 13d-1(b)
[ X ]            Rule 13d-1(c)
[    ]            Rule 13d-1(d)
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
Continued on following pages
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Exhibit Index: Page 7

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