JANA Partners Increases Computer Sciences Stake ~ market folly

Monday, March 2, 2015

JANA Partners Increases Computer Sciences Stake

Barry Rosenstein's activist hedge fund JANA Partners has filed a 13D on shares of Computer Sciences (CSC).  Per the filing, JANA now owns 5.9% of the company with 8.37 million shares.

JANA has increased its position size by over 5.6 million shares since the end of 2014.  The filing was made due to activity on February 11th.

The filing also notes that JANA has talked with the company about its strategic alternatives.  Over the past six months, various media outlets have suggested the company could be in talks to sell itself to either private equity and/or a foreign company.

We've detailed additional recent portfolio activity from JANA Partners here.

Per Google Finance, Computer Sciences is "a provider of information technology (IT) and professional services and solutions. The Company’s clients include commercial enterprises and the United States federal government, as well as state, local and non-United States government agencies. It has operations throughout North America, Europe, Asia and Australia. The Company operates in three business segments: Global Business Services (GBS), Global Infrastructure Services (GIS), and North American Public Sector (NPS). GBS provides technology solutions including consulting, applications services, and software. GIS provides managed and virtual desktop solutions, unified communications and collaboration services, data center management, cyber security, compute and managed storage solutions. NPS delivers IT, mission, and operations-related services to the Department of Defense, civil agencies of the United States federal government, as well as other foreign, state and local government agencies."

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