Foster & Motley Inc. lowered its position in shares of Perspecta Inc (NASDAQ:PRSP) by 18.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,983 shares of the company’s stock after selling 2,540 shares during the quarter. Foster & Motley Inc.’s holdings in Perspecta were worth $255,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. HM Payson & Co. grew its holdings in Perspecta by 320.8% during the fourth quarter. HM Payson & Co. now owns 993 shares of the company’s stock valued at $26,000 after purchasing an additional 757 shares during the period. Marshall Wace LLP acquired a new position in Perspecta during the fourth quarter valued at approximately $59,000. Point72 Hong Kong Ltd acquired a new position in Perspecta during the fourth quarter valued at approximately $78,000. Sunbelt Securities Inc. acquired a new position in Perspecta during the fourth quarter valued at approximately $21,469,000. Finally, FDx Advisors Inc. acquired a new position in shares of Perspecta in the first quarter valued at approximately $247,000.
In other news, Director Philip O. Nolan purchased 4,585 shares of the company’s stock in a transaction on Monday, July 13th. The shares were purchased at an average cost of $21.97 per share, with a total value of $100,732.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO John M. Curtis purchased 18,354 shares of the company’s stock in a transaction on Wednesday, July 15th. The shares were purchased at an average cost of $21.97 per share, for a total transaction of $403,237.38. The disclosure for this purchase can be found here. Insiders have acquired 27,507 shares of company stock worth $601,131 over the last ninety days.
PRSP has been the subject of several research analyst reports. Cowen initiated coverage on shares of Perspecta in a report on Friday, June 12th. They issued a “hold” rating and a $26.00 price target for the company. Wells Fargo & Co upped their price target on shares of Perspecta from $21.00 to $24.00 and gave the company an “equal weight” rating in a report on Friday, May 22nd. BidaskClub upgraded shares of Perspecta from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. William Blair initiated coverage on shares of Perspecta in a report on Monday, March 30th. They issued a “market perform” rating for the company. Finally, Morgan Stanley upped their price target on shares of Perspecta from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Wednesday, June 24th. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $25.00.
Shares of PRSP stock opened at $22.32 on Thursday. The company’s fifty day simple moving average is $23.16 and its 200-day simple moving average is $22.93. Perspecta Inc has a 12 month low of $14.03 and a 12 month high of $29.88.
Perspecta (NASDAQ:PRSP) last announced its quarterly earnings data on Thursday, May 21st. The company reported $0.55 EPS for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.02. The business had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.07 billion. The business’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Thursday, June 11th were given a dividend of $0.07 per share. This is a positive change from Perspecta’s previous quarterly dividend of $0.06. This represents a $0.28 annualized dividend and a yield of 1.25%. The ex-dividend date was Wednesday, June 10th.
Perspecta Inc provides enterprise information technology (IT) services to government customers in the United States federal, state, and local markets. The company develops, modernizes, transforms, and manages customers' enterprise application portfolios enabling a shift of IT spend from maintenance and operations to innovation; and offers analytics and data services, as well as research, engineering, consulting, and technology solutions for government, including cybersecurity, cloud, quantum computing, network configuration, and data analytics capabilities.
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