Perspecta Inc (PRSP) Stake Lessened by Corsair Capital Management L.P.

Corsair Capital Management L.P. trimmed its holdings in shares of Perspecta Inc (NASDAQ:PRSP) by 2.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 402,489 shares of the company’s stock after selling 10,597 shares during the period. Perspecta makes up about 2.4% of Corsair Capital Management L.P.’s holdings, making the stock its 19th biggest position. Corsair Capital Management L.P. owned approximately 0.24% of Perspecta worth $10,352,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of PRSP. Acadian Asset Management LLC purchased a new position in Perspecta in the third quarter valued at about $117,000. Global X Management Co LLC purchased a new position in Perspecta in the second quarter valued at about $105,000. Advisors Asset Management Inc. purchased a new position in Perspecta in the second quarter valued at about $107,000. Engineers Gate Manager LP purchased a new position in Perspecta in the third quarter valued at about $202,000. Finally, CIBC Asset Management Inc purchased a new position in Perspecta in the third quarter valued at about $205,000.

PRSP has been the topic of a number of recent research reports. Wells Fargo & Co upgraded Perspecta from a “market perform” rating to an “outperform” rating in a research note on Friday, September 14th. Zacks Investment Research upgraded Perspecta from a “hold” rating to a “buy” rating and set a $26.00 target price on the stock in a research note on Wednesday, August 22nd. Stifel Nicolaus initiated coverage on Perspecta in a research note on Tuesday, October 16th. They issued a “buy” rating and a $35.00 target price on the stock. Cowen restated a “buy” rating and issued a $30.00 target price on shares of Perspecta in a research note on Thursday, November 15th. Finally, Loop Capital initiated coverage on Perspecta in a research note on Thursday, August 9th. They issued a “hold” rating and a $23.00 target price on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Perspecta currently has an average rating of “Buy” and a consensus price target of $27.60.

Shares of NASDAQ PRSP opened at $20.11 on Friday. Perspecta Inc has a one year low of $19.60 and a one year high of $27.68.

Perspecta (NASDAQ:PRSP) last released its quarterly earnings results on Wednesday, November 14th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.02. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. The company’s revenue was up 51.3% on a year-over-year basis.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Wednesday, December 5th will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.99%.

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Perspecta Company Profile

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Further Reading: How is Preferred Stock Different from Common Stock?

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Institutional Ownership by Quarter for Perspecta (NASDAQ:PRSP)

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