Public Employees Retirement System of Ohio reduced its holdings in shares of Perspecta Inc (NASDAQ:PRSP) by 9.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 263,560 shares of the company’s stock after selling 26,700 shares during the quarter. Public Employees Retirement System of Ohio owned 0.16% of Perspecta worth $6,122,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. FDx Advisors Inc. acquired a new stake in Perspecta during the 1st quarter valued at $247,000. Investment Counselors of Maryland LLC purchased a new position in Perspecta in the first quarter valued at about $158,000. Alpha Windward LLC boosted its holdings in Perspecta by 28.9% in the second quarter. Alpha Windward LLC now owns 8,767 shares of the company’s stock valued at $204,000 after purchasing an additional 1,963 shares during the last quarter. Magnus Financial Group LLC purchased a new stake in Perspecta during the 2nd quarter worth approximately $221,000. Finally, Profund Advisors LLC acquired a new position in shares of Perspecta in the 2nd quarter valued at approximately $223,000.
A number of analysts recently issued reports on the stock. Zacks Investment Research lowered shares of Perspecta from a “hold” rating to a “sell” rating in a research note on Wednesday. Wedbush lowered shares of Perspecta from an “outperform” rating to a “neutral” rating in a research note on Tuesday, June 9th. Wells Fargo & Company lifted their price target on Perspecta from $21.00 to $24.00 and gave the stock an “equal weight” rating in a research note on Friday, May 22nd. Morgan Stanley upped their price objective on Perspecta from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Finally, BidaskClub downgraded Perspecta from a “sell” rating to a “strong sell” rating in a report on Tuesday, August 4th. Two investment analysts have rated the stock with a sell rating and five have issued a hold rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $24.33.
Shares of PRSP stock traded up $0.11 during trading hours on Wednesday, reaching $20.34. 665 shares of the company were exchanged, compared to its average volume of 1,144,222. Perspecta Inc has a fifty-two week low of $14.03 and a fifty-two week high of $29.88. The stock’s fifty day moving average is $21.07 and its two-hundred day moving average is $21.45.
Perspecta (NASDAQ:PRSP) last posted its quarterly earnings data on Thursday, August 6th. The company reported $0.43 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.43. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. The firm’s quarterly revenue was up .1% compared to the same quarter last year. During the same period in the prior year, the company posted $0.52 EPS.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, August 26th will be given a $0.07 dividend. The ex-dividend date is Tuesday, August 25th. This represents a $0.28 dividend on an annualized basis and a yield of 1.38%.
In related news, Director Philip O. Nolan bought 4,585 shares of Perspecta stock in a transaction on Monday, July 13th. The shares were purchased at an average price of $21.97 per share, for a total transaction of $100,732.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John M. Curtis bought 18,354 shares of the firm’s stock in a transaction dated Wednesday, July 15th. The shares were bought at an average price of $21.97 per share, with a total value of $403,237.38. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 25,439 shares of company stock worth $553,795.
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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