Strs Ohio Decreases Stock Position in Perspecta Inc (NASDAQ:PRSP)

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Strs Ohio cut its holdings in Perspecta Inc (NASDAQ:PRSP) by 1.6% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 55,315 shares of the company’s stock after selling 900 shares during the quarter. Strs Ohio’s holdings in Perspecta were worth $1,284,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Marshall Wace LLP purchased a new stake in Perspecta in the fourth quarter valued at about $59,000. FDx Advisors Inc. purchased a new stake in Perspecta in the first quarter valued at about $247,000. Investment Counselors of Maryland LLC purchased a new stake in Perspecta in the first quarter valued at about $158,000. Alpha Windward LLC raised its stake 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 buying an additional 1,963 shares during the last quarter. Finally, Advisor Group Holdings Inc. purchased a new stake in Perspecta in the first quarter valued at about $104,000.

Perspecta stock opened at $21.40 on Friday. Perspecta Inc has a 52 week low of $14.03 and a 52 week high of $29.88. The business’s 50-day moving average price is $22.72 and its 200 day moving average price is $22.72.

Perspecta (NASDAQ:PRSP) last posted its earnings results on Thursday, May 21st. The company reported $0.55 EPS for the quarter, topping the consensus estimate of $0.53 by $0.02. The company had revenue of $1.10 billion for the quarter, compared to analyst estimates of $1.07 billion. The firm’s revenue was up .5% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share.

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Thursday, June 11th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a yield of 1.31%. This is a positive change from Perspecta’s previous quarterly dividend of $0.06. The ex-dividend date of this dividend was Wednesday, June 10th.

In other Perspecta news, Director Philip O. Nolan acquired 4,568 shares of the company’s stock in a transaction on Wednesday, May 13th. The shares were bought at an average cost of $21.27 per share, with a total value of $97,161.36. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John M. Curtis acquired 18,354 shares of the company’s stock in a transaction on Wednesday, July 15th. The stock was acquired 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. Over the last ninety days, insiders have purchased 27,507 shares of company stock worth $601,131.

A number of research firms have commented on PRSP. Morgan Stanley increased their price target on Perspecta from $21.00 to $23.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 24th. Zacks Investment Research raised Perspecta from a “sell” rating to a “hold” rating in a report on Thursday. BidaskClub raised Perspecta from a “strong sell” rating to a “sell” rating in a report on Saturday, July 18th. Cowen initiated coverage on Perspecta in a report on Friday, June 12th. They issued a “hold” rating and a $26.00 price objective on the stock. Finally, Wedbush lowered Perspecta from an “outperform” rating to a “neutral” rating in a report on Tuesday, June 9th. One investment analyst has rated the stock with a sell rating and six have given a hold rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $25.00.

Perspecta Profile

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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Institutional Ownership by Quarter for Perspecta (NASDAQ:PRSP)

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