Zacks Investment Research upgraded shares of Perspecta (NASDAQ:PRSP) from a hold rating to a buy rating in a research report released on Tuesday morning, Zacks.com reports. The brokerage currently has $27.00 price objective on the stock.
According to Zacks, “Perspecta delivers IT services and business solutions to all levels of government in the United States. Their enterprise-based offerings and solutions for U.S. government customers include: Cloud, Platform and IT Outsourcing Services, Enterprise and Cloud Applications, Enterprise Security, Mobility and Workplace, and Analytics. They have existing contracts with a range of public sector entities ranging from the U.S. Department of Veteran Affairs and the U.S. Department of Defense, to the United States Postal Service, the U.S. National Aeronautics and Space Administration, the U.S. Food and Drug Administration and large state and local government customers such as the county of San Diego, California. “
Other analysts have also issued reports about the company. Morgan Stanley set a $21.00 target price on Perspecta and gave the stock a sell rating in a report on Monday, June 17th. Goldman Sachs Group started coverage on Perspecta in a report on Thursday, May 9th. They issued a sell rating and a $21.00 price objective on the stock. Cowen lowered Perspecta from an outperform rating to a market perform rating and dropped their price objective for the company from $28.00 to $26.00 in a report on Monday, June 10th. Finally, Loop Capital raised their price objective on Perspecta to $22.00 and gave the company a hold rating in a report on Friday, June 7th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $25.33.
Perspecta (NASDAQ:PRSP) last posted its earnings results on Wednesday, August 14th. The company reported $0.52 EPS for the quarter, topping the consensus estimate of $0.50 by $0.02. The company had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.08 billion. The firm’s revenue was up 47.5% on a year-over-year basis. During the same period last year, the business earned $0.54 earnings per share.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Wednesday, September 4th will be given a $0.06 dividend. The ex-dividend date is Tuesday, September 3rd. This represents a $0.24 annualized dividend and a dividend yield of 0.94%.
In other news, Director Philip O. Nolan bought 4,257 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $23.37 per share, for a total transaction of $99,486.09. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Philip O. Nolan bought 4,366 shares of the firm’s stock in a transaction dated Wednesday, July 3rd. The stock was purchased at an average price of $22.98 per share, for a total transaction of $100,330.68. The disclosure for this purchase can be found here. In the last 90 days, insiders bought 13,328 shares of company stock worth $300,927.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vaughan Nelson Investment Management L.P. lifted its position in shares of Perspecta by 10.5% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 2,633,910 shares of the company’s stock valued at $53,257,000 after acquiring an additional 250,266 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. lifted its position in Perspecta by 76.3% during the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 29,819 shares of the company’s stock worth $603,000 after buying an additional 12,910 shares in the last quarter. Advisory Services Network LLC lifted its position in Perspecta by 4,108.3% during the first quarter. Advisory Services Network LLC now owns 16,791 shares of the company’s stock worth $340,000 after buying an additional 16,392 shares in the last quarter. Mason Street Advisors LLC lifted its position in Perspecta by 0.9% during the first quarter. Mason Street Advisors LLC now owns 74,785 shares of the company’s stock worth $1,512,000 after buying an additional 698 shares in the last quarter. Finally, Raymond James & Associates lifted its position in Perspecta by 36.6% during the first quarter. Raymond James & Associates now owns 223,700 shares of the company’s stock worth $4,523,000 after buying an additional 59,888 shares in the last quarter.
Perspecta Company Profile
There is no company description available for Perspecta Inc
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