Perspecta (PRSP) Sees Strong Trading Volume

Shares of Perspecta Inc (NASDAQ:PRSP) saw strong trading volume on Friday . 1,437,716 shares were traded during mid-day trading, an increase of 84% from the previous session’s volume of 781,285 shares.The stock last traded at $20.50 and had previously closed at $20.49.

PRSP has been the topic of several analyst reports. Loop Capital set a $19.00 target price on Perspecta and gave the company a “hold” rating in a research note on Wednesday, January 2nd. Cowen reissued a “buy” rating and issued a $28.00 target price on shares of Perspecta in a research note on Wednesday, February 13th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $26.40.

Perspecta (NASDAQ:PRSP) last released its earnings results on Wednesday, February 13th. The company reported $0.44 earnings per share for the quarter, meeting the consensus estimate of $0.44. The company had revenue of $1.08 billion during the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the company posted $0.42 EPS. The company’s quarterly revenue was up 48.9% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 16th. Shareholders of record on Wednesday, March 27th will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.98%. The ex-dividend date is Tuesday, March 26th.

A number of large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its holdings in shares of Perspecta by 7.4% during the fourth quarter. Geode Capital Management LLC now owns 1,514,764 shares of the company’s stock worth $26,084,000 after buying an additional 104,041 shares in the last quarter. Norges Bank bought a new position in shares of Perspecta during the fourth quarter worth about $35,504,000. Dimensional Fund Advisors LP grew its holdings in shares of Perspecta by 17.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,840,545 shares of the company’s stock worth $31,688,000 after buying an additional 270,254 shares in the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in shares of Perspecta during the fourth quarter worth about $62,000. Finally, Nordea Investment Management AB bought a new position in shares of Perspecta during the fourth quarter worth about $3,075,000.

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Perspecta Company Profile (NASDAQ:PRSP)

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Further Reading: Systematic Risk

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