Retirement Systems of Alabama Sells 1,038 Shares of Perspecta Inc (NASDAQ:PRSP)

Retirement Systems of Alabama reduced its holdings in Perspecta Inc (NASDAQ:PRSP) by 0.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 182,034 shares of the company’s stock after selling 1,038 shares during the quarter. Retirement Systems of Alabama’s holdings in Perspecta were worth $4,261,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in PRSP. Amundi Pioneer Asset Management Inc. increased its stake in Perspecta by 43.5% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 324,308 shares of the company’s stock worth $6,558,000 after acquiring an additional 98,266 shares during the period. FMR LLC raised its holdings in Perspecta by 22.6% in the 1st quarter. FMR LLC now owns 433,945 shares of the company’s stock valued at $8,774,000 after acquiring an additional 79,853 shares in the last quarter. Nordea Investment Management AB raised its holdings in Perspecta by 119.4% in the 1st quarter. Nordea Investment Management AB now owns 391,833 shares of the company’s stock valued at $7,924,000 after acquiring an additional 213,233 shares in the last quarter. Advisory Services Network LLC raised its holdings in Perspecta by 4,108.3% in the 1st quarter. Advisory Services Network LLC now owns 16,791 shares of the company’s stock valued at $340,000 after acquiring an additional 16,392 shares in the last quarter. Finally, Weitz Investment Management Inc. raised its holdings in Perspecta by 10.4% in the 1st quarter. Weitz Investment Management Inc. now owns 530,000 shares of the company’s stock valued at $10,717,000 after acquiring an additional 50,000 shares in the last quarter.

NASDAQ PRSP traded up $0.30 during midday trading on Wednesday, hitting $23.92. The company had a trading volume of 5,927 shares, compared to its average volume of 797,516. The business has a 50-day moving average of $23.55. Perspecta Inc has a twelve month low of $15.74 and a twelve month high of $26.64.

Perspecta (NASDAQ:PRSP) last announced its quarterly earnings data on Thursday, June 6th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.48 by $0.06. The company had revenue of $1.09 billion during the quarter, compared to analyst estimates of $1.08 billion. Perspecta’s revenue was up 53.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.47 earnings per share.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 16th. Stockholders of record on Wednesday, June 5th were issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Tuesday, June 4th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.00%. This is a boost from Perspecta’s previous quarterly dividend of $0.05.

In other Perspecta news, Director Philip O. Nolan purchased 4,705 shares of the stock in a transaction dated Tuesday, June 4th. The stock was bought at an average price of $21.49 per share, with a total value of $101,110.45. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Philip O. Nolan purchased 4,366 shares of the stock in a transaction dated Wednesday, July 3rd. The shares were acquired at an average cost of $22.98 per share, with a total value of $100,330.68. The disclosure for this purchase can be found here. Insiders have bought a total of 13,470 shares of company stock valued at $302,310 in the last three months.

Several equities analysts have weighed in on the company. Cowen reaffirmed a “buy” rating on shares of Aptinyx in a report on Monday, June 10th. Goldman Sachs Group raised MICHELIN COMPAG/ADR from a “neutral” rating to a “buy” rating in a report on Thursday, May 9th. Loop Capital lifted their price objective on Perspecta to $22.00 and gave the company a “hold” rating in a report on Friday, June 7th. Zacks Investment Research reaffirmed a “hold” rating on shares of Western New England Bancorp in a report on Saturday, June 29th. Finally, Morgan Stanley assumed coverage on in a report on Monday, June 17th. They issued an “equal weight” rating and a GBX 215 ($2.81) price objective for the company. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $25.17.

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Institutional Ownership by Quarter for Perspecta (NASDAQ:PRSP)

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