Perspecta (NYSE:PRSP) Sees Unusually-High Trading Volume

Shares of Perspecta Inc. (NYSE:PRSP) saw strong trading volume on Tuesday . 261,455 shares changed hands during mid-day trading, a decline of 88% from the previous session’s volume of 2,273,270 shares.The stock last traded at $29.15 and had previously closed at $29.16.

Several research analysts have recently issued reports on the stock. Zacks Investment Research downgraded shares of Perspecta from a “hold” rating to a “sell” rating in a research note on Saturday, April 3rd. Morgan Stanley upped their target price on shares of Perspecta from $25.00 to $29.35 and gave the stock an “equal weight” rating in a research note on Thursday, January 28th. Finally, Stifel Nicolaus downgraded shares of Perspecta from a “buy” rating to a “hold” rating in a research report on Monday, February 8th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and an average price target of $27.84.

The stock’s 50 day moving average price is $29.04 and its 200-day moving average price is $25.60. The company has a quick ratio of 0.83, a current ratio of 0.83 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $4.70 billion, a PE ratio of -6.51 and a beta of 1.46.

Perspecta (NYSE:PRSP) last issued its earnings results on Friday, February 5th. The company reported $0.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.04. Perspecta had a negative net margin of 16.16% and a positive return on equity of 23.57%. The firm had revenue of $1.13 billion during the quarter, compared to analyst estimates of $1.08 billion. On average, analysts forecast that Perspecta Inc. will post 1.88 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 15th. Investors of record on Wednesday, March 3rd will be given a dividend of $0.07 per share. The ex-dividend date is Tuesday, March 2nd. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.96%. Perspecta’s dividend payout ratio is 13.66%.

Large investors have recently modified their holdings of the stock. Donoghue Forlines LLC bought a new position in shares of Perspecta during the fourth quarter worth $206,000. Fox Run Management L.L.C. bought a new position in Perspecta during the fourth quarter valued at $237,000. One68 Global Capital LLC bought a new position in Perspecta during the fourth quarter valued at $267,000. Profund Advisors LLC lifted its position in Perspecta by 43.6% during the third quarter. Profund Advisors LLC now owns 13,764 shares of the company’s stock valued at $268,000 after purchasing an additional 4,178 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its position in Perspecta by 4.3% during the fourth quarter. Wedge Capital Management L L P NC now owns 11,937 shares of the company’s stock valued at $287,000 after purchasing an additional 493 shares during the last quarter. Hedge funds and other institutional investors own 76.21% of the company’s stock.

Perspecta Company Profile (NYSE:PRSP)

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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