Perspecta (NASDAQ:PRSP) PT Raised to $22.00

Perspecta (NASDAQ:PRSP) had its price objective lifted by research analysts at Loop Capital to $22.00 in a report issued on Friday, June 7th, The Fly reports. The brokerage presently has a “hold” rating on the stock. Loop Capital’s price target suggests a potential downside of 5.78% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Goldman Sachs Group began coverage on Perspecta in a report on Thursday, May 9th. They set a “sell” rating and a $21.00 price target for the company. Morgan Stanley assumed coverage on Perspecta in a report on Monday, June 3rd. They set an “underweight” rating and a $20.00 price target for the company. Finally, Cowen reissued a “buy” rating and set a $28.00 target price on shares of Perspecta in a report on Wednesday, February 13th. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $25.17.

Perspecta stock traded down $0.06 during mid-day trading on Friday, hitting $23.35. 564,300 shares of the company’s stock traded hands, compared to its average volume of 833,146. The company has a 50 day moving average of $22.68. Perspecta has a fifty-two week low of $15.74 and a fifty-two week high of $26.64.

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

In other news, Director Philip O. Nolan bought 4,705 shares of the company’s 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 acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Philip O. Nolan bought 4,595 shares of the company’s stock in a transaction dated Thursday, April 4th. The shares were purchased at an average cost of $21.83 per share, with a total value of $100,308.85. The disclosure for this purchase can be found here. Insiders have bought 13,699 shares of company stock valued at $302,288 in the last three months.

Several hedge funds and other institutional investors have recently modified their holdings of PRSP. Quantamental Technologies LLC grew its position in Perspecta by 168.3% in the first quarter. Quantamental Technologies LLC now owns 1,610 shares of the company’s stock valued at $33,000 after acquiring an additional 1,010 shares during the last quarter. Captrust Financial Advisors grew its position in Perspecta by 64.6% in the fourth quarter. Captrust Financial Advisors now owns 1,728 shares of the company’s stock valued at $30,000 after acquiring an additional 678 shares during the last quarter. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund bought a new position in Perspecta in the fourth quarter valued at about $62,000. State of Alaska Department of Revenue bought a new position in Perspecta in the first quarter valued at about $95,000. Finally, Meeder Asset Management Inc. grew its position in Perspecta by 338.0% in the first quarter. Meeder Asset Management Inc. now owns 5,689 shares of the company’s stock valued at $115,000 after acquiring an additional 4,390 shares during the last quarter.

Perspecta Company Profile

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The Fly

Analyst Recommendations for Perspecta (NASDAQ:PRSP)

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