Perspecta (NASDAQ:PRSP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Tuesday, Zacks.com reports. The brokerage currently has a $27.00 price objective on the stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.55% from the stock’s previous close.
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 equities research analysts have also issued research reports about the company. Loop Capital lifted their price objective on Perspecta to $22.00 and gave the stock a “hold” rating in a report on Friday, June 7th. Goldman Sachs Group assumed coverage on Perspecta in a report on Thursday, May 9th. They set a “sell” rating and a $21.00 target price for the company. Cowen lowered Perspecta from an “outperform” rating to a “market perform” rating and reduced their target price for the company from $28.00 to $26.00 in a report on Monday, June 10th. Finally, Morgan Stanley set a $21.00 target price on Perspecta and gave the company a “sell” rating in a report on Monday, June 17th. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $25.33.
Perspecta (NASDAQ:PRSP) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.02. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period last year, the business posted $0.54 EPS. The company’s revenue was up 47.5% compared to the same quarter last year.
In related news, Director Philip O. Nolan bought 4,366 shares of Perspecta stock in a transaction on Wednesday, July 3rd. The stock was acquired at an average price of $22.98 per share, with a total value of $100,330.68. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Philip O. Nolan bought 4,257 shares of Perspecta stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $23.37 per share, with a total value of $99,486.09. The disclosure for this purchase can be found here. Insiders have acquired a total of 13,328 shares of company stock valued at $300,927 in the last ninety days.
Hedge funds have recently bought and sold shares of the business. Barings LLC lifted its position in Perspecta by 26.7% in the 2nd quarter. Barings LLC now owns 32,237 shares of the company’s stock worth $755,000 after buying an additional 6,800 shares during the last quarter. Royal Bank of Canada lifted its position in Perspecta by 65.3% in the 2nd quarter. Royal Bank of Canada now owns 12,518 shares of the company’s stock worth $291,000 after buying an additional 4,947 shares during the last quarter. Verition Fund Management LLC bought a new stake in Perspecta in the 2nd quarter worth approximately $576,000. Amundi Pioneer Asset Management Inc. lifted its position in Perspecta by 4.6% in the 2nd quarter. Amundi Pioneer Asset Management Inc. now owns 339,104 shares of the company’s stock worth $7,938,000 after buying an additional 14,796 shares during the last quarter. Finally, United Services Automobile Association lifted its position in Perspecta by 14.8% in the second quarter. United Services Automobile Association now owns 214,766 shares of the company’s stock valued at $5,028,000 after purchasing an additional 27,615 shares during the last quarter.
There is no company description available for Perspecta Inc
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