Water Island Capital LLC Takes $3.07 Million Position in Perspecta Inc (PRSP)

Water Island Capital LLC bought a new stake in shares of Perspecta Inc (NASDAQ:PRSP) in the first quarter, HoldingsChannel.com reports. The firm bought 151,665 shares of the company’s stock, valued at approximately $3,067,000.

Other institutional investors have also recently made changes to their positions in the company. Quantamental Technologies LLC boosted its holdings in Perspecta by 168.3% during the 1st 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 period. Captrust Financial Advisors boosted its holdings in Perspecta by 64.6% during the 4th 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 period. Legacy Financial Advisors Inc. boosted its holdings in Perspecta by 958.0% during the 4th quarter. Legacy Financial Advisors Inc. now owns 2,169 shares of the company’s stock valued at $37,000 after acquiring an additional 1,964 shares during the period. B.S. Pension Fund Trustee Ltd acting for the British Steel Pension Fund purchased a new position in Perspecta during the 4th quarter valued at about $62,000. Finally, State of Alaska Department of Revenue acquired a new stake in Perspecta in the 1st quarter valued at about $95,000.

PRSP stock traded up $0.13 during mid-day trading on Wednesday, reaching $22.46. The company had a trading volume of 10,541 shares, compared to its average volume of 725,339. Perspecta Inc has a fifty-two week low of $15.74 and a fifty-two week high of $27.68.

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

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 16th. Shareholders of record on Wednesday, March 27th were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.89%. The ex-dividend date of this dividend was Tuesday, March 26th.

In related news, Director Philip O. Nolan purchased 4,595 shares of Perspecta stock in a transaction on Thursday, April 4th. The shares were bought at an average price of $21.83 per share, with a total value of $100,308.85. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Philip O. Nolan purchased 4,399 shares of Perspecta stock in a transaction on Friday, May 3rd. The stock was bought at an average cost of $22.93 per share, for a total transaction of $100,869.07. The disclosure for this purchase can be found here. Insiders acquired a total of 20,970 shares of company stock worth $450,567 in the last ninety days.

A number of equities research analysts have issued reports on the company. Goldman Sachs Group assumed coverage on Perspecta in a research report on Thursday, May 9th. They issued a “sell” rating and a $21.00 price target on the stock. Cowen reaffirmed a “buy” rating and issued a $28.00 price target on shares of Perspecta in a research report on Wednesday, February 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the company’s stock. Perspecta has an average rating of “Hold” and a consensus price target of $25.50.

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About Perspecta

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Institutional Ownership by Quarter for Perspecta (NASDAQ:PRSP)

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