Dorsal Capital Management LLC Has $71.37 Million Position in Perspecta Inc (PRSP)
Dorsal Capital Management LLC boosted its holdings in Perspecta Inc (NASDAQ:PRSP) by 98.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,775,000 shares of the company’s stock after buying an additional 1,375,000 shares during the period. Perspecta makes up about 4.1% of Dorsal Capital Management LLC’s investment portfolio, making the stock its 13th biggest position. Dorsal Capital Management LLC owned approximately 1.67% of Perspecta worth $71,373,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in PRSP. BlackRock Inc. increased its position in shares of Perspecta by 0.7% during the third quarter. BlackRock Inc. now owns 16,613,779 shares of the company’s stock worth $427,308,000 after acquiring an additional 110,488 shares in the last quarter. Investec Asset Management LTD bought a new stake in shares of Perspecta during the second quarter worth $69,124,000. Eagle Asset Management Inc. increased its position in shares of Perspecta by 26.4% during the third quarter. Eagle Asset Management Inc. now owns 2,824,321 shares of the company’s stock worth $72,641,000 after acquiring an additional 589,139 shares in the last quarter. Boston Partners bought a new stake in shares of Perspecta during the second quarter worth $45,584,000. Finally, Northern Trust Corp bought a new stake in shares of Perspecta during the second quarter worth $42,661,000.
Several equities research analysts have recently issued reports on PRSP shares. Wells Fargo & Co raised shares of Perspecta from a “market perform” rating to an “outperform” rating in a research report on Friday, September 14th. Zacks Investment Research raised shares of Perspecta from a “hold” rating to a “buy” rating and set a $26.00 price objective for the company in a research report on Wednesday, August 22nd. Stifel Nicolaus started coverage on shares of Perspecta in a research report on Tuesday, October 16th. They set a “buy” rating and a $35.00 price objective for the company. Cowen reissued a “buy” rating and set a $30.00 price objective on shares of Perspecta in a research report on Thursday, November 15th. Finally, Loop Capital started coverage on shares of Perspecta in a research report on Thursday, August 9th. They set a “hold” rating and a $23.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Perspecta has a consensus rating of “Buy” and an average target price of $27.60.
Perspecta (NASDAQ:PRSP) last issued its quarterly earnings data on Wednesday, November 14th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.02. The company had revenue of $1.07 billion for the quarter, compared to the consensus estimate of $1.05 billion. Perspecta’s revenue for the quarter was up 51.3% compared to the same quarter last year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Investors of record on Wednesday, December 5th will be given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend is Tuesday, December 4th.
Perspecta Company Profile
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