Royal Bank of Canada Raises Holdings in CSRA Inc. (CSRA)
Royal Bank of Canada boosted its position in CSRA Inc. (NYSE:CSRA) by 17.2% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,587,157 shares of the technology company’s stock after buying an additional 232,886 shares during the quarter. Royal Bank of Canada owned approximately 0.97% of CSRA worth $50,390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently modified their holdings of CSRA. Ameritas Investment Partners Inc. purchased a new stake in shares of CSRA during the first quarter valued at approximately $102,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of CSRA by 52.2% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,698 shares of the technology company’s stock valued at $117,000 after purchasing an additional 1,269 shares during the period. DekaBank Deutsche Girozentrale purchased a new stake in shares of CSRA during the second quarter valued at approximately $120,000. GLG Partners LP purchased a new stake in shares of CSRA during the second quarter valued at approximately $164,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of CSRA by 11.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,781 shares of the technology company’s stock valued at $184,000 after purchasing an additional 607 shares during the period. 92.42% of the stock is owned by institutional investors and hedge funds.
Shares of CSRA Inc. (NYSE:CSRA) traded down 1.31% during mid-day trading on Thursday, reaching $31.56. The company had a trading volume of 212,494 shares. The company has a market capitalization of $5.16 billion, a price-to-earnings ratio of 16.44 and a beta of 1.95. CSRA Inc. has a 52 week low of $24.48 and a 52 week high of $33.67. The stock has a 50 day moving average of $31.90 and a 200-day moving average of $30.99.
CSRA (NYSE:CSRA) last issued its quarterly earnings results on Wednesday, August 9th. The technology company reported $0.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.03. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.24 billion. CSRA had a return on equity of 101.22% and a net margin of 6.36%. CSRA’s revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. On average, analysts expect that CSRA Inc. will post $1.97 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Shareholders of record on Tuesday, August 29th were given a dividend of $0.10 per share. The ex-dividend date was Friday, August 25th. This represents a $0.40 dividend on an annualized basis and a yield of 1.25%. CSRA’s dividend payout ratio is currently 20.94%.
In other CSRA news, Director Craig L. Martin purchased 20,000 shares of the stock in a transaction on Thursday, August 17th. The shares were bought at an average price of $32.31 per share, for a total transaction of $646,200.00. Following the completion of the transaction, the director now owns 33,500 shares of the company’s stock, valued at approximately $1,082,385. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP George Batsakis sold 28,392 shares of the stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $31.42, for a total value of $892,076.64. The disclosure for this sale can be found here. Corporate insiders own 0.40% of the company’s stock.
A number of research firms have recently weighed in on CSRA. Cowen and Company reissued a “hold” rating and set a $35.00 price objective on shares of CSRA in a research note on Monday, September 18th. Jefferies Group LLC reissued a “hold” rating and set a $35.00 price objective on shares of CSRA in a research note on Thursday. SunTrust Banks, Inc. raised CSRA from a “hold” rating to a “buy” rating and increased their price objective for the company from $34.00 to $39.00 in a research note on Friday, September 15th. Zacks Investment Research raised CSRA from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, August 16th. Finally, Vertical Research lowered CSRA from a “hold” rating to a “sell” rating and set a $31.00 price objective for the company. in a research note on Tuesday. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.89.
CSRA Inc is a provider of information technology services to the United States federal government. The Company operates through two segments: Defense and Intelligence, and Civil. The Defense and Intelligence segment provides services to the Department of Defense (DoD), National Security Agency, branches of the Armed Forces, and other DoD and Intelligence agencies.
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