PRSP - Why Shares of Perspecta Are Soaring Higher Today
Shares of Perspecta (NYSE: PRSP) traded up 18% on Friday after activist Jana Partners disclosed a 5.9% stake in the government services company and said it intends to push for change. Perspecta is in a period of transition, and the added pressure from Jana could add to the odds the company ends up being acquired.
Perspecta shareholders were dealt a big blow back in February when the government contractor lost a major bid. The U.S. Navy awarded Leidos Holdings a $7.73 billion award to modernize and maintain computer networks for the Navy and Marine Corps over bids from Perspecta, the incumbent IT vendor for the Navy, as well as others.
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