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  • Friday, April 26, 2024

Jana Partners Owns 5.9% Stake in Perspecta

New York-based hedge fund Jana Partners said in a regulatory filing Thursday that it owns a 5.9 percent stake in Perspecta (NYSE: PRSP) and that it plans to meet with the latter company’s management team and board to talk about “industry consolidation, capitalization, and operations,” among others, Reuters reported Friday.

Jana’s stake in Perspecta represents 9.4M shares. The hedge fund started ramping up its stake during the first quarter and continued purchasing when Perspecta’s stock closed at $21.06 per share Thursday.

Perspecta launched in June 2018 after DXC Technology (NYSE: DXC) spun off its U.S. public sector business and merged it with Vencore and KeyPoint Government Solutions.

The transaction that created Perspecta as an independent government technology services contractor reached its two-year mark, which industry analysts said clears potential tax restrictions to a sale.

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