Nationwide Fund Advisors cut its stake in shares of Virtusa Corporation (NASDAQ:VRTU) by 42.0% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 18,572 shares of the information technology services provider’s stock after selling 13,469 shares during the quarter. Nationwide Fund Advisors owned approximately 0.06% of Virtusa Corporation worth $546,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in Virtusa Corporation by 19.4% during the first quarter. Wells Fargo & Company MN now owns 22,615 shares of the information technology services provider’s stock worth $684,000 after purchasing an additional 3,668 shares during the last quarter. Parametric Portfolio Associates LLC lifted its stake in Virtusa Corporation by 0.9% in the first quarter. Parametric Portfolio Associates LLC now owns 54,485 shares of the information technology services provider’s stock valued at $1,647,000 after buying an additional 510 shares during the last quarter. OppenheimerFunds Inc. raised its stake in shares of Virtusa Corporation by 0.9% during the first quarter. OppenheimerFunds Inc. now owns 18,987 shares of the information technology services provider’s stock worth $574,000 after purchasing an additional 176 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Virtusa Corporation by 3.6% during the first quarter. Principal Financial Group Inc. now owns 209,487 shares of the information technology services provider’s stock worth $6,331,000 after purchasing an additional 7,337 shares during the last quarter. Finally, Wellington Management Group LLP purchased a new stake in shares of Virtusa Corporation during the first quarter worth approximately $7,003,000. 93.05% of the stock is owned by institutional investors and hedge funds.
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Several equities research analysts have recently commented on the company. Cowen and Company restated a “buy” rating and set a $36.00 price target on shares of Virtusa Corporation in a research note on Friday, July 28th. Zacks Investment Research lowered Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub raised Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Barrington Research upped their price objective on Virtusa Corporation to $52.00 and gave the stock an “outperform” rating in a report on Thursday. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price objective (up previously from $38.00) on shares of Virtusa Corporation in a report on Saturday, August 19th. One investment analyst has rated the stock with a sell rating, one has given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $43.50.
In other Virtusa Corporation news, CEO Kris A. Canekeratne sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $37.96, for a total transaction of $835,120.00. Following the completion of the sale, the chief executive officer now owns 577,491 shares in the company, valued at approximately $21,921,558.36. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Trust Martin sold 3,080 shares of the firm’s stock in a transaction that occurred on Wednesday, August 30th. The shares were sold at an average price of $35.55, for a total value of $109,494.00. Following the sale, the director now owns 22,716 shares of the company’s stock, valued at approximately $807,553.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 82,326 shares of company stock valued at $3,018,860. Insiders own 5.96% of the company’s stock.
Shares of Virtusa Corporation (NASDAQ VRTU) opened at $44.42 on Friday. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.26. Virtusa Corporation has a 12-month low of $18.94 and a 12-month high of $48.15. The stock has a market capitalization of $1,304.39, a price-to-earnings ratio of 50.48, a PEG ratio of 2.23 and a beta of 1.66.
Virtusa Corporation (NASDAQ:VRTU) last released its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.11. Virtusa Corporation had a return on equity of 4.86% and a net margin of 2.54%. The firm had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. During the same period in the prior year, the business posted $0.27 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. sell-side analysts anticipate that Virtusa Corporation will post 1 EPS for the current fiscal year.
About Virtusa Corporation
Virtusa Corporation (Virtusa) is an information technology services company. The Company’s services include information technology (IT) and business consulting, digital enablement services, user experience (UX) design, development of IT applications, maintenance and support services, systems integration, infrastructure and managed services.
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