Virtusa Co. (VRTU) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN boosted its holdings in Virtusa Co. (NASDAQ:VRTU) by 51.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 33,899 shares of the information technology services provider’s stock after acquiring an additional 11,482 shares during the period. Wells Fargo & Company MN owned 0.12% of Virtusa worth $1,281,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Virtusa by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock valued at $60,964,000 after acquiring an additional 119,133 shares during the period. Dimensional Fund Advisors LP raised its stake in Virtusa by 24.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,880,104 shares of the information technology services provider’s stock valued at $55,276,000 after acquiring an additional 374,317 shares during the period. Vaughan Nelson Investment Management L.P. raised its stake in Virtusa by 4.6% in the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 928,500 shares of the information technology services provider’s stock valued at $35,078,000 after acquiring an additional 40,850 shares during the period. State Street Corp raised its stake in Virtusa by 4.0% in the 2nd quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock valued at $19,774,000 after acquiring an additional 25,883 shares during the period. Finally, Royal Bank of Canada raised its stake in Virtusa by 8.3% in the 2nd quarter. Royal Bank of Canada now owns 599,501 shares of the information technology services provider’s stock valued at $17,626,000 after acquiring an additional 46,016 shares during the period. Institutional investors and hedge funds own 87.87% of the company’s stock.

A number of equities research analysts recently weighed in on VRTU shares. Cowen restated a “buy” rating and issued a $37.00 price target on shares of Virtusa in a research note on Thursday, October 12th. Cantor Fitzgerald restated a “buy” rating and issued a $37.00 price target on shares of Virtusa in a research note on Sunday, November 5th. Maxim Group upgraded Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, November 8th. Barrington Research increased their price target on Virtusa to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, TheStreet upgraded Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $49.25.

In other news, CEO Kris A. Canekeratne sold 10,000 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $45.06, for a total transaction of $450,600.00. Following the sale, the chief executive officer now directly owns 571,491 shares of the company’s stock, valued at approximately $25,751,384.46. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Friday, January 19th. The stock was sold at an average price of $47.70, for a total value of $572,400.00. Following the sale, the chief executive officer now directly owns 541,491 shares in the company, valued at $25,829,120.70. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 89,580 shares of company stock worth $4,095,604. Insiders own 5.96% of the company’s stock.

Virtusa Co. (NASDAQ:VRTU) opened at $46.70 on Tuesday. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.18. Virtusa Co. has a 1-year low of $24.84 and a 1-year high of $48.71. The company has a market capitalization of $1,409.83, a price-to-earnings ratio of 65.77, a price-to-earnings-growth ratio of 2.31 and a beta of 1.72.

Virtusa (NASDAQ:VRTU) last issued its quarterly earnings data on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. Virtusa 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 analyst estimates of $237.48 million. During the same period in the prior year, the firm posted $0.27 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. equities research analysts predict that Virtusa Co. will post 1.04 earnings per share for the current year.

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About Virtusa

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.

Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

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