Wells Fargo & Company MN boosted its holdings in Virtusa Co. (NASDAQ:VRTU) by 51.2% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 33,899 shares of the information technology services provider’s stock after buying an additional 11,482 shares during the period. Wells Fargo & Company MN owned approximately 0.12% of Virtusa worth $1,281,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Citigroup Inc. increased its stake in shares of Virtusa by 14.4% in the second quarter. Citigroup Inc. now owns 29,400 shares of the information technology services provider’s stock worth $864,000 after buying an additional 3,711 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Virtusa by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock worth $60,964,000 after buying an additional 119,133 shares during the last quarter. State Street Corp boosted its holdings in Virtusa by 4.0% in the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock worth $19,774,000 after purchasing an additional 25,883 shares during the period. Vaughan Nelson Investment Management L.P. boosted its holdings in Virtusa by 4.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 928,500 shares of the information technology services provider’s stock worth $35,078,000 after purchasing an additional 40,850 shares during the period. Finally, Peregrine Capital Management LLC acquired a new position in Virtusa in the third quarter worth $9,115,000. Hedge funds and other institutional investors own 86.50% of the company’s stock.
In other Virtusa news, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $45.51, for a total transaction of $183,177.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $45.48, for a total value of $454,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 67,580 shares of company stock valued at $3,127,526. 5.96% of the stock is currently owned by company insiders.
A number of equities analysts have commented on the stock. Barrington Research lifted their price objective on shares of Virtusa from $52.00 to $55.00 and gave the stock an “outperform” rating in a report on Friday, February 9th. Maxim Group set a $59.00 price target on shares of Virtusa and gave the company a “buy” rating in a report on Thursday, February 8th. Zacks Investment Research raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a report on Thursday, January 25th. BidaskClub cut shares of Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, TheStreet upgraded shares of Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Virtusa has an average rating of “Buy” and a consensus target price of $50.63.
Virtusa Co. (NASDAQ VRTU) traded up $1.22 during trading hours on Wednesday, reaching $49.54. The company’s stock had a trading volume of 407,914 shares, compared to its average volume of 213,039. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.23. Virtusa Co. has a 52 week low of $25.72 and a 52 week high of $50.00. The stock has a market cap of $1,460.00, a PE ratio of 275.22, a PEG ratio of 2.30 and a beta of 1.48.
Virtusa (NASDAQ:VRTU) last announced its quarterly earnings results on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $263.80 million during the quarter, compared to analysts’ expectations of $259.81 million. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. sell-side analysts forecast that Virtusa Co. will post 1.04 EPS for the current year.
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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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