Pinebridge Investments L.P. boosted its stake in Virtusa Co. (NASDAQ:VRTU) by 24.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,341 shares of the information technology services provider’s stock after acquiring an additional 10,179 shares during the period. Pinebridge Investments L.P.’s holdings in Virtusa were worth $2,264,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently bought and sold shares of VRTU. Teachers Advisors LLC raised its holdings in Virtusa by 4.6% in the second quarter. Teachers Advisors LLC now owns 49,641 shares of the information technology services provider’s stock valued at $1,459,000 after acquiring an additional 2,171 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Virtusa by 0.5% in the second quarter. Ameriprise Financial Inc. now owns 146,502 shares of the information technology services provider’s stock valued at $4,307,000 after acquiring an additional 705 shares in the last quarter. Northern Trust Corp raised its holdings in Virtusa by 48.6% in the second quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock valued at $17,309,000 after acquiring an additional 192,475 shares in the last quarter. Vanguard Group Inc. raised its holdings in 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 valued at $60,964,000 after acquiring an additional 119,133 shares in the last quarter. Finally, California Public Employees Retirement System raised its holdings in Virtusa by 2.3% in the second quarter. California Public Employees Retirement System now owns 86,000 shares of the information technology services provider’s stock valued at $2,528,000 after acquiring an additional 1,900 shares in the last quarter. 84.55% of the stock is currently owned by hedge funds and other institutional investors.
VRTU has been the topic of several recent analyst reports. TheStreet raised shares of Virtusa from a “c” rating to a “b-” rating in a report on Wednesday, November 8th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $37.00 price target on shares of Virtusa in a report on Sunday, November 5th. SunTrust Banks reaffirmed a “buy” rating and issued a $52.00 price target on shares of Virtusa in a report on Friday, November 10th. BidaskClub cut shares of Virtusa from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 30th. Finally, Cowen reaffirmed a “buy” rating and issued a $55.00 price target on shares of Virtusa in a report on Thursday, December 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Virtusa currently has an average rating of “Buy” and a consensus price target of $50.63.
In other Virtusa news, CEO Kris A. Canekeratne sold 10,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $45.48, for a total transaction of $454,800.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Thursday, January 11th. The stock was sold at an average price of $46.12, for a total transaction of $553,440.00. Following the sale, the chief executive officer now directly owns 553,491 shares in the company, valued at $25,527,004.92. The disclosure for this sale can be found here. Insiders have sold 67,580 shares of company stock worth $3,127,526 over the last three months. 5.96% of the stock is owned by corporate insiders.
Shares of Virtusa Co. (NASDAQ:VRTU) opened at $49.56 on Wednesday. The firm has a market cap of $1,449.41, a price-to-earnings ratio of 275.33, a price-to-earnings-growth ratio of 2.49 and a beta of 1.48. Virtusa Co. has a twelve month low of $25.72 and a twelve month high of $50.38. 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 (NASDAQ:VRTU) last issued its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The company had revenue of $263.80 million for the quarter, compared to analysts’ expectations of $259.81 million. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The firm’s revenue was up 21.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.37 earnings per share. sell-side analysts anticipate that Virtusa Co. will post 0.99 EPS for the current fiscal 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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