Arizona State Retirement System boosted its stake in Virtusa Co. (NASDAQ:VRTU) by 224.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 45,901 shares of the information technology services provider’s stock after buying an additional 31,746 shares during the period. Arizona State Retirement System owned 0.16% of Virtusa worth $2,023,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds also recently modified their holdings of VRTU. Bank of Montreal Can increased its position in shares of Virtusa by 5,546.1% during the fourth quarter. Bank of Montreal Can now owns 22,189 shares of the information technology services provider’s stock valued at $978,000 after acquiring an additional 21,796 shares in the last quarter. State Street Corp grew its position 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 worth $19,774,000 after purchasing an additional 25,883 shares during the period. Citadel Advisors LLC grew its position in Virtusa by 70.4% in the 3rd quarter. Citadel Advisors LLC now owns 109,197 shares of the information technology services provider’s stock worth $4,126,000 after purchasing an additional 45,106 shares during the period. New York State Common Retirement Fund grew its position in Virtusa by 81.0% in the 3rd quarter. New York State Common Retirement Fund now owns 52,853 shares of the information technology services provider’s stock worth $1,997,000 after purchasing an additional 23,653 shares during the period. Finally, Hussman Strategic Advisors Inc. grew its position in Virtusa by 50.0% in the 4th quarter. Hussman Strategic Advisors Inc. now owns 75,000 shares of the information technology services provider’s stock worth $3,306,000 after purchasing an additional 25,000 shares during the period. Institutional investors and hedge funds own 86.76% of the company’s stock.
Virtusa Co. (NASDAQ VRTU) traded down $0.37 during trading hours on Friday, reaching $49.18. 367,240 shares of the company were exchanged, compared to its average volume of 231,003. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.24 and a quick ratio of 4.24. Virtusa Co. has a 12 month low of $25.72 and a 12 month high of $52.88. The stock has a market capitalization of $1,447.37, a PE ratio of 61.47, a price-to-earnings-growth ratio of 2.47 and a beta of 1.35.
Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. The business had revenue of $263.80 million for the quarter, compared to analyst estimates of $259.81 million. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. Virtusa’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 EPS. equities analysts anticipate that Virtusa Co. will post 1 earnings per share for the current fiscal year.
VRTU has been the subject of a number of research analyst reports. Zacks Investment Research downgraded shares of Virtusa from a “hold” rating to a “sell” rating in a research report on Thursday, February 22nd. Cowen reiterated a “buy” rating and set a $55.00 price target on shares of Virtusa in a research note on Thursday, December 14th. BidaskClub cut shares of Virtusa from a “strong-buy” rating to a “buy” rating in a research note on Saturday, December 30th. Maxim Group set a $59.00 target price on shares of Virtusa and gave the company a “buy” rating in a research note on Thursday, February 8th. Finally, ValuEngine upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $57.88.
In related news, EVP Thomas R. Holler sold 17,479 shares of the firm’s stock in a transaction on Thursday, March 15th. The shares were sold at an average price of $50.53, for a total transaction of $883,213.87. Following the sale, the executive vice president now owns 38,189 shares in the company, valued at $1,929,690.17. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Raj Rajgopal sold 41,108 shares of the stock in a transaction on Friday, March 16th. The shares were sold at an average price of $49.36, for a total transaction of $2,029,090.88. Following the transaction, the insider now directly owns 86,661 shares in the company, valued at $4,277,586.96. The disclosure for this sale can be found here. Insiders sold 154,162 shares of company stock worth $7,506,145 in the last quarter. Company insiders own 5.96% of the company’s stock.
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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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