Teacher Retirement System of Texas acquired a new stake in Virtusa Co. (NASDAQ:VRTU) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 9,561 shares of the information technology services provider’s stock, valued at approximately $421,000.
A number of other institutional investors have also recently bought and sold shares of VRTU. Victory Capital Management Inc. purchased a new position in Virtusa in the third quarter valued at approximately $130,000. Piedmont Investment Advisors LLC purchased a new position in Virtusa in the third quarter valued at approximately $224,000. Trexquant Investment LP purchased a new position in Virtusa in the third quarter valued at approximately $247,000. Crossmark Global Holdings Inc. purchased a new position in Virtusa in the third quarter valued at approximately $379,000. Finally, Municipal Employees Retirement System of Michigan lifted its stake in Virtusa by 59.8% in the third quarter. Municipal Employees Retirement System of Michigan now owns 10,400 shares of the information technology services provider’s stock valued at $393,000 after purchasing an additional 3,890 shares during the last quarter. Institutional investors and hedge funds own 86.76% of the company’s stock.
Several equities analysts recently commented on the company. BidaskClub downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Barrington Research set a $55.00 price objective on Virtusa and gave the company a “buy” rating in a research note on Tuesday, March 13th. Needham & Company LLC upped their price objective on Virtusa to $65.00 and gave the company a “buy” rating in a research note on Thursday. Wedbush downgraded Virtusa from an “outperform” rating to a “neutral” rating and upped their price objective for the company from $55.00 to $60.00 in a research note on Tuesday, March 13th. Finally, ValuEngine upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $57.88.
In other Virtusa news, insider Raj Rajgopal sold 4,025 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $44.35, for a total transaction of $178,508.75. Following the sale, the insider now owns 98,576 shares of the company’s stock, valued at approximately $4,371,845.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Thomas R. Holler sold 17,479 shares of the business’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 directly owns 38,189 shares in the company, valued at approximately $1,929,690.17. The disclosure for this sale can be found here. Insiders have sold a total of 154,162 shares of company stock worth $7,506,145 in the last three months. Insiders own 5.96% of the company’s stock.
Shares of Virtusa Co. (NASDAQ:VRTU) opened at $49.18 on Friday. 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 1-year low of $25.72 and a 1-year high of $52.88. The stock has a market cap of $1,458.24, a price-to-earnings ratio of 273.22, a price-to-earnings-growth ratio of 2.49 and a beta of 1.35.
Virtusa (NASDAQ:VRTU) last issued its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The business had revenue of $263.80 million for the quarter, compared to analysts’ expectations of $259.81 million. During the same quarter in the previous year, the firm posted $0.37 EPS. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. equities research analysts forecast that Virtusa Co. will post 1 earnings per share for the current fiscal year.
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Virtusa Company Profile
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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