Metropolitan Life Insurance Co. NY Cuts Stake in Virtusa Co. (VRTU)

Metropolitan Life Insurance Co. NY lessened its position in shares of Virtusa Co. (NASDAQ:VRTU) by 50.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,639 shares of the information technology services provider’s stock after selling 8,852 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Virtusa were worth $381,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in shares of Virtusa by 1.8% during the fourth quarter. BlackRock Inc. now owns 3,408,244 shares of the information technology services provider’s stock valued at $150,234,000 after acquiring an additional 58,844 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Virtusa by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,972,230 shares of the information technology services provider’s stock valued at $74,511,000 after acquiring an additional 92,126 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Virtusa by 6.1% during the fourth quarter. Bank of New York Mellon Corp now owns 343,733 shares of the information technology services provider’s stock valued at $15,151,000 after acquiring an additional 19,899 shares during the period. Geode Capital Management LLC lifted its stake in shares of Virtusa by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 248,677 shares of the information technology services provider’s stock valued at $10,961,000 after acquiring an additional 1,425 shares during the period. Finally, Millennium Management LLC lifted its stake in shares of Virtusa by 93.7% during the fourth quarter. Millennium Management LLC now owns 202,154 shares of the information technology services provider’s stock valued at $8,911,000 after acquiring an additional 97,768 shares during the period. 86.74% of the stock is currently owned by institutional investors and hedge funds.

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In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $51.22, for a total value of $614,640.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raj Rajgopal sold 41,108 shares of the stock in a transaction dated Friday, March 16th. The stock was sold at an average price of $49.36, for a total value of $2,029,090.88. Following the completion of the sale, the insider now owns 86,661 shares of the company’s stock, valued at $4,277,586.96. The disclosure for this sale can be found here. Insiders sold 149,027 shares of company stock valued at $7,354,717 in the last quarter. 5.96% of the stock is currently owned by corporate insiders.

Several equities analysts have recently issued reports on the company. Wedbush raised Virtusa from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 4th. Zacks Investment Research raised Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Thursday, January 25th. SunTrust Banks downgraded Virtusa from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. BidaskClub downgraded Virtusa from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, Barrington Research upped their price objective on Virtusa from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Virtusa currently has an average rating of “Buy” and an average target price of $57.88.

NASDAQ VRTU opened at $48.37 on Tuesday. The stock has a market capitalization of $1,382.31, a P/E ratio of 72.19, a P/E/G ratio of 1.58 and a beta of 1.27. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.23. Virtusa Co. has a 12 month low of $25.72 and a 12 month high of $52.88.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.02. The business had revenue of $263.80 million during the quarter, compared to the consensus estimate of $259.81 million. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 earnings per share. equities research analysts predict that Virtusa Co. will post 0.99 EPS 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.

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Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

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