Quantbot Technologies LP reduced its position in shares of Virtusa Co. (NASDAQ:VRTU) by 30.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,584 shares of the information technology services provider’s stock after selling 1,132 shares during the period. Quantbot Technologies LP’s holdings in Virtusa were worth $125,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRTU. SG Americas Securities LLC bought a new stake in Virtusa in the first quarter worth about $107,000. We Are One Seven LLC bought a new stake in Virtusa in the fourth quarter worth about $143,000. LS Investment Advisors LLC raised its position in Virtusa by 359.5% in the fourth quarter. LS Investment Advisors LLC now owns 4,411 shares of the information technology services provider’s stock worth $194,000 after acquiring an additional 3,451 shares during the period. Stevens Capital Management LP bought a new stake in Virtusa in the first quarter worth about $209,000. Finally, Two Sigma Advisers LP bought a new stake in Virtusa in the fourth quarter worth about $239,000. 85.64% of the stock is currently owned by institutional investors.
Several analysts have commented on VRTU shares. Zacks Investment Research lowered shares of Virtusa from a “hold” rating to a “sell” rating in a research report on Wednesday, May 16th. BidaskClub lowered shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Wednesday, May 16th. ValuEngine raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Wedbush lowered shares of Virtusa from an “outperform” rating to a “neutral” rating and lifted their price objective for the stock from $55.00 to $60.00 in a research report on Tuesday, March 13th. Finally, Needham & Company LLC lifted their price objective on shares of Virtusa to $65.00 and gave the stock a “buy” rating in a research report on Thursday, March 15th. Three research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $57.88.
Virtusa opened at $51.14 on Friday, according to Marketbeat Ratings. Virtusa Co. has a twelve month low of $28.45 and a twelve month high of $54.06. The stock has a market capitalization of $1.56 billion, a PE ratio of 57.46, a price-to-earnings-growth ratio of 1.74 and a beta of 1.28. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.54 and a quick ratio of 2.53.
Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Tuesday, May 15th. The information technology services provider reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. Virtusa had a return on equity of 5.94% and a net margin of 0.12%. The company had revenue of $281.30 million during the quarter, compared to analysts’ expectations of $282.44 million. During the same period in the previous year, the firm posted $0.43 earnings per share. The business’s revenue for the quarter was up 24.5% compared to the same quarter last year. equities research analysts anticipate that Virtusa Co. will post 1.5 EPS for the current fiscal year.
In other news, EVP Sundararajan Narayanan sold 2,000 shares of Virtusa stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $53.42, for a total value of $106,840.00. Following the completion of the sale, the executive vice president now owns 79,086 shares of the company’s stock, valued at $4,224,774.12. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William K. O’brien sold 14,074 shares of Virtusa stock in a transaction on Tuesday, June 5th. The shares were sold at an average price of $52.05, for a total value of $732,551.70. Following the completion of the sale, the director now directly owns 26,920 shares of the company’s stock, valued at approximately $1,401,186. The disclosure for this sale can be found here. Over the last three months, insiders sold 75,579 shares of company stock valued at $3,730,739. Insiders own 5.96% of the company’s stock.
Virtusa Corporation operates as an information technology (IT) services company. It offers business and IT consulting services comprising advisory/target operating model, business process re-engineering/BPM, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design ASD, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.
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