Pzena Investment Management LLC decreased its position in shares of Virtusa Corporation (NASDAQ:VRTU) by 52.1% during the third quarter, according to its most recent filing with the SEC. The firm owned 256,969 shares of the information technology services provider’s stock after selling 279,635 shares during the period. Pzena Investment Management LLC owned about 0.88% of Virtusa Corporation worth $9,708,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of the business. BlackRock Inc. boosted its position in shares of Virtusa Corporation by 120,287.9% in the 1st quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock worth $100,993,000 after purchasing an additional 3,339,191 shares in the last quarter. Morgan Stanley boosted its position in shares of Virtusa Corporation by 548.1% in the 1st quarter. Morgan Stanley now owns 560,515 shares of the information technology services provider’s stock worth $16,938,000 after purchasing an additional 474,032 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Virtusa Corporation by 24.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,880,104 shares of the information technology services provider’s stock worth $55,276,000 after purchasing an additional 374,317 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Virtusa Corporation in the 3rd quarter worth approximately $9,115,000. Finally, Mesirow Financial Investment Management Equity Management bought a new stake in shares of Virtusa Corporation in the 2nd quarter worth approximately $6,899,000. Hedge funds and other institutional investors own 93.05% of the company’s stock.
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In related news, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $36.05, for a total value of $145,101.25. Following the transaction, the insider now directly owns 107,216 shares of the company’s stock, valued at approximately $3,865,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 6,000 shares of the company’s stock in a transaction that occurred on Monday, August 14th. The shares were sold at an average price of $36.68, for a total value of $220,080.00. Following the completion of the transaction, the chief executive officer now directly owns 616,186 shares in the company, valued at $22,601,702.48. The disclosure for this sale can be found here. Insiders sold a total of 82,326 shares of company stock worth $3,018,860 over the last ninety days. 5.96% of the stock is currently owned by insiders.
Virtusa Corporation (VRTU) traded down $1.19 during mid-day trading on Friday, reaching $44.42. The company had a trading volume of 243,000 shares, compared to its average volume of 144,126. The company has a market cap of $1,304.39, a PE ratio of 50.48, a PEG ratio of 2.23 and a beta of 1.66. Virtusa Corporation has a fifty-two week low of $18.94 and a fifty-two week high of $48.15. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.26.
Virtusa Corporation (NASDAQ:VRTU) last released its quarterly earnings data on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $237.48 million. Virtusa Corporation had a return on equity of 4.86% and a net margin of 2.54%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.27 EPS. analysts predict that Virtusa Corporation will post 1 EPS for the current year.
A number of analysts have recently commented on the company. TheStreet raised Virtusa Corporation from a “c” rating to a “b-” rating in a research report on Wednesday. SunTrust Banks, Inc. reissued a “buy” rating and issued a $52.00 price target on shares of Virtusa Corporation in a research report on Friday. Zacks Investment Research cut Virtusa Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. BidaskClub raised Virtusa Corporation from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target (up from $38.00) on shares of Virtusa Corporation in a research report on Saturday, August 19th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $43.50.
Virtusa Corporation 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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