California State Teachers Retirement System decreased its holdings in shares of Virtusa Co. (NASDAQ:VRTU) by 10.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 49,006 shares of the information technology services provider’s stock after selling 5,500 shares during the period. California State Teachers Retirement System owned 0.17% of Virtusa worth $1,441,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of VRTU. BlackRock Inc. boosted its holdings in shares of Virtusa by 120,287.9% in the 1st quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock valued at $100,993,000 after buying an additional 3,339,191 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Virtusa 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. Mesirow Financial Investment Management Equity Management acquired a new stake in Virtusa in the 2nd quarter worth approximately $6,899,000. Frontier Capital Management Co. LLC boosted its stake in Virtusa by 23.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,062,888 shares of the information technology services provider’s stock worth $31,249,000 after purchasing an additional 203,703 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Virtusa by 48.6% in the 2nd quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock worth $17,309,000 after purchasing an additional 192,475 shares in the last quarter. 88.04% of the stock is currently owned by institutional investors and hedge funds.
Shares of Virtusa Co. (VRTU) traded down $0.26 during midday trading on Wednesday, reaching $44.98. 203,817 shares of the company traded hands, compared to its average volume of 295,484. The stock has a market cap of $1,320.00, a price-to-earnings ratio of 51.23, a PEG ratio of 2.17 and a beta of 1.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.03. Virtusa Co. has a 12 month low of $22.49 and a 12 month high of $48.71.
Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The company had revenue of $248.20 million during the quarter, compared to analyst estimates of $237.48 million. During the same quarter in the previous year, the firm earned $0.27 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. research analysts predict that Virtusa Co. will post 1.04 EPS for the current fiscal year.
VRTU has been the subject of a number of recent analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $37.00 target price on shares of Virtusa in a research note on Sunday, November 5th. Cowen restated a “buy” rating and set a $37.00 price objective on shares of Virtusa in a research note on Thursday, October 12th. Barrington Research lifted their price objective on shares of Virtusa to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Maxim Group upgraded shares of Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a research note on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of Virtusa from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $45.00.
In other Virtusa news, Director Trust Martin sold 12,255 shares of Virtusa stock in a transaction on Thursday, September 7th. The shares were sold at an average price of $35.31, for a total transaction of $432,724.05. Following the sale, the director now owns 9,397 shares of the company’s stock, valued at approximately $331,808.07. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 789 shares of Virtusa stock in a transaction on Monday, September 18th. The stock was sold at an average price of $36.09, for a total transaction of $28,475.01. Following the sale, the chief executive officer now directly owns 594,702 shares in the company, valued at approximately $21,462,795.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 100,330 shares of company stock worth $4,130,526. 5.96% of the stock is currently owned by corporate insiders.
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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