Bank of Montreal Can Has $978,000 Holdings in Virtusa Co. (VRTU)

Bank of Montreal Can raised its stake in Virtusa Co. (NASDAQ:VRTU) by 5,546.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 22,189 shares of the information technology services provider’s stock after acquiring an additional 21,796 shares during the quarter. Bank of Montreal Can’s holdings in Virtusa were worth $978,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Virtusa by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock valued at $60,964,000 after acquiring an additional 119,133 shares during the period. Dimensional Fund Advisors LP grew its position in Virtusa by 4.9% in 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. Vaughan Nelson Investment Management L.P. grew its position in Virtusa by 4.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 928,500 shares of the information technology services provider’s stock valued at $35,078,000 after acquiring an additional 40,850 shares during the period. State Street Corp grew its position in Virtusa by 4.0% in the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock valued at $19,774,000 after acquiring an additional 25,883 shares during the period. Finally, Northern Trust Corp grew its position in Virtusa by 48.6% in the second quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock valued at $17,309,000 after acquiring an additional 192,475 shares during the period. Hedge funds and other institutional investors own 86.50% of the company’s stock.

Shares of Virtusa Co. (NASDAQ VRTU) opened at $49.25 on Friday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.24 and a current ratio of 4.24. The company has a market capitalization of $1,456.47, a price-to-earnings ratio of 273.61, a PEG ratio of 2.50 and a beta of 1.48. Virtusa Co. has a 1-year low of $25.72 and a 1-year high of $50.00.

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

VRTU has been the topic of a number of analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $37.00 price target on shares of Virtusa in a research report on Sunday, November 5th. Maxim Group upgraded Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, November 8th. Barrington Research upped their price target on Virtusa to $52.00 and gave the company an “outperform” rating in a research report on Thursday, November 9th. TheStreet upgraded Virtusa from a “c” rating to a “b-” rating in a research report on Wednesday, November 8th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $52.00 price target on shares of Virtusa in a research report on Friday, November 10th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $50.63.

In other news, CEO Kris A. Canekeratne sold 10,000 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $45.48, for a total transaction of $454,800.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Raj Rajgopal sold 4,025 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $45.51, for a total value of $183,177.75. The disclosure for this sale can be found here. Insiders have sold 67,580 shares of company stock worth $3,127,526 in the last 90 days. Company insiders own 5.96% of the company’s stock.

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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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