OppenheimerFunds Inc. lowered its stake in shares of Virtusa Co. (NASDAQ:VRTU) by 19.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,671 shares of the information technology services provider’s stock after selling 3,227 shares during the quarter. OppenheimerFunds Inc.’s holdings in Virtusa were worth $602,000 at the end of the most recent reporting period.
A number of other large investors also recently added to or reduced their stakes in VRTU. Dimensional Fund Advisors LP boosted its position in Virtusa by 4.9% during the 3rd 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 purchasing an additional 92,126 shares during the period. First Trust Advisors LP acquired a new position in Virtusa during the 4th quarter worth $3,330,000. BlackRock Inc. boosted its position in Virtusa by 1.8% during the 4th quarter. BlackRock Inc. now owns 3,408,244 shares of the information technology services provider’s stock worth $150,234,000 after acquiring an additional 58,844 shares during the period. Citadel Advisors LLC boosted its position in Virtusa by 70.4% during the 3rd quarter. Citadel Advisors LLC now owns 109,197 shares of the information technology services provider’s stock worth $4,126,000 after acquiring an additional 45,106 shares during the period. Finally, Arizona State Retirement System boosted its position in Virtusa by 224.3% during the 4th quarter. Arizona State Retirement System now owns 45,901 shares of the information technology services provider’s stock worth $2,023,000 after acquiring an additional 31,746 shares during the period. Institutional investors and hedge funds own 86.65% of the company’s stock.
A number of research analysts have issued reports on VRTU shares. Cowen reiterated a “buy” rating and set a $55.00 price target on shares of Virtusa in a research report on Thursday, December 14th. BidaskClub lowered Virtusa from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 30th. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Saturday, January 13th. Maxim Group set a $59.00 price target on Virtusa and gave the stock a “buy” rating in a research report on Thursday, February 8th. Finally, Barrington Research boosted their price target on Virtusa from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $57.88.
Shares of VRTU stock opened at $49.92 on Wednesday. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.23. The firm has a market capitalization of $1,447.35, a price-to-earnings ratio of 277.33, a PEG ratio of 2.47 and a beta of 1.35. Virtusa Co. has a twelve month low of $25.72 and a twelve month high of $52.88.
Virtusa (NASDAQ:VRTU) last announced its quarterly earnings data on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The business had revenue of $263.80 million during the quarter, compared to analyst estimates of $259.81 million. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The company’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.37 earnings per share. analysts forecast that Virtusa Co. will post 1 EPS for the current year.
In other news, CEO Kris A. Canekeratne sold 3,000 shares of the company’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $47.60, for a total value of $142,800.00. Following the completion of the sale, the chief executive officer now owns 497,827 shares in the company, valued at $23,696,565.20. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $44.35, for a total value of $178,508.75. Following the completion of the sale, the insider now owns 98,576 shares of the company’s stock, valued at approximately $4,371,845.60. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,027 shares of company stock valued at $8,204,664. Insiders own 5.96% of the company’s stock.
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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