State Board of Administration of Florida Retirement System boosted its stake in shares of Virtusa Corp. (NASDAQ:VRTU) by 1.1% during the second quarter, Holdings Channel reports. The firm owned 22,329 shares of the company’s stock after buying an additional 251 shares during the period. State Board of Administration of Florida Retirement System owned about 0.07% of Virtusa Corp. worth $645,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA boosted its stake in Virtusa Corp. by 124.1% in the second quarter. BNP Paribas Arbitrage SA now owns 8,532 shares of the company’s stock worth $246,000 after buying an additional 4,725 shares in the last quarter. Legal & General Group Plc boosted its stake in Virtusa Corp. by 9.4% in the first quarter. Legal & General Group Plc now owns 7,003 shares of the company’s stock worth $261,000 after buying an additional 602 shares in the last quarter. Capstone Asset Management Co. boosted its stake in Virtusa Corp. by 9.7% in the second quarter. Capstone Asset Management Co. now owns 10,720 shares of the company’s stock worth $310,000 after buying an additional 950 shares in the last quarter. Louisiana State Employees Retirement System boosted its stake in Virtusa Corp. by 0.8% in the second quarter. Louisiana State Employees Retirement System now owns 12,100 shares of the company’s stock worth $349,000 after buying an additional 100 shares in the last quarter. Finally, Zebra Capital Management LLC bought a new stake in Virtusa Corp. during the first quarter worth about $351,000. 85.76% of the stock is owned by hedge funds and other institutional investors.
Virtusa Corp. (NASDAQ:VRTU) traded up 0.04% on Friday, hitting $24.68. The stock had a trading volume of 526,246 shares. The stock has a market cap of $737.17 million, a price-to-earnings ratio of 26.03 and a beta of 1.49. Virtusa Corp. has a one year low of $20.74 and a one year high of $59.40. The stock’s 50 day moving average is $24.33 and its 200 day moving average is $30.66.
Virtusa Corp. (NASDAQ:VRTU) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.18 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. Virtusa Corp. had a return on equity of 7.38% and a net margin of 4.24%. The business earned $205.50 million during the quarter, compared to analysts’ expectations of $203.82 million. During the same quarter in the prior year, the business earned $0.48 earnings per share. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. Analysts anticipate that Virtusa Corp. will post $1.63 earnings per share for the current year.
A number of research firms recently issued reports on VRTU. Zacks Investment Research cut shares of Virtusa Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 16th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Virtusa Corp. in a research note on Monday, August 22nd. Needham & Company LLC reaffirmed a “buy” rating and set a $32.00 target price (down previously from $45.00) on shares of Virtusa Corp. in a research note on Thursday, August 11th. Wedbush started coverage on shares of Virtusa Corp. in a research note on Thursday, September 8th. They set a “neutral” rating and a $29.00 target price on the stock. Finally, Maxim Group lowered their target price on shares of Virtusa Corp. from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $38.22.
In other Virtusa Corp. news, Director Ronald T. Maheu sold 3,423 shares of the stock in a transaction on Monday, September 12th. The stock was sold at an average price of $26.25, for a total value of $89,853.75. Following the completion of the transaction, the director now owns 40,533 shares in the company, valued at $1,063,991.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kris A. Canekeratne sold 24,000 shares of the stock in a transaction on Friday, September 9th. The stock was sold at an average price of $26.01, for a total value of $624,240.00. Following the completion of the transaction, the chief executive officer now owns 826,133 shares of the company’s stock, valued at approximately $21,487,719.33. The disclosure for this sale can be found here. 9.92% of the stock is owned by company insiders.
About Virtusa Corp.
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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