Nationwide Fund Advisors increased its stake in shares of Virtusa Corp. (NASDAQ:VRTU) by 2.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 138,971 shares of the company’s stock after buying an additional 2,661 shares during the period. Nationwide Fund Advisors owned about 0.46% of Virtusa Corp. worth $4,013,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. BlackRock Institutional Trust Company N.A. boosted its position in Virtusa Corp. by 1.5% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 671,550 shares of the company’s stock valued at $25,156,000 after buying an additional 9,875 shares in the last quarter. Henderson Group PLC boosted its position in Virtusa Corp. by 57.6% in the second quarter. Henderson Group PLC now owns 417,757 shares of the company’s stock valued at $12,065,000 after buying an additional 152,704 shares in the last quarter. Summit Creek Advisors LLC boosted its position in Virtusa Corp. by 5.0% in the second quarter. Summit Creek Advisors LLC now owns 395,294 shares of the company’s stock valued at $11,416,000 after buying an additional 18,811 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Virtusa Corp. during the second quarter valued at approximately $7,916,000. Finally, Bank of Montreal Can bought a new position in Virtusa Corp. during the second quarter valued at approximately $5,716,000. Institutional investors and hedge funds own 85.76% of the company’s stock.
Virtusa Corp. (NASDAQ:VRTU) traded down 0.88% on Tuesday, reaching $23.56. 59,643 shares of the company’s stock were exchanged. The firm’s 50-day moving average is $24.38 and its 200-day moving average is $30.52. The firm has a market cap of $703.71 million, a PE ratio of 24.85 and a beta of 1.42. Virtusa Corp. has a 12 month low of $20.74 and a 12 month high of $59.40.
Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. Virtusa Corp. had a net margin of 4.24% and a return on equity of 7.38%. The company earned $205.50 million during the quarter, compared to the consensus estimate of $203.82 million. During the same quarter in the prior year, the firm earned $0.48 earnings per share. The firm’s revenue was up 52.4% compared to the same quarter last year. On average, equities analysts forecast that Virtusa Corp. will post $1.63 earnings per share for the current year.
Several equities analysts have recently commented on VRTU shares. Zacks Investment Research upgraded shares of Virtusa Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. Cantor Fitzgerald set a $28.00 price target on shares of Virtusa Corp. and gave the company a “buy” rating in a report on Sunday, September 11th. TheStreet cut shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Maxim Group restated a “buy” rating and set a $42.00 price target (down from $46.00) on shares of Virtusa Corp. in a report on Wednesday, June 29th. Finally, Wedbush initiated coverage on shares of Virtusa Corp. in a research note on Thursday, September 8th. They issued a “neutral” rating and a $29.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the stock. Virtusa Corp. has an average rating of “Hold” and a consensus price target of $38.22.
In other news, CEO Kris A. Canekeratne sold 24,000 shares of the stock in a transaction on Friday, September 9th. The shares were sold at an average price of $26.01, for a total transaction of $624,240.00. Following the completion of the sale, the chief executive officer now owns 826,133 shares of the company’s stock, valued at $21,487,719.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $89,853.75. Following the sale, the director now directly owns 40,533 shares of the company’s stock, valued at approximately $1,063,991.25. The disclosure for this sale can be found here. Insiders own 9.92% of the company’s stock.
Virtusa Corp. 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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