Gargoyle Investment Advisor L.L.C. Takes Position in Virtusa Corporation (VRTU)

Gargoyle Investment Advisor L.L.C. acquired a new stake in shares of Virtusa Corporation (NASDAQ:VRTU) during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 7,500 shares of the information technology services provider’s stock, valued at approximately $221,000.

Several other hedge funds have also recently added to or reduced their stakes in VRTU. Karp Capital Management Corp purchased a new stake in Virtusa Corporation during the first quarter valued at $295,000. BNP Paribas Arbitrage SA increased its stake in Virtusa Corporation by 9.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,166 shares of the information technology services provider’s stock valued at $186,000 after buying an additional 522 shares during the last quarter. First Trust Advisors LP increased its stake in Virtusa Corporation by 30.4% in the first quarter. First Trust Advisors LP now owns 61,035 shares of the information technology services provider’s stock valued at $1,844,000 after buying an additional 14,228 shares during the last quarter. State Board of Administration of Florida Retirement System increased its stake in Virtusa Corporation by 69.0% in the first quarter. State Board of Administration of Florida Retirement System now owns 35,119 shares of the information technology services provider’s stock valued at $1,061,000 after buying an additional 14,333 shares during the last quarter. Finally, Great West Life Assurance Co. Can increased its stake in Virtusa Corporation by 2.9% in the first quarter. Great West Life Assurance Co. Can now owns 38,069 shares of the information technology services provider’s stock valued at $1,149,000 after buying an additional 1,087 shares during the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Virtusa Corporation (NASDAQ VRTU) opened at 36.87 on Wednesday. Virtusa Corporation has a 1-year low of $18.03 and a 1-year high of $37.42. The firm has a 50-day moving average price of $32.29 and a 200 day moving average price of $30.17. The stock has a market cap of $1.08 billion, a price-to-earnings ratio of 53.36 and a beta of 1.71.

Virtusa Corporation (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. The company had revenue of $227.30 million for the quarter, compared to analyst estimates of $224.46 million. Virtusa Corporation had a return on equity of 4.26% and a net margin of 2.47%. Virtusa Corporation’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.18 EPS. On average, equities research analysts anticipate that Virtusa Corporation will post $1.53 EPS for the current fiscal year.

Virtusa Corporation announced that its Board of Directors has authorized a stock repurchase program on Wednesday, May 3rd that allows the company to buyback $30.00 million in outstanding shares. This buyback authorization allows the information technology services provider to reacquire up to 3.3% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s board believes its shares are undervalued.

ILLEGAL ACTIVITY NOTICE: “Gargoyle Investment Advisor L.L.C. Takes Position in Virtusa Corporation (VRTU)” was originally reported by Ticker Report and is owned by of Ticker Report. If you are accessing this report on another publication, it was copied illegally and republished in violation of United States and international copyright and trademark legislation. The original version of this report can be read at https://www.tickerreport.com/banking-finance/2823248/gargoyle-investment-advisor-l-l-c-takes-position-in-virtusa-corporation-vrtu.html.

Several analysts recently weighed in on the company. Zacks Investment Research downgraded Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Cantor Fitzgerald restated a “buy” rating and issued a $37.00 price objective on shares of Virtusa Corporation in a report on Friday, August 11th. Cowen and Company restated a “buy” rating and issued a $36.00 price objective on shares of Virtusa Corporation in a report on Friday, July 28th. Needham & Company LLC restated a “buy” rating and issued a $38.00 price objective on shares of Virtusa Corporation in a report on Thursday, August 10th. Finally, BidaskClub upgraded Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $36.38.

In other Virtusa Corporation news, CEO Kris A. Canekeratne sold 6,000 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $36.68, for a total value of $220,080.00. Following the sale, the chief executive officer now owns 616,186 shares of the company’s stock, valued at approximately $22,601,702.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas R. Holler sold 29,873 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $28.00, for a total value of $836,444.00. Following the completion of the sale, the executive vice president now directly owns 45,716 shares in the company, valued at approximately $1,280,048. The disclosure for this sale can be found here. Insiders sold a total of 199,641 shares of company stock worth $5,994,950 in the last ninety days. 5.96% of the stock is owned by corporate insiders.

About Virtusa Corporation

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.

Want to see what other hedge funds are holding VRTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virtusa Corporation (NASDAQ:VRTU).

Institutional Ownership by Quarter for Virtusa Corporation (NASDAQ:VRTU)

Receive News & Ratings for Virtusa Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


© 2006-2017 Ticker Report. Google+.