California Public Employees Retirement System raised its position in Virtusa Co. (NASDAQ:VRTU) by 24.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 106,684 shares of the information technology services provider’s stock after buying an additional 20,684 shares during the period. California Public Employees Retirement System’s holdings in Virtusa were worth $4,703,000 as of its most recent SEC filing.
Other large investors have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its position in shares of Virtusa by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,972,230 shares of the information technology services provider’s stock worth $74,511,000 after purchasing an additional 92,126 shares in the last quarter. Citadel Advisors LLC lifted its position in shares of Virtusa by 70.4% during the third quarter. Citadel Advisors LLC now owns 109,197 shares of the information technology services provider’s stock worth $4,126,000 after purchasing an additional 45,106 shares in the last quarter. Acadian Asset Management LLC acquired a new position in shares of Virtusa during the fourth quarter worth approximately $1,250,000. State Street Corp lifted its position in shares of Virtusa by 4.0% during the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock worth $19,774,000 after purchasing an additional 25,883 shares in the last quarter. Finally, Hussman Strategic Advisors Inc. lifted its position in shares of Virtusa by 50.0% during the fourth quarter. Hussman Strategic Advisors Inc. now owns 75,000 shares of the information technology services provider’s stock worth $3,306,000 after purchasing an additional 25,000 shares in the last quarter. Hedge funds and other institutional investors own 86.76% of the company’s stock.
In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $46.12, for a total value of $553,440.00. Following the completion of the sale, the chief executive officer now owns 553,491 shares of the company’s stock, valued at $25,527,004.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $44.35, for a total transaction of $178,508.75. Following the completion of the sale, the insider now directly 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. Over the last three months, insiders have sold 83,075 shares of company stock valued at $3,968,466. 5.96% of the stock is currently owned by insiders.
Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. The business had revenue of $263.80 million during the quarter, compared to the consensus estimate of $259.81 million. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. Virtusa’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.37 earnings per share. analysts predict that Virtusa Co. will post 0.99 EPS for the current year.
VRTU has been the topic of a number of research reports. BidaskClub upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Zacks Investment Research lowered shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Sunday, January 21st. Barrington Research boosted their price target on shares of Virtusa from $52.00 to $55.00 and gave the stock an “outperform” rating in a research note on Friday, February 9th. Cowen reissued a “buy” rating and set a $55.00 price target on shares of Virtusa in a research note on Thursday, December 14th. Finally, Needham & Company LLC boosted their price target on shares of Virtusa to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $56.00.
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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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