Frontier Capital Management Co. LLC lowered its position in Virtusa Co. (NASDAQ:VRTU) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 941,271 shares of the information technology services provider’s stock after selling 97,191 shares during the period. Frontier Capital Management Co. LLC owned about 3.21% of Virtusa worth $41,491,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the business. Victory Capital Management Inc. purchased a new stake in Virtusa during the 3rd quarter valued at about $130,000. SG Americas Securities LLC acquired a new position in Virtusa in the 2nd quarter valued at about $120,000. Piedmont Investment Advisors LLC acquired a new position in Virtusa in the 3rd quarter valued at about $224,000. Trexquant Investment LP acquired a new position in Virtusa in the 3rd quarter valued at about $247,000. Finally, ETRADE Capital Management LLC acquired a new position in Virtusa in the 2nd quarter valued at about $260,000. Institutional investors and hedge funds own 86.50% of the company’s stock.
Several research firms have weighed in on VRTU. Barrington Research boosted their target price on shares of Virtusa from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday. Maxim Group set a $59.00 price objective on shares of Virtusa and gave the stock a “buy” rating in a report on Thursday. Zacks Investment Research upgraded shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a report on Thursday, January 25th. BidaskClub lowered shares of Virtusa from a “buy” rating to a “hold” rating in a report on Wednesday, January 10th. Finally, TheStreet upgraded shares of Virtusa from a “c” rating to a “b-” rating in a report on Wednesday, November 8th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $50.63.
Virtusa Co. (VRTU) traded up $1.01 during mid-day trading on Monday, hitting $47.75. 342,844 shares of the stock traded hands, compared to its average volume of 212,912. Virtusa Co. has a one year low of $25.72 and a one year high of $48.71. The firm has a market cap of $1,400.00, a PE ratio of 265.72, a PEG ratio of 2.25 and a beta of 1.48. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.24 and a quick ratio of 4.24.
Virtusa (NASDAQ:VRTU) last announced its quarterly earnings data on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The firm had revenue of $263.80 million during the quarter, compared to analysts’ expectations of $259.81 million. During the same quarter last year, the business earned $0.37 earnings per share. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. equities research analysts forecast that Virtusa Co. will post 1.04 earnings per share for the current year.
In related news, CEO Kris A. Canekeratne sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $45.48, for a total value of $454,800.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction that occurred on Friday, January 19th. The shares were sold at an average price of $47.70, for a total transaction of $572,400.00. Following the completion of the sale, the chief executive officer now owns 541,491 shares of the company’s stock, valued at $25,829,120.70. The disclosure for this sale can be found here. Insiders have sold a total of 65,555 shares of company stock valued at $3,013,598 over the last 90 days. 5.96% of the stock is currently owned by insiders.
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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