First Mercantile Trust Co. cut its position in Virtusa Corp. (NASDAQ:VRTU) by 6.5% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 12,777 shares of the company’s stock after selling 890 shares during the period. First Mercantile Trust Co.’s holdings in Virtusa Corp. were worth $369,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in VRTU. PineBridge Investments L.P. boosted its position in Virtusa Corp. by 4.2% in the second quarter. PineBridge Investments L.P. now owns 3,454 shares of the company’s stock worth $100,000 after buying an additional 139 shares during the last quarter. Teacher Retirement System of Texas boosted its position in Virtusa Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,961 shares of the company’s stock worth $114,000 after buying an additional 482 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in Virtusa Corp. during the second quarter worth $180,000. BNP Paribas Arbitrage SA raised 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 valued at $246,000 after buying an additional 4,725 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Virtusa Corp. during the second quarter valued at approximately $256,000. 85.76% of the stock is owned by institutional investors.
Virtusa Corp. (NASDAQ:VRTU) opened at 24.04 on Thursday. The firm’s 50 day moving average price is $24.21 and its 200 day moving average price is $30.78. The stock has a market cap of $718.05 million, a price-to-earnings ratio of 25.36 and a beta of 1.49. Virtusa Corp. has a one year low of $20.74 and a one year high of $59.40.
Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings results on Tuesday, August 9th. The company reported $0.18 earnings per share for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. The company earned $205.50 million during the quarter, compared to analyst estimates of $203.82 million. Virtusa Corp. had a net margin of 4.24% and a return on equity of 7.38%. The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. Equities analysts forecast that Virtusa Corp. will post $1.63 earnings per share for the current year.
Several equities research analysts have commented on the company. Cantor Fitzgerald set a $28.00 price objective on Virtusa Corp. and gave the stock a “buy” rating in a research note on Sunday, September 11th. Maxim Group cut their price objective on Virtusa Corp. from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. Needham & Company LLC reiterated a “buy” rating and set a $32.00 price objective (down from $45.00) on shares of Virtusa Corp. in a research note on Thursday, August 11th. TheStreet lowered Virtusa Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Finally, Zacks Investment Research upgraded Virtusa Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. One equities 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 stock. The company currently has a consensus rating of “Hold” and a consensus target price of $38.22.
In related news, Director Ronald T. Maheu sold 3,423 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $26.25, for a total transaction of $89,853.75. Following the completion of the sale, the director now directly owns 40,533 shares of the company’s stock, valued at $1,063,991.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Kris A. Canekeratne sold 24,000 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 826,133 shares of the company’s stock, valued at $21,487,719.33. The disclosure for this sale can be found here. 9.92% of the stock is currently owned by insiders.
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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