Orogen Viper LLC Owns 8.6% Stake in Virtusa Co. (VRTU)

Orogen Viper LLC

revealed that they own 8.6% of Virtusa Co. (NASDAQ:VRTU) in a Form 13D disclosure that was filed with the SEC on Friday, May 12th. The investor owns 3,000,000 shares of the stock valued at approximately $84,600,000. The reporting parties listed on the disclosure included Orogen Viper LLC, The Orogen Group LLC, Orogen Holdings LLC, Vikram S Pandit, AtairosOrogen Holdings, LLC, Atairos Group, Inc, Atairos Partners, LP, Atairos Partners GP, Inc and Michael J Angelakis. The filing is available through the SEC website at this link.

Several other institutional investors have also bought and sold shares of the company. FMR LLC boosted its position in Virtusa by 0.3% in the fourth quarter. FMR LLC now owns 4,494,219 shares of the information technology services provider’s stock worth $112,894,000 after buying an additional 13,963 shares during the last quarter. Vanguard Group Inc. boosted its position in Virtusa by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,954,497 shares of the information technology services provider’s stock worth $59,065,000 after buying an additional 102,682 shares during the last quarter. BlackRock Fund Advisors boosted its position in Virtusa by 8.3% in the third quarter. BlackRock Fund Advisors now owns 1,873,209 shares of the information technology services provider’s stock worth $46,231,000 after buying an additional 142,994 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in Virtusa by 5.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,365,189 shares of the information technology services provider’s stock worth $34,293,000 after buying an additional 66,636 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in Virtusa by 38.1% in the first quarter. Frontier Capital Management Co. LLC now owns 859,185 shares of the information technology services provider’s stock worth $25,965,000 after buying an additional 237,129 shares during the last quarter. Hedge funds and other institutional investors own 93.20% of the company’s stock.

Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

Shares of Virtusa Co. (NASDAQ:VRTU) traded up 2.40% during trading on Friday, hitting $28.20. The company had a trading volume of 455,498 shares. The company’s 50 day moving average is $29.39 and its 200 day moving average is $26.93. Virtusa Co. has a 1-year low of $18.03 and a 1-year high of $36.02. The firm has a market capitalization of $840.16 million, a P/E ratio of 72.31 and a beta of 1.42.

Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The firm had revenue of $226 million during the quarter, compared to analysts’ expectations of $226.67 million. Virtusa had a return on equity of 4.32% and a net margin of 1.70%. Virtusa’s revenue for the quarter was up 31.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.55 earnings per share. Analysts anticipate that Virtusa Co. will post $1.58 earnings per share for the current fiscal year.

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VRTU has been the topic of a number of research analyst reports. Maxim Group cut Virtusa from a “buy” rating to a “hold” rating in a report on Thursday, March 9th. Needham & Company LLC increased their price target on Virtusa from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Cowen and Company upgraded Virtusa from a “market perform” rating to an “outperform” rating and set a $38.00 price target on the stock in a report on Friday, March 24th. Zacks Investment Research upgraded Virtusa from a “sell” rating to a “hold” rating in a report on Saturday, February 18th. Finally, SunTrust Banks, Inc. restated a “buy” rating and set a $32.00 price target (down from $34.00) on shares of Virtusa in a report on Friday. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $34.33.

In related news, Director Ronald T. Maheu sold 4,566 shares of the company’s stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $32.57, for a total value of $148,714.62. Following the sale, the director now directly owns 41,678 shares of the company’s stock, valued at $1,357,452.46. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Ronald T. Maheu sold 7,231 shares of the company’s stock in a transaction on Monday, February 27th. The stock was sold at an average price of $30.00, for a total value of $216,930.00. Following the completion of the sale, the director now directly owns 45,557 shares in the company, valued at $1,366,710. The disclosure for this sale can be found here. 9.92% of the stock is owned by corporate insiders.

About Virtusa

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.

12 Month Chart for NASDAQ:VRTU

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