Kirr Marbach & Co. LLC IN increased its position in shares of Virtusa Corporation (NASDAQ:VRTU) by 63.5% during the second quarter, Holdings Channel reports. The fund owned 17,410 shares of the information technology services provider’s stock after buying an additional 6,760 shares during the period. Kirr Marbach & Co. LLC IN owned approximately 0.06% of Virtusa Corporation worth $512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Great West Life Assurance Co. Can raised its stake in shares of 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 worth $1,149,000 after buying an additional 1,087 shares during the period. Wells Fargo & Company MN raised its stake in shares of Virtusa Corporation by 19.4% in the first quarter. Wells Fargo & Company MN now owns 22,615 shares of the information technology services provider’s stock worth $684,000 after buying an additional 3,668 shares during the period. UMB Bank N A MO raised its stake in shares of Virtusa Corporation by 13.9% in the first quarter. UMB Bank N A MO now owns 11,500 shares of the information technology services provider’s stock worth $348,000 after buying an additional 1,400 shares during the period. Rice Hall James & Associates LLC raised its stake in shares of Virtusa Corporation by 38.1% in the first quarter. Rice Hall James & Associates LLC now owns 96,169 shares of the information technology services provider’s stock worth $2,906,000 after buying an additional 26,517 shares during the period. Finally, Louisiana State Employees Retirement System raised its stake in shares of Virtusa Corporation by 0.9% in the first quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the information technology services provider’s stock worth $338,000 after buying an additional 100 shares during the period. Institutional investors own 91.98% of the company’s stock.

Virtusa Corporation (VRTU) traded up 1.61% during midday trading on Wednesday, reaching $32.28. 21,632 shares of the company’s stock traded hands. The stock’s 50 day moving average price is $29.74 and its 200-day moving average price is $29.19. The stock has a market cap of $972.24 million, a PE ratio of 82.77 and a beta of 1.69. Virtusa Corporation has a one year low of $18.03 and a one year high of $34.92.

Virtusa Corporation (NASDAQ:VRTU) last posted its quarterly earnings data on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.02. Virtusa Corporation had a net margin of 1.38% and a return on equity of 3.50%. The company had revenue of $226 million for the quarter, compared to analysts’ expectations of $226.67 million. During the same period in the previous year, the firm earned $0.55 earnings per share. The firm’s quarterly revenue was up 31.5% on a year-over-year basis. Equities analysts predict that Virtusa Corporation will post $1.54 earnings per share for the current year.

Virtusa Corporation declared that its board has approved a share buyback program on Wednesday, May 3rd that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s management believes its shares are undervalued.

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Several research firms have recently issued reports on VRTU. Zacks Investment Research lowered shares of Virtusa Corporation from a “hold” rating to a “strong sell” rating in a research note on Thursday, April 6th. Cowen and Company raised shares of Virtusa Corporation 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. BidaskClub downgraded shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Saturday, July 8th. ValuEngine raised shares of Virtusa Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Barrington Research set a $35.00 price target on shares of Virtusa Corporation and gave the stock a “buy” rating in a report on Thursday, May 25th. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $34.63.

In related news, CEO Kris A. Canekeratne sold 74,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The stock was sold at an average price of $28.76, for a total value of $2,128,240.00. Following the transaction, the chief executive officer now directly owns 780,315 shares of the company’s stock, valued at approximately $22,441,859.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas R. Holler sold 29,873 shares of the business’s stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $28.00, for a total value of $836,444.00. Following the completion of the transaction, the executive vice president now directly owns 45,716 shares in the company, valued at $1,280,048. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 154,115 shares of company stock worth $4,414,506. Insiders own 9.92% of the company’s stock.

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

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