Piedmont Investment Advisors LLC bought a new stake in Virtusa Co. (NASDAQ:VRTU) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 5,930 shares of the information technology services provider’s stock, valued at approximately $224,000.

A number of other institutional investors have also recently modified their holdings of VRTU. Teachers Advisors LLC lifted its stake in shares of Virtusa by 4.0% during the first quarter. Teachers Advisors LLC now owns 47,470 shares of the information technology services provider’s stock worth $1,435,000 after purchasing an additional 1,818 shares in the last quarter. Aperio Group LLC lifted its stake in shares of Virtusa by 0.6% during the second quarter. Aperio Group LLC now owns 9,836 shares of the information technology services provider’s stock worth $289,000 after purchasing an additional 60 shares in the last quarter. US Bancorp DE lifted its stake in shares of Virtusa by 10.3% during the second quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 327 shares in the last quarter. Russell Investments Group Ltd. lifted its stake in shares of Virtusa by 5.0% during the second quarter. Russell Investments Group Ltd. now owns 213,010 shares of the information technology services provider’s stock worth $6,263,000 after purchasing an additional 10,220 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan lifted its stake in shares of Virtusa by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after purchasing an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

Virtusa Co. (NASDAQ:VRTU) opened at $45.01 on Monday. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.18. Virtusa Co. has a one year low of $24.26 and a one year high of $48.71. The company has a market capitalization of $1,321.72, a PE ratio of 51.15, a P/E/G ratio of 2.16 and a beta of 1.71.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.11. Virtusa had a return on equity of 4.86% and a net margin of 2.54%. The business had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $237.48 million. During the same quarter in the previous year, the firm posted $0.27 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. analysts forecast that Virtusa Co. will post 1.04 EPS for the current year.

In related news, CEO Kris A. Canekeratne sold 11,211 shares of the business’s stock in a transaction dated Monday, September 25th. The stock was sold at an average price of $36.46, for a total value of $408,753.06. Following the transaction, the chief executive officer now owns 589,491 shares in the company, valued at $21,492,841.86. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Davoli sold 1,505 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $45.31, for a total value of $68,191.55. Following the completion of the transaction, the director now owns 9,996 shares in the company, valued at approximately $452,918.76. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,791 shares of company stock worth $3,737,518. Insiders own 5.96% of the company’s stock.

VRTU has been the topic of a number of recent research reports. Maxim Group upgraded Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price objective on the stock in a research note on Wednesday, November 8th. Needham & Company LLC boosted their price objective on Virtusa to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. TheStreet upgraded Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Cowen restated a “buy” rating and set a $55.00 price objective on shares of Virtusa in a research note on Thursday. Finally, Cantor Fitzgerald restated a “buy” rating and set a $37.00 price objective on shares of Virtusa in a research note on Sunday, November 5th. Two investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $47.25.

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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.

Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

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