Virtusa Co. (VRTU) Holdings Lowered by Barclays PLC
Barclays PLC trimmed its position in Virtusa Co. (NASDAQ:VRTU) by 44.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 21,559 shares of the information technology services provider’s stock after selling 16,934 shares during the quarter. Barclays PLC’s holdings in Virtusa were worth $918,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently made changes to their positions in VRTU. GW&K Investment Management LLC acquired a new position in shares of Virtusa in the fourth quarter worth about $24,231,000. FMR LLC boosted its holdings in shares of Virtusa by 12.2% in the third quarter. FMR LLC now owns 2,868,364 shares of the information technology services provider’s stock worth $154,060,000 after buying an additional 310,939 shares during the period. Portolan Capital Management LLC boosted its holdings in shares of Virtusa by 244.4% in the fourth quarter. Portolan Capital Management LLC now owns 241,021 shares of the information technology services provider’s stock worth $10,265,000 after buying an additional 171,034 shares during the period. Monarch Partners Asset Management LLC acquired a new position in shares of Virtusa in the fourth quarter worth about $6,792,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of Virtusa by 25.4% in the third quarter. Renaissance Technologies LLC now owns 536,800 shares of the information technology services provider’s stock worth $28,832,000 after buying an additional 108,599 shares during the period. Institutional investors own 88.58% of the company’s stock.
Several research analysts have commented on the stock. Barrington Research reiterated a “buy” rating and issued a $64.00 target price on shares of Virtusa in a report on Tuesday, January 29th. Zacks Investment Research upgraded shares of Virtusa from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. ValuEngine upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a report on Friday, November 30th. BidaskClub upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a report on Friday, March 15th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $62.00 price target on shares of Virtusa in a report on Friday, February 8th. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $60.83.
Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Thursday, February 7th. The information technology services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. The business had revenue of $314.68 million during the quarter, compared to analysts’ expectations of $313.32 million. Virtusa had a net margin of 0.89% and a return on equity of 11.39%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. As a group, analysts anticipate that Virtusa Co. will post 1.61 earnings per share for the current year.
In related news, CEO Kris A. Canekeratne sold 1,480 shares of the firm’s stock in a transaction that occurred on Friday, December 28th. The shares were sold at an average price of $41.16, for a total transaction of $60,916.80. Following the transaction, the chief executive officer now owns 683,907 shares of the company’s stock, valued at $28,149,612.12. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kris A. Canekeratne sold 10,520 shares of the firm’s stock in a transaction that occurred on Monday, December 31st. The shares were sold at an average price of $41.67, for a total transaction of $438,368.40. Following the transaction, the chief executive officer now directly owns 683,907 shares in the company, valued at approximately $28,498,404.69. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 230,944 shares of company stock worth $11,416,984. Insiders own 5.11% of the company’s stock.
Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.
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