Virtusa Corporation (VRTU) Holdings Trimmed by Legato Capital Management LLC
Legato Capital Management LLC lessened its holdings in Virtusa Corporation (NASDAQ:VRTU) by 35.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,409 shares of the information technology services provider’s stock after selling 8,400 shares during the quarter. Legato Capital Management LLC owned 0.05% of Virtusa Corporation worth $582,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of Virtusa Corporation by 120,287.9% during the first quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock worth $100,993,000 after purchasing an additional 3,339,191 shares during the period. Morgan Stanley lifted its holdings in Virtusa Corporation by 548.1% in the first quarter. Morgan Stanley now owns 560,515 shares of the information technology services provider’s stock valued at $16,938,000 after acquiring an additional 474,032 shares during the period. Citigroup Inc. lifted its holdings in Virtusa Corporation by 14.4% in the second quarter. Citigroup Inc. now owns 29,400 shares of the information technology services provider’s stock valued at $864,000 after acquiring an additional 3,711 shares during the period. Russell Investments Group Ltd. lifted its holdings in Virtusa Corporation by 5.0% in the second quarter. Russell Investments Group Ltd. now owns 213,010 shares of the information technology services provider’s stock valued at $6,263,000 after acquiring an additional 10,220 shares during the period. Finally, Unterberg Capital LLC acquired a new position in Virtusa Corporation in the second quarter valued at approximately $2,940,000. 91.47% of the stock is owned by hedge funds and other institutional investors.
In other Virtusa Corporation news, CEO Kris A. Canekeratne sold 22,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $37.96, for a total transaction of $835,120.00. Following the transaction, the chief executive officer now owns 577,491 shares in the company, valued at approximately $21,921,558.36. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raj Rajgopal sold 27,526 shares of the company’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $34.76, for a total transaction of $956,803.76. Following the transaction, the insider now owns 122,708 shares in the company, valued at approximately $4,265,330.08. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,852 shares of company stock worth $3,975,663. 5.96% of the stock is currently owned by company insiders.
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Shares of Virtusa Corporation (VRTU) traded down $0.04 on Friday, hitting $37.46. The company had a trading volume of 53,136 shares, compared to its average volume of 135,435. The stock has a market capitalization of $1.10 billion, a PE ratio of 47.67, a price-to-earnings-growth ratio of 1.89 and a beta of 1.66. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. Virtusa Corporation has a 52-week low of $18.03 and a 52-week high of $39.07.
Virtusa Corporation (NASDAQ:VRTU) last announced its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. The company had revenue of $227.30 million for the quarter, compared to analysts’ expectations of $224.46 million. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. Virtusa Corporation’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.18 EPS. sell-side analysts predict that Virtusa Corporation will post 1 EPS for the current year.
A number of research analysts have issued reports on the company. Cowen and Company reissued a “buy” rating and issued a $37.00 price target on shares of Virtusa Corporation in a report on Thursday, October 12th. Zacks Investment Research downgraded Virtusa Corporation from a “hold” rating to a “sell” rating in a report on Thursday, September 14th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target (up from $38.00) on shares of Virtusa Corporation in a report on Saturday, August 19th. Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 price target on shares of Virtusa Corporation in a report on Friday, August 11th. Finally, Barrington Research boosted their price objective on Virtusa Corporation from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $37.13.
About Virtusa Corporation
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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