Virtusa Corporation (VRTU) Shares Sold by New York State Common Retirement Fund
New York State Common Retirement Fund lowered its stake in Virtusa Corporation (NASDAQ:VRTU) by 0.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,200 shares of the information technology services provider’s stock after selling 1 shares during the quarter. New York State Common Retirement Fund owned about 0.10% of Virtusa Corporation worth $858,000 at the end of the most recent quarter.
Other hedge funds also recently bought and sold shares of the company. US Bancorp DE lifted its holdings in Virtusa Corporation by 10.3% in 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 during the period. SG Americas Securities LLC acquired a new stake in Virtusa Corporation in the second quarter worth about $120,000. State of Alaska Department of Revenue lifted its holdings in Virtusa Corporation by 79.9% in the second quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock worth $160,000 after purchasing an additional 2,430 shares during the period. Municipal Employees Retirement System of Michigan lifted its holdings in Virtusa Corporation by 4.2% in 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 during the period. Finally, Gargoyle Investment Advisor L.L.C. acquired a new stake in Virtusa Corporation in the second quarter worth about $221,000. 93.05% of the stock is owned by institutional investors and hedge funds.
In other Virtusa Corporation news, 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 completion of the sale, the insider now directly owns 122,708 shares of the company’s stock, valued at $4,265,330.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, 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 sale, the chief executive officer now directly owns 577,491 shares of the company’s stock, valued at $21,921,558.36. The disclosure for this sale can be found here. Insiders have sold 109,852 shares of company stock valued at $3,975,663 over the last ninety days. Insiders own 5.96% of the company’s stock.
Several equities research analysts recently weighed in on VRTU shares. Zacks Investment Research raised shares of Virtusa Corporation from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a report on Wednesday, July 19th. Cowen and Company reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Virtusa Corporation in a report on Thursday, October 12th. BidaskClub raised shares of Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. 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. Finally, 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. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.13.
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Shares of Virtusa Corporation (NASDAQ:VRTU) opened at $37.46 on Monday. Virtusa Corporation has a 1-year low of $18.03 and a 1-year high of $39.07. The company has a debt-to-equity ratio of 0.19, a current ratio of 4.26 and a quick ratio of 4.26. The firm has a market cap of $1,096.45, a PE ratio of 47.42, a price-to-earnings-growth ratio of 1.88 and a beta of 1.66.
Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.09. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The company had revenue of $227.30 million during the quarter, compared to the consensus estimate of $224.46 million. During the same period in the prior year, the company earned $0.18 EPS. Virtusa Corporation’s revenue was up 10.6% on a year-over-year basis. equities research analysts anticipate that Virtusa Corporation will post 1 earnings per share for the current fiscal year.
Virtusa Corporation 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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