Virtusa Corporation (VRTU) Holdings Trimmed by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lessened its holdings in shares of Virtusa Corporation (NASDAQ:VRTU) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,981 shares of the information technology services provider’s stock after selling 133 shares during the quarter. The Manufacturers Life Insurance Company owned 0.08% of Virtusa Corporation worth $647,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Aperio Group LLC grew its stake in Virtusa Corporation by 0.6% during the 2nd quarter. Aperio Group LLC now owns 9,836 shares of the information technology services provider’s stock valued at $289,000 after purchasing an additional 60 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Virtusa Corporation by 0.9% during the 2nd quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 100 shares in the last quarter. Arizona State Retirement System grew its stake in Virtusa Corporation by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 14,455 shares of the information technology services provider’s stock valued at $425,000 after purchasing an additional 100 shares in the last quarter. Municipal Employees Retirement System of Michigan grew its stake in Virtusa Corporation by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock valued at $191,000 after purchasing an additional 260 shares in the last quarter. Finally, Texas Permanent School Fund grew its stake in Virtusa Corporation by 1.4% during the 2nd quarter. Texas Permanent School Fund now owns 20,231 shares of the information technology services provider’s stock valued at $595,000 after purchasing an additional 276 shares in the last quarter. Hedge funds and other institutional investors own 90.02% of the company’s stock.

A number of equities research analysts have weighed in on VRTU shares. Cantor Fitzgerald restated a “buy” rating and set a $37.00 price objective on shares of Virtusa Corporation in a research note on Sunday, November 5th. Cowen and Company reiterated a “buy” rating and issued a $37.00 target price on shares of Virtusa Corporation in a research report on Thursday, October 12th. Barrington Research lifted their target price on Virtusa Corporation to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Maxim Group upgraded Virtusa Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research report on Wednesday, November 8th. Finally, BidaskClub upgraded Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $45.00.

ILLEGAL ACTIVITY NOTICE: “Virtusa Corporation (VRTU) Holdings Trimmed by The Manufacturers Life Insurance Company” was first published by Sports Perspectives and is owned by of Sports Perspectives. If you are accessing this piece of content on another domain, it was stolen and republished in violation of U.S. and international copyright and trademark law. The correct version of this piece of content can be viewed at https://sportsperspectives.com/2017/11/21/virtusa-corporation-vrtu-holdings-trimmed-by-the-manufacturers-life-insurance-company.html.

In related news, insider Raj Rajgopal sold 4,025 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The stock was sold at an average price of $36.05, for a total transaction of $145,101.25. Following the completion of the transaction, the insider now owns 107,216 shares in the company, valued at approximately $3,865,136.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $46.04, for a total value of $552,480.00. Following the transaction, the chief executive officer now owns 559,491 shares of the company’s stock, valued at approximately $25,758,965.64. The disclosure for this sale can be found here. Insiders have sold a total of 106,351 shares of company stock valued at $4,211,925 in the last 90 days. Insiders own 5.96% of the company’s stock.

Virtusa Corporation (NASDAQ:VRTU) opened at $47.56 on Tuesday. The company has a market capitalization of $1,380.00, a P/E ratio of 53.11, a PEG ratio of 2.25 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.03. Virtusa Corporation has a 12-month low of $19.50 and a 12-month high of $48.15.

Virtusa Corporation (NASDAQ:VRTU) last issued its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Virtusa Corporation had a return on equity of 4.86% and a net margin of 2.54%. The company had revenue of $248.20 million during the quarter, compared to analyst estimates of $237.48 million. During the same quarter last year, the firm earned $0.27 EPS. The business’s revenue was up 18.1% on a year-over-year basis. research analysts expect that Virtusa Corporation will post 1.04 earnings per share for the current 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.

Want to see what other hedge funds are holding VRTU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Virtusa Corporation (NASDAQ:VRTU).

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

Receive News & Ratings for Virtusa Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply