AMI Asset Management Corp cut its holdings in Virtusa Co. (NASDAQ:VRTU) by 1.6% during the fourth quarter, HoldingsChannel reports. The firm owned 247,289 shares of the information technology services provider’s stock after selling 4,118 shares during the quarter. AMI Asset Management Corp’s holdings in Virtusa were worth $10,900,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in Virtusa in the 2nd quarter worth approximately $120,000. Victory Capital Management Inc. bought a new stake in Virtusa in the 3rd quarter worth approximately $130,000. Piedmont Investment Advisors LLC bought a new stake in Virtusa in the 3rd quarter worth approximately $224,000. Trexquant Investment LP bought a new stake in Virtusa in the 3rd quarter worth approximately $247,000. Finally, BNP Paribas Arbitrage SA increased its stake in Virtusa by 42.8% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 8,805 shares of the information technology services provider’s stock worth $259,000 after acquiring an additional 2,639 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.
A number of analysts have issued reports on the company. BidaskClub downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. TheStreet raised Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. SunTrust Banks reaffirmed a “buy” rating and issued a $52.00 price objective on shares of Virtusa in a research note on Friday, November 10th. Zacks Investment Research raised Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Saturday. Finally, Maxim Group raised 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. Two investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Virtusa has a consensus rating of “Buy” and an average price target of $49.25.
Virtusa (NASDAQ:VRTU) last released its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.11. The firm had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. Virtusa had a return on equity of 4.86% and a net margin of 2.54%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 EPS. analysts forecast that Virtusa Co. will post 1.04 earnings per share for the current year.
In other news, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $46.12, for a total transaction of $553,440.00. Following the transaction, the chief executive officer now owns 553,491 shares of the company’s stock, valued at approximately $25,527,004.92. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert E. Davoli sold 1,505 shares of the business’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $45.31, for a total value of $68,191.55. Following the transaction, the director now directly 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 three months, insiders have sold 77,580 shares of company stock worth $3,523,204. Corporate insiders own 5.96% of the company’s stock.
Virtusa Company 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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