Parametric Portfolio Associates LLC Has $2.24 Million Holdings in Virtusa Corporation (VRTU)
Parametric Portfolio Associates LLC grew its holdings in shares of Virtusa Corporation (NASDAQ:VRTU) by 39.5% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 76,029 shares of the information technology services provider’s stock after purchasing an additional 21,544 shares during the period. Parametric Portfolio Associates LLC owned approximately 0.25% of Virtusa Corporation worth $2,235,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also modified their holdings of VRTU. BlackRock Inc. increased 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 valued at $100,993,000 after purchasing an additional 3,339,191 shares during the period. Morgan Stanley increased its holdings in shares of Virtusa Corporation by 548.1% during the first quarter. Morgan Stanley now owns 560,515 shares of the information technology services provider’s stock valued at $16,938,000 after purchasing an additional 474,032 shares during the period. Mesirow Financial Investment Management Equity Management acquired a new position in shares of Virtusa Corporation during the second quarter valued at $6,899,000. Frontier Capital Management Co. LLC increased its holdings in shares of Virtusa Corporation by 23.7% during the second quarter. Frontier Capital Management Co. LLC now owns 1,062,888 shares of the information technology services provider’s stock valued at $31,249,000 after purchasing an additional 203,703 shares during the period. Finally, Northern Trust Corp increased its holdings in shares of Virtusa Corporation by 48.6% during the second quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock valued at $17,309,000 after purchasing an additional 192,475 shares during the period. 93.05% of the stock is currently owned by institutional investors.
Virtusa Corporation (VRTU) opened at $37.61 on Wednesday. The stock has a market capitalization of $1,100.00, a PE ratio of 47.42, a P/E/G ratio of 1.88 and a beta of 1.66. Virtusa Corporation has a fifty-two week low of $18.03 and a fifty-two week high of $39.07. The company has a current ratio of 4.26, a quick ratio of 4.26 and a debt-to-equity ratio of 0.19.
Virtusa Corporation (NASDAQ:VRTU) last released its earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. The firm had revenue of $227.30 million for the quarter, compared to analyst estimates of $224.46 million. Virtusa Corporation had a return on equity of 4.26% and a net margin of 2.47%. Virtusa Corporation’s revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.18 earnings per share. analysts anticipate that Virtusa Corporation will post 1 EPS for the current year.
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VRTU has been the topic of a number of research analyst reports. Zacks Investment Research raised Virtusa Corporation from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a report on Wednesday, July 19th. BidaskClub raised Virtusa Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Cowen and Company reissued a “buy” rating and set a $36.00 price target on shares of Virtusa Corporation in a report on Friday, July 28th. Cantor Fitzgerald reissued a “buy” rating and set a $37.00 price target on shares of Virtusa Corporation in a report on Friday, August 11th. Finally, Needham & Company LLC reissued a “buy” rating and set a $38.00 price target on shares of Virtusa Corporation in a report on Thursday, August 10th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $37.13.
In related news, CEO Kris A. Canekeratne sold 22,000 shares of Virtusa Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $37.96, for a total transaction of $835,120.00. Following the transaction, the chief executive officer now directly owns 577,491 shares of the company’s stock, valued at $21,921,558.36. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Raj Rajgopal sold 4,025 shares of Virtusa Corporation stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $38.01, for a total value of $152,990.25. Following the transaction, the insider now directly owns 108,576 shares in the company, valued at $4,126,973.76. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 109,852 shares of company stock worth $3,975,663. 5.96% of the stock is owned by corporate insiders.
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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