State of Tennessee Treasury Department cut its holdings in shares of Virtusa Co. (NASDAQ:VRTU) by 5.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 23,484 shares of the information technology services provider’s stock after selling 1,484 shares during the period. State of Tennessee Treasury Department owned about 0.08% of Virtusa worth $887,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. US Bancorp DE lifted its position in Virtusa by 10.3% during the second quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock valued at $103,000 after purchasing an additional 327 shares during the period. SG Americas Securities LLC acquired a new position in Virtusa during the second quarter valued at $120,000. Victory Capital Management Inc. acquired a new position in Virtusa during the third quarter valued at $130,000. State of Alaska Department of Revenue lifted its position in Virtusa by 79.9% during the second quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock valued at $160,000 after purchasing an additional 2,430 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its position in Virtusa by 4.2% during the second 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 during the period. Institutional investors own 90.02% of the company’s stock.

A number of research analysts recently issued reports on VRTU shares. Cantor Fitzgerald restated a “buy” rating and set a $37.00 target price on shares of Virtusa in a research report on Sunday, November 5th. Cowen Inc reaffirmed a “buy” rating and issued a $37.00 price objective on shares of Virtusa in a report on Thursday, October 12th. Barrington Research lifted their price objective on shares of Virtusa to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Maxim Group raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, November 8th. Finally, Needham & Company LLC lifted their price objective on shares of Virtusa to $55.00 and gave the company a “buy” rating in a report on Friday, November 17th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $45.00.

Virtusa Co. (NASDAQ:VRTU) opened at $47.65 on Monday. Virtusa Co. has a fifty-two week low of $21.30 and a fifty-two week high of $48.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.03. The firm has a market cap of $1,400.00, a price-to-earnings ratio of 54.15, a price-to-earnings-growth ratio of 2.29 and a beta of 1.66.

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

In other news, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $46.04, for a total transaction of $552,480.00. Following the completion of the sale, the chief executive officer now owns 559,491 shares of the company’s stock, valued at $25,758,965.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kris A. Canekeratne sold 10,000 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $45.06, for a total transaction of $450,600.00. Following the sale, the chief executive officer now directly owns 571,491 shares of the company’s stock, valued at approximately $25,751,384.46. The disclosure for this sale can be found here. Insiders have sold 103,410 shares of company stock valued at $4,107,843 in the last three months. Corporate insiders own 5.96% of the company’s stock.

WARNING: This news story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international copyright and trademark law. The original version of this news story can be read at https://www.thecerbatgem.com/2017/11/27/state-of-tennessee-treasury-department-lowers-stake-in-virtusa-co-vrtu.html.

Virtusa 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 Co. (NASDAQ:VRTU).

Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

Receive News & Stock Ratings for Virtusa Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Co. and related stocks with our FREE daily email newsletter.