Virtusa Corp. (VRTU) Shares Sold by Macquarie Group Ltd.
Macquarie Group Ltd. lowered its position in Virtusa Corp. (NASDAQ:VRTU) by 94.2% during the second quarter, Holdings Channel reports. The firm owned 5,200 shares of the company’s stock after selling 84,695 shares during the period. Macquarie Group Ltd.’s holdings in Virtusa Corp. were worth $150,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. FMR LLC boosted its position in shares of Virtusa Corp. by 38.8% in the second quarter. FMR LLC now owns 4,488,600 shares of the company’s stock valued at $129,631,000 after buying an additional 1,254,584 shares during the last quarter. Waddell & Reed Financial Inc. raised its stake in Virtusa Corp. by 35.8% in the second quarter. Waddell & Reed Financial Inc. now owns 2,571,741 shares of the company’s stock valued at $74,271,000 after buying an additional 677,285 shares during the period. Vanguard Group Inc. raised its stake in Virtusa Corp. by 2.0% in the second quarter. Vanguard Group Inc. now owns 1,702,782 shares of the company’s stock valued at $49,177,000 after buying an additional 33,707 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Virtusa Corp. by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 676,876 shares of the company’s stock valued at $19,548,000 after buying an additional 5,326 shares during the period. Finally, State Street Corp raised its stake in Virtusa Corp. by 1.0% in the second quarter. State Street Corp now owns 562,837 shares of the company’s stock valued at $16,255,000 after buying an additional 5,795 shares during the period. 85.76% of the stock is currently owned by institutional investors.
Virtusa Corp. (NASDAQ:VRTU) opened at 22.83 on Wednesday. The company has a market cap of $681.91 million, a P/E ratio of 24.08 and a beta of 1.42. Virtusa Corp. has a 52 week low of $20.74 and a 52 week high of $59.40. The stock has a 50 day moving average of $24.40 and a 200 day moving average of $30.43.
Virtusa Corp. (NASDAQ:VRTU) last released its earnings results on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The firm earned $205.50 million during the quarter, compared to analyst estimates of $203.82 million. Virtusa Corp. had a net margin of 4.24% and a return on equity of 7.38%. The business’s revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the business earned $0.48 EPS. On average, analysts expect that Virtusa Corp. will post $1.63 earnings per share for the current year.
Several equities research analysts have commented on VRTU shares. Zacks Investment Research upgraded shares of Virtusa Corp. from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 19th. Cantor Fitzgerald set a $28.00 price objective on shares of Virtusa Corp. and gave the company a “buy” rating in a research note on Sunday, September 11th. TheStreet lowered shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Maxim Group reiterated a “buy” rating and issued a $42.00 price objective (down from $46.00) on shares of Virtusa Corp. in a research note on Wednesday, June 29th. Finally, Wedbush began coverage on shares of Virtusa Corp. in a report on Thursday, September 8th. They issued a “neutral” rating and a $29.00 price target for the company. One research analyst has rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $38.22.
In other news, Director Ronald T. Maheu sold 3,423 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $26.25, for a total value of $89,853.75. Following the completion of the sale, the director now owns 40,533 shares in the company, valued at approximately $1,063,991.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kris A. Canekeratne sold 24,000 shares of the firm’s stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $26.01, for a total transaction of $624,240.00. Following the completion of the sale, the chief executive officer now owns 826,133 shares of the company’s stock, valued at approximately $21,487,719.33. The disclosure for this sale can be found here. 9.92% of the stock is currently owned by insiders.
About Virtusa Corp.
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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