Public Employees Retirement Association of Colorado maintained its stake in shares of Virtusa Corporation (NASDAQ:VRTU) during the second quarter, Holdings Channel reports. The institutional investor owned 188,000 shares of the information technology services provider’s stock at the end of the second quarter. Public Employees Retirement Association of Colorado’s holdings in Virtusa Corporation were worth $5,527,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of the stock. US Bancorp DE increased its position in shares of Virtusa Corporation by 10.3% in the second quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock valued at $103,000 after buying an additional 327 shares during the period. State of Alaska Department of Revenue increased its position in shares of Virtusa Corporation by 79.9% in 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 buying an additional 2,430 shares during the period. BNP Paribas Arbitrage SA increased its position in shares of Virtusa Corporation by 9.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,166 shares of the information technology services provider’s stock valued at $186,000 after buying an additional 522 shares during the period. Mason Street Advisors LLC increased its position in shares of Virtusa Corporation by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,445 shares of the information technology services provider’s stock valued at $195,000 after buying an additional 422 shares during the period. Finally, Atria Investments LLC bought a new position in shares of Virtusa Corporation during the first quarter valued at about $203,000. Institutional investors own 89.61% of the company’s stock.

Virtusa Corporation (NASDAQ VRTU) opened at 33.14 on Friday. The firm has a market capitalization of $998.14 million, a P/E ratio of 84.97 and a beta of 1.71. Virtusa Corporation has a 52-week low of $18.03 and a 52-week high of $34.92. The firm’s 50-day moving average is $31.05 and its 200-day moving average is $29.66.

Virtusa Corporation (NASDAQ:VRTU) last released its earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.02. Virtusa Corporation had a net margin of 1.38% and a return on equity of 3.50%. The business had revenue of $226 million during the quarter, compared to the consensus estimate of $226.67 million. During the same quarter in the prior year, the firm earned $0.55 EPS. The business’s revenue was up 31.5% on a year-over-year basis. On average, equities analysts expect that Virtusa Corporation will post $1.54 earnings per share for the current year.

Virtusa Corporation announced that its Board of Directors has approved a share buyback plan on Wednesday, May 3rd that permits the company to buyback $30.00 million in outstanding shares. This buyback authorization permits the information technology services provider to repurchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.

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Several brokerages recently issued reports on VRTU. Cowen and Company reiterated a “buy” rating and set a $36.00 price target on shares of Virtusa Corporation in a research report on Friday, July 28th. Maxim Group reiterated a “hold” rating on shares of Virtusa Corporation in a research report on Tuesday, May 16th. BidaskClub upgraded shares of Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. Zacks Investment Research upgraded shares of Virtusa Corporation from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 12th. Finally, SunTrust Banks, Inc. set a $32.00 price target on shares of Virtusa Corporation and gave the stock a “buy” rating in a research report on Friday, May 19th. Three investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $34.38.

In other news, CEO Kris A. Canekeratne sold 26,000 shares of Virtusa Corporation stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $28.63, for a total transaction of $744,380.00. Following the sale, the chief executive officer now directly owns 619,920 shares of the company’s stock, valued at $17,748,309.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa Corporation stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $33.63, for a total value of $403,560.00. Following the sale, the chief executive officer now directly owns 587,920 shares in the company, valued at $19,771,749.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 166,115 shares of company stock worth $4,818,066. Company insiders own 9.92% of the company’s stock.

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

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