Metropolitan Life Insurance Co. NY held its position in shares of Virtusa Co. (NASDAQ:VRTU) during the first quarter, Holdings Channel reports. The institutional investor owned 17,491 shares of the information technology services provider’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Virtusa were worth $529,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. BlackRock Inc. boosted its position in shares of Virtusa by 120,287.9% in the first quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock worth $100,993,000 after buying an additional 3,339,191 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Virtusa by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,954,497 shares of the information technology services provider’s stock worth $59,065,000 after buying an additional 102,682 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Virtusa by 10.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,505,787 shares of the information technology services provider’s stock worth $45,504,000 after buying an additional 140,598 shares in the last quarter. Frontier Capital Management Co. LLC boosted its position in shares of Virtusa by 38.1% in the first quarter. Frontier Capital Management Co. LLC now owns 859,185 shares of the information technology services provider’s stock worth $25,965,000 after buying an additional 237,129 shares in the last quarter. Finally, State Street Corp boosted its position in shares of Virtusa by 5.2% in the first quarter. State Street Corp now owns 646,579 shares of the information technology services provider’s stock worth $19,539,000 after buying an additional 32,045 shares in the last quarter. 84.49% of the stock is currently owned by institutional investors.

Virtusa Co. (NASDAQ VRTU) traded up 0.80% during midday trading on Friday, reaching $35.30. 56,054 shares of the company traded hands. The stock has a market capitalization of $1.03 billion, a P/E ratio of 51.09 and a beta of 1.71. Virtusa Co. has a 12-month low of $18.03 and a 12-month high of $35.44. The company has a 50 day moving average of $31.72 and a 200-day moving average of $29.91.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The company had revenue of $227.30 million during the quarter, compared to analysts’ expectations of $224.46 million. Virtusa had a net margin of 2.04% and a return on equity of 2.43%. Virtusa’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.18 earnings per share. Equities analysts anticipate that Virtusa Co. will post $1.53 EPS for the current fiscal year.

Virtusa declared that its Board of Directors has approved a stock repurchase program on Wednesday, May 3rd that permits the company to repurchase $30.00 million in outstanding shares. This repurchase authorization permits the information technology services provider to repurchase up to 3.3% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s leadership believes its shares are undervalued.

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VRTU has been the topic of a number of recent analyst reports. Maxim Group reissued a “hold” rating on shares of Virtusa in a research report on Tuesday. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Sunday, July 16th. Zacks Investment Research raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Wednesday, July 19th. Barrington Research set a $35.00 price target on shares of Virtusa and gave the stock a “buy” rating in a research report on Thursday, May 25th. Finally, ValuEngine raised shares of Virtusa from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Three equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $35.00.

In other news, CEO Kris A. Canekeratne sold 74,000 shares of the business’s stock in a transaction that occurred on Friday, June 9th. The shares were sold at an average price of $28.76, for a total value of $2,128,240.00. Following the completion of the sale, the chief executive officer now directly owns 780,315 shares in the company, valued at approximately $22,441,859.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 26th. The stock was sold at an average price of $33.63, for a total transaction of $403,560.00. Following the completion of the sale, the chief executive officer now owns 587,920 shares of the company’s stock, valued at $19,771,749.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 166,115 shares of company stock valued at $4,818,066. Company 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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Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

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