Alliancebernstein L.P. Acquires 52,710 Shares of Virtusa Corporation (VRTU)
Alliancebernstein L.P. lifted its holdings in shares of Virtusa Corporation (NASDAQ:VRTU) by 10.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 557,343 shares of the information technology services provider’s stock after buying an additional 52,710 shares during the quarter. Alliancebernstein L.P. owned about 1.85% of Virtusa Corporation worth $16,386,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in the stock. BlackRock Inc. increased its holdings in Virtusa Corporation by 120,287.9% during the 1st quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock worth $100,993,000 after acquiring an additional 3,339,191 shares during the period. Morgan Stanley increased its holdings in shares of Virtusa Corporation by 548.1% in the 1st quarter. Morgan Stanley now owns 560,515 shares of the information technology services provider’s stock worth $16,938,000 after buying an additional 474,032 shares during the last quarter. Mesirow Financial Investment Management Equity Management bought a new position in shares of Virtusa Corporation in the 2nd quarter worth $6,899,000. Wellington Management Group LLP bought a new position in shares of Virtusa Corporation in the 1st quarter worth $7,003,000. Finally, Frontier Capital Management Co. LLC increased its holdings in shares of Virtusa Corporation by 23.7% in the 2nd quarter. Frontier Capital Management Co. LLC now owns 1,062,888 shares of the information technology services provider’s stock worth $31,249,000 after buying an additional 203,703 shares during the last quarter. Institutional investors own 92.06% of the company’s stock.
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A number of equities analysts have recently commented on the stock. Zacks Investment Research lowered shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 target price (up previously from $38.00) on shares of Virtusa Corporation in a report on Saturday, August 19th. Cantor Fitzgerald reissued a “buy” rating and set a $37.00 price target on shares of Virtusa Corporation in a research report on Friday, August 11th. Cowen and Company reissued a “buy” rating and set a $36.00 price target on shares of Virtusa Corporation in a research report on Friday, July 28th. Finally, BidaskClub raised shares of Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $37.00.
Virtusa Corporation (VRTU) opened at 36.60 on Friday. The firm’s 50-day moving average is $35.27 and its 200 day moving average is $31.48. The stock has a market cap of $1.07 billion, a P/E ratio of 52.97 and a beta of 1.67. Virtusa Corporation has a one year low of $18.03 and a one year high of $37.66.
Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.16 by $0.09. The business had revenue of $227.30 million for the quarter, compared to analysts’ expectations of $224.46 million. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the company earned $0.18 EPS. On average, analysts anticipate that Virtusa Corporation will post $1.53 EPS for the current fiscal year.
In other news, Director Trust Martin sold 12,255 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $35.31, for a total transaction of $432,724.05. Following the sale, the director now owns 9,397 shares of the company’s stock, valued at approximately $331,808.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kris A. Canekeratne sold 789 shares of the firm’s stock in a transaction that occurred on Monday, September 18th. The stock was sold at an average price of $36.09, for a total transaction of $28,475.01. Following the sale, the chief executive officer now directly owns 594,702 shares in the company, valued at approximately $21,462,795.18. The disclosure for this sale can be found here. Insiders have sold a total of 84,616 shares of company stock worth $2,982,360 in the last ninety days. Corporate insiders own 5.96% of the company’s stock.
Virtusa Corporation 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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