SG Americas Securities LLC Purchases New Position in Virtusa Corporation (VRTU)
SG Americas Securities LLC purchased a new position in shares of Virtusa Corporation (NASDAQ:VRTU) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 4,079 shares of the information technology services provider’s stock, valued at approximately $120,000.
Several other institutional investors have also modified their holdings of the company. Gargoyle Investment Advisor L.L.C. purchased a new position in shares of Virtusa Corporation during the 2nd quarter worth $221,000. Rhumbline Advisers lifted its stake in shares of Virtusa Corporation by 2.9% during the 2nd quarter. Rhumbline Advisers now owns 54,201 shares of the information technology services provider’s stock valued at $1,594,000 after buying an additional 1,523 shares in the last quarter. Arizona State Retirement System lifted its stake in shares of Virtusa Corporation by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 14,455 shares of the information technology services provider’s stock valued at $425,000 after buying an additional 100 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in shares of Virtusa Corporation by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 118,351 shares of the information technology services provider’s stock valued at $3,480,000 after buying an additional 1,324 shares in the last quarter. Finally, Mesirow Financial Investment Management Equity Management purchased a new position in shares of Virtusa Corporation during the 2nd quarter valued at $6,899,000. Institutional investors and hedge funds own 92.06% of the company’s stock.
In other Virtusa Corporation news, Director Trust Martin sold 3,080 shares of the stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $35.55, for a total transaction of $109,494.00. Following the transaction, the director now directly owns 22,716 shares of the company’s stock, valued at $807,553.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $33.63, for a total transaction of $403,560.00. Following the transaction, 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 90 days, insiders have sold 84,616 shares of company stock worth $2,982,360. 5.96% of the stock is owned by company insiders.
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A number of research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Virtusa Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Needham & Company LLC restated a “buy” rating and set a $43.00 target price (up previously from $38.00) on shares of Virtusa Corporation in a research note on Saturday, August 19th. Cantor Fitzgerald restated a “buy” rating and set a $37.00 target price on shares of Virtusa Corporation in a research note on Friday, August 11th. Barrington Research lifted their target price on shares of Virtusa Corporation from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Finally, Maxim Group restated a “hold” rating on shares of Virtusa Corporation in a research note on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $37.00.
Virtusa Corporation (NASDAQ:VRTU) opened at 36.80 on Tuesday. The stock has a market cap of $1.08 billion, a PE ratio of 53.26 and a beta of 1.67. Virtusa Corporation has a 1-year low of $18.03 and a 1-year high of $37.66. The company’s 50 day moving average is $35.27 and its 200-day moving average is $31.48.
Virtusa Corporation (NASDAQ:VRTU) last released its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The company had revenue of $227.30 million for the quarter, compared to analyst estimates of $224.46 million. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business earned $0.18 earnings per share. Equities research analysts forecast that Virtusa Corporation will post $1.53 earnings per share for the current fiscal year.
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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