Scout Investments Inc. raised its holdings in shares of Virtusa Co. (NASDAQ:VRTU) by 2.2% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 70,835 shares of the information technology services provider’s stock after buying an additional 1,503 shares during the period. Scout Investments Inc.’s holdings in Virtusa were worth $3,805,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of VRTU. Wells Fargo & Company MN boosted its holdings in Virtusa by 232.7% during the first quarter. Wells Fargo & Company MN now owns 142,163 shares of the information technology services provider’s stock worth $6,889,000 after buying an additional 99,427 shares in the last quarter. Schwab Charles Investment Management Inc. boosted its holdings in Virtusa by 1.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 136,372 shares of the information technology services provider’s stock worth $6,609,000 after buying an additional 2,024 shares in the last quarter. BlackRock Inc. boosted its holdings in Virtusa by 4.4% during the first quarter. BlackRock Inc. now owns 3,557,764 shares of the information technology services provider’s stock worth $172,407,000 after buying an additional 149,520 shares in the last quarter. New York State Common Retirement Fund boosted its holdings in Virtusa by 40.1% during the first quarter. New York State Common Retirement Fund now owns 60,968 shares of the information technology services provider’s stock worth $2,955,000 after buying an additional 17,441 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Virtusa by 5.9% during the first quarter. Principal Financial Group Inc. now owns 216,493 shares of the information technology services provider’s stock worth $10,491,000 after buying an additional 12,136 shares in the last quarter. Hedge funds and other institutional investors own 86.92% of the company’s stock.

In other Virtusa news, President Samir Dhir sold 4,000 shares of the stock in a transaction that occurred on Monday, August 13th. The shares were sold at an average price of $52.89, for a total value of $211,560.00. Following the completion of the sale, the president now owns 129,045 shares in the company, valued at approximately $6,825,190.05. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kris A. Canekeratne sold 3,000 shares of the stock in a transaction that occurred on Friday, August 17th. The stock was sold at an average price of $53.17, for a total transaction of $159,510.00. Following the completion of the sale, the chief executive officer now owns 722,691 shares of the company’s stock, valued at approximately $38,425,480.47. The disclosure for this sale can be found here. Company insiders own 5.11% of the company’s stock.

Virtusa stock opened at $52.23 on Friday. Virtusa Co. has a 52 week low of $34.79 and a 52 week high of $58.60. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.50 and a quick ratio of 2.50. The company has a market capitalization of $1.53 billion, a P/E ratio of 48.63, a PEG ratio of 1.62 and a beta of 1.25.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Wednesday, August 8th. The information technology services provider reported $0.50 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. Virtusa had a negative net margin of 0.80% and a positive return on equity of 7.38%. The firm had revenue of $300.00 million during the quarter, compared to analyst estimates of $298.00 million. During the same quarter last year, the business posted $0.25 EPS. The company’s revenue was up 32.0% on a year-over-year basis. Equities analysts forecast that Virtusa Co. will post 1.59 EPS for the current year.

A number of equities analysts recently commented on the stock. Needham & Company LLC raised their price objective on shares of Virtusa from $65.00 to $68.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 9th. Cantor Fitzgerald raised their price objective on shares of Virtusa from $60.00 to $62.00 and gave the stock an “overweight” rating in a research note on Friday, August 10th. Wedbush raised their price objective on shares of Virtusa from $60.00 to $70.00 and gave the stock an “outperform” rating in a research note on Friday, August 31st. SunTrust Banks raised their price objective on shares of Virtusa to $56.00 and gave the stock a “hold” rating in a research note on Monday, August 13th. Finally, Barrington Research reaffirmed a “buy” rating and issued a $55.00 price objective on shares of Virtusa in a research note on Thursday, August 2nd. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $62.00.

Virtusa Profile

Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

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Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

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