Public Employees Retirement Association of Colorado lifted its holdings in shares of Virtusa Co. (NASDAQ:VRTU) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 326,165 shares of the information technology services provider’s stock after acquiring an additional 36,082 shares during the quarter. Public Employees Retirement Association of Colorado owned approximately 0.98% of Virtusa worth $14,492,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in VRTU. Hussman Strategic Advisors Inc. raised its stake in shares of Virtusa by 42.9% in the second quarter. Hussman Strategic Advisors Inc. now owns 50,000 shares of the information technology services provider’s stock worth $2,222,000 after buying an additional 15,000 shares during the period. Financial Gravity Wealth Inc. bought a new position in shares of Virtusa in the second quarter worth about $56,000. Rothschild & Co. Asset Management US Inc. raised its stake in shares of Virtusa by 8.8% in the second quarter. Rothschild & Co. Asset Management US Inc. now owns 177,959 shares of the information technology services provider’s stock worth $7,907,000 after buying an additional 14,418 shares during the period. Arizona State Retirement System raised its stake in shares of Virtusa by 1.3% in the second quarter. Arizona State Retirement System now owns 43,029 shares of the information technology services provider’s stock worth $1,912,000 after buying an additional 564 shares during the period. Finally, Campbell Newman Asset Management Inc. raised its stake in shares of Virtusa by 7.2% in the second quarter. Campbell Newman Asset Management Inc. now owns 10,801 shares of the information technology services provider’s stock worth $480,000 after buying an additional 723 shares during the period. Institutional investors own 79.55% of the company’s stock.

Several analysts recently issued reports on the company. Needham & Company LLC reissued a “strong-buy” rating and set a $60.00 target price on shares of Virtusa in a research note on Thursday, May 16th. ValuEngine downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. Cantor Fitzgerald reissued an “overweight” rating and set a $56.00 target price (down previously from $62.00) on shares of Virtusa in a research note on Thursday, May 16th. Wedbush reissued an “outperform” rating and set a $60.00 target price (down previously from $70.00) on shares of Virtusa in a research note on Thursday, May 16th. Finally, Barrington Research reissued an “outperform” rating and set a $60.00 target price (down previously from $64.00) on shares of Virtusa in a research note on Monday. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $56.17.

NASDAQ:VRTU opened at $33.50 on Thursday. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.90. Virtusa Co. has a 1 year low of $31.99 and a 1 year high of $58.60. The business has a 50 day moving average price of $43.04. The company has a market cap of $1.01 billion, a P/E ratio of 22.94, a price-to-earnings-growth ratio of 0.83 and a beta of 1.16.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $0.41 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.01. Virtusa had a return on equity of 11.85% and a net margin of 2.23%. The business had revenue of $319.00 million for the quarter, compared to the consensus estimate of $317.59 million. During the same quarter in the previous year, the company posted $0.50 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts expect that Virtusa Co. will post 1.93 EPS for the current fiscal year.

In related news, Director Joseph Doody bought 5,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was purchased at an average price of $42.50 per share, for a total transaction of $212,500.00. Following the acquisition, the director now owns 14,684 shares in the company, valued at $624,070. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 7,500 shares of Virtusa stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $44.19, for a total value of $331,425.00. Following the completion of the transaction, the chief executive officer now owns 723,926 shares of the company’s stock, valued at approximately $31,990,289.94. The disclosure for this sale can be found here. Insiders own 4.73% of the company’s stock.

Virtusa Company 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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