Russell Investments Group Ltd. Has $4.51 Million Holdings in Virtusa Co. (VRTU)

Russell Investments Group Ltd. decreased its stake in Virtusa Co. (NASDAQ:VRTU) by 4.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 92,638 shares of the information technology services provider’s stock after selling 3,900 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.31% of Virtusa worth $4,509,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Wells Fargo & Company MN boosted its holdings in Virtusa by 232.7% in the 1st quarter. Wells Fargo & Company MN now owns 142,163 shares of the information technology services provider’s stock valued at $6,889,000 after purchasing an additional 99,427 shares during the period. Rhumbline Advisers boosted its holdings in Virtusa by 1.8% in the 1st quarter. Rhumbline Advisers now owns 64,211 shares of the information technology services provider’s stock valued at $3,112,000 after purchasing an additional 1,130 shares during the period. SG Americas Securities LLC bought a new stake in Virtusa in the 1st quarter valued at $107,000. Prudential Financial Inc. raised its stake in shares of Virtusa by 189.3% in the 1st quarter. Prudential Financial Inc. now owns 135,203 shares of the information technology services provider’s stock valued at $6,551,000 after buying an additional 88,472 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in shares of Virtusa by 1.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 136,372 shares of the information technology services provider’s stock valued at $6,609,000 after buying an additional 2,024 shares in the last quarter. Institutional investors and hedge funds own 86.80% of the company’s stock.

A number of equities analysts have recently issued reports on the stock. Cantor Fitzgerald increased their price objective on shares of Virtusa from $60.00 to $62.00 and gave the company an “overweight” rating in a research note on Friday, August 10th. Barrington Research set a $64.00 price objective on shares of Virtusa and gave the company a “buy” rating in a research note on Friday, August 10th. Needham & Company LLC increased their price objective on shares of Virtusa from $65.00 to $68.00 and gave the company a “strong-buy” rating in a research note on Thursday, August 9th. Wedbush increased their price objective on shares of Virtusa from $60.00 to $70.00 and gave the company an “outperform” rating in a research note on Friday, August 31st. Finally, SunTrust Banks increased their price objective on shares of Virtusa to $56.00 and gave the company a “hold” rating in a research note on Monday, August 13th. Three investment analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $62.00.

Shares of VRTU stock opened at $58.30 on Friday. Virtusa Co. has a 52-week low of $34.74 and a 52-week high of $58.58. The firm has a market capitalization of $1.68 billion, a PE ratio of 65.51, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.68.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings data on Wednesday, August 8th. The information technology services provider reported $0.50 earnings per share (EPS) for the quarter, beating 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 company had revenue of $300.00 million during the quarter, compared to analysts’ expectations of $298.00 million. During the same quarter in the prior year, the company posted $0.25 EPS. The business’s revenue was up 32.0% on a year-over-year basis. equities research analysts forecast that Virtusa Co. will post 1.59 earnings per share for the current year.

In related news, CEO Kris A. Canekeratne sold 3,000 shares of the stock in a transaction dated Thursday, July 5th. The shares were sold at an average price of $50.28, for a total transaction of $150,840.00. Following the completion of the sale, the chief executive officer now owns 734,691 shares in the company, valued at approximately $36,940,263.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, President Samir Dhir sold 4,000 shares of the stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $52.89, for a total transaction of $211,560.00. Following the sale, the president now owns 129,045 shares of the company’s stock, valued at approximately $6,825,190.05. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock valued at $1,163,670 in the last quarter. 5.11% of the stock is currently owned by corporate insiders.

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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