Virtusa Co. (VRTU) Shares Bought by Granahan Investment Management Inc. MA

Granahan Investment Management Inc. MA increased its stake in shares of Virtusa Co. (NASDAQ:VRTU) by 6.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 450,386 shares of the information technology services provider’s stock after purchasing an additional 25,350 shares during the period. Virtusa makes up 1.3% of Granahan Investment Management Inc. MA’s portfolio, making the stock its 17th largest holding. Granahan Investment Management Inc. MA’s holdings in Virtusa were worth $21,925,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. SG Americas Securities LLC acquired a new stake in shares of Virtusa during the first quarter worth $107,000. Fortis Advisors LLC acquired a new stake in shares of Virtusa during the first quarter worth $116,000. Stevens Capital Management LP acquired a new stake in shares of Virtusa during the first quarter worth $209,000. LPL Financial LLC acquired a new stake in shares of Virtusa during the first quarter worth $219,000. Finally, Amalgamated Bank acquired a new stake in shares of Virtusa during the second quarter worth $223,000. 86.80% of the stock is owned by hedge funds and other institutional investors.

In other news, CEO Kris A. Canekeratne sold 3,000 shares of the firm’s stock in a transaction on Thursday, July 5th. The stock was sold at an average price of $50.28, for a total value of $150,840.00. Following the completion of the transaction, the chief executive officer now owns 734,691 shares in the company, valued at $36,940,263.48. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Samir Dhir sold 4,000 shares of the firm’s stock in a transaction 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 transaction, 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 sold 22,000 shares of company stock valued at $1,163,670 in the last quarter. 5.11% of the stock is currently owned by company insiders.

Several equities research analysts recently weighed in on VRTU shares. SunTrust Banks increased their price target on Virtusa to $56.00 and gave the stock a “hold” rating in a report on Monday, August 13th. Cantor Fitzgerald increased their price target on Virtusa from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. Zacks Investment Research raised Virtusa from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 22nd. Needham & Company LLC increased their price target on Virtusa from $65.00 to $68.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 9th. Finally, BidaskClub raised Virtusa from a “hold” rating to a “buy” rating in a report on Thursday, June 7th. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $62.00.

NASDAQ:VRTU opened at $58.30 on Friday. The firm has a market capitalization of $1.68 billion, a price-to-earnings ratio of 65.51, a price-to-earnings-growth ratio of 1.77 and a beta of 1.27. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.50 and a quick ratio of 2.50. Virtusa Co. has a 1 year low of $34.74 and a 1 year high of $58.58.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Wednesday, August 8th. The information technology services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.03. The firm had revenue of $300.00 million during the quarter, compared to analysts’ expectations of $298.00 million. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. Virtusa’s revenue was up 32.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.25 earnings per share. sell-side analysts anticipate that Virtusa Co. will post 1.59 EPS for the current year.

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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