Russell Investments Group Ltd. Has $7.18 Million Stake in Virtusa Co. (VRTU)

Russell Investments Group Ltd. decreased its position in shares of Virtusa Co. (NASDAQ:VRTU) by 10.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 189,930 shares of the information technology services provider’s stock after selling 23,080 shares during the quarter. Russell Investments Group Ltd. owned 0.65% of Virtusa worth $7,175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Municipal Employees Retirement System of Michigan grew its stake in shares of Virtusa by 59.8% during the 3rd quarter. Municipal Employees Retirement System of Michigan now owns 10,400 shares of the information technology services provider’s stock worth $393,000 after purchasing an additional 3,890 shares during the period. New York State Common Retirement Fund grew its stake in Virtusa by 81.0% in the 3rd quarter. New York State Common Retirement Fund now owns 52,853 shares of the information technology services provider’s stock valued at $1,997,000 after acquiring an additional 23,653 shares during the period. Sei Investments Co. grew its stake in Virtusa by 69.5% in the 3rd quarter. Sei Investments Co. now owns 24,568 shares of the information technology services provider’s stock valued at $928,000 after acquiring an additional 10,075 shares during the period. BNP Paribas Arbitrage SA grew its stake in Virtusa by 53.6% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 13,521 shares of the information technology services provider’s stock valued at $511,000 after acquiring an additional 4,716 shares during the period. Finally, USA Financial Portformulas Corp acquired a new stake in Virtusa in the 3rd quarter valued at $383,000. 88.04% of the stock is currently owned by institutional investors and hedge funds.

In other Virtusa news, CEO Kris A. Canekeratne sold 11,211 shares of Virtusa stock in a transaction on Monday, September 25th. The shares were sold at an average price of $36.46, for a total transaction of $408,753.06. Following the sale, the chief executive officer now owns 589,491 shares of the company’s stock, valued at approximately $21,492,841.86. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 789 shares of Virtusa stock in a transaction on Monday, September 18th. The stock was sold at an average price of $36.09, for a total value of $28,475.01. Following the transaction, the chief executive officer now owns 594,702 shares in the company, valued at approximately $21,462,795.18. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 88,075 shares of company stock worth $3,697,802. 5.96% of the stock is currently owned by corporate insiders.

Shares of Virtusa Co. (VRTU) opened at $44.81 on Friday. Virtusa Co. has a one year low of $23.75 and a one year high of $48.71. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18. The stock has a market cap of $1,320.86, a price-to-earnings ratio of 51.11, a price-to-earnings-growth ratio of 2.16 and a beta of 1.71.

Virtusa (NASDAQ:VRTU) last announced its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The company had revenue of $248.20 million for the quarter, compared to analysts’ expectations of $237.48 million. During the same quarter in the previous year, the company posted $0.27 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. sell-side analysts forecast that Virtusa Co. will post 1.04 earnings per share for the current year.

A number of equities research analysts recently issued reports on VRTU shares. Zacks Investment Research cut shares of Virtusa from a “hold” rating to a “sell” rating in a research note on Thursday, September 14th. Needham & Company LLC lifted their price target on shares of Virtusa to $55.00 and gave the company a “buy” rating in a research note on Friday, November 17th. Cowen reissued a “buy” rating and issued a $37.00 price target on shares of Virtusa in a research note on Thursday, October 12th. Barrington Research lifted their price target on shares of Virtusa to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. Finally, Maxim Group raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, November 8th. Two analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Virtusa currently has a consensus rating of “Buy” and a consensus price target of $45.00.

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Virtusa 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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Institutional Ownership by Quarter for Virtusa (NASDAQ:VRTU)

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