Frontier Capital Management Co. LLC Takes Position in Virtusa Corporation (VRTU)

Frontier Capital Management Co. LLC acquired a new stake in Virtusa Corporation (NASDAQ:VRTU) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 622,056 shares of the company’s stock, valued at approximately $15,626,000.

Several other large investors have also recently added to or reduced their stakes in VRTU. Teacher Retirement System of Texas boosted its stake in Virtusa Corporation by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,961 shares of the company’s stock valued at $114,000 after buying an additional 482 shares during the period. Municipal Employees Retirement System of Michigan boosted its stake in Virtusa Corporation by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,040 shares of the company’s stock valued at $149,000 after buying an additional 100 shares during the period. Aperio Group LLC purchased a new stake in Virtusa Corporation during the third quarter valued at about $241,000. UMB Bank N A MO boosted its stake in Virtusa Corporation by 17.4% in the third quarter. UMB Bank N A MO now owns 10,100 shares of the company’s stock valued at $249,000 after buying an additional 1,500 shares during the period. Finally, First Trust Advisors LP purchased a new stake in Virtusa Corporation during the second quarter valued at about $256,000. 93.20% of the stock is owned by institutional investors and hedge funds.

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

Shares of Virtusa Corporation (NASDAQ:VRTU) traded up 0.92% during mid-day trading on Monday, hitting $28.49. 51,663 shares of the stock traded hands. The stock has a market cap of $846.92 million, a P/E ratio of 59.35 and a beta of 1.42. Virtusa Corporation has a 12-month low of $18.03 and a 12-month high of $38.31. The firm’s 50 day moving average price is $26.31 and its 200-day moving average price is $23.92.

Virtusa Corporation (NASDAQ:VRTU) last issued its earnings results on Thursday, February 9th. The company reported $0.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.36 by $0.01. Virtusa Corporation had a net margin of 1.70% and a return on equity of 4.32%. The company had revenue of $217.20 million for the quarter, compared to the consensus estimate of $217.71 million. During the same quarter in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 44.2% compared to the same quarter last year. Analysts predict that Virtusa Corporation will post $1.33 earnings per share for the current year.

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A number of research analysts have commented on VRTU shares. Maxim Group restated a “buy” rating and issued a $32.00 price objective (up from $26.00) on shares of Virtusa Corporation in a research note on Wednesday, January 25th. Needham & Company LLC dropped their price objective on shares of Virtusa Corporation from $32.00 to $24.00 and set a “buy” rating on the stock in a research note on Thursday, November 10th. Wedbush upgraded shares of Virtusa Corporation from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $29.00 to $35.00 in a research note on Friday, January 6th. Zacks Investment Research lowered shares of Virtusa Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, November 16th. Finally, Cantor Fitzgerald set a $26.00 price objective on shares of Virtusa Corporation and gave the company a “buy” rating in a research note on Wednesday, December 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating to the company. Virtusa Corporation presently has a consensus rating of “Buy” and an average price target of $36.50.

In related news, CEO Kris A. Canekeratne sold 24,000 shares of Virtusa Corporation stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $22.53, for a total value of $540,720.00. Following the completion of the transaction, the chief executive officer now directly owns 802,133 shares of the company’s stock, valued at $18,072,056.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Ronald T. Maheu sold 5,000 shares of Virtusa Corporation stock in a transaction dated Wednesday, November 30th. The shares were sold at an average price of $22.50, for a total value of $112,500.00. Following the completion of the transaction, the director now directly owns 44,394 shares of the company’s stock, valued at $998,865. The disclosure for this sale can be found here. Insiders sold a total of 80,462 shares of company stock worth $1,989,495 in the last 90 days. 9.92% of the stock is owned by corporate insiders.

About Virtusa Corporation

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.

5 Day Chart for NASDAQ:VRTU

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