California Public Employees Retirement System lifted its holdings in Virtusa Co. (NASDAQ:VRTU) by 24.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,684 shares of the information technology services provider’s stock after purchasing an additional 20,684 shares during the period. California Public Employees Retirement System owned 0.36% of Virtusa worth $4,703,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Victory Capital Management Inc. bought a new position in Virtusa in the 3rd quarter worth $130,000. Piedmont Investment Advisors LLC bought a new position in Virtusa in the 3rd quarter worth $224,000. Trexquant Investment LP bought a new position in shares of Virtusa during the 3rd quarter worth about $247,000. Teacher Retirement System of Texas bought a new position in shares of Virtusa during the 4th quarter worth about $421,000. Finally, Crossmark Global Holdings Inc. bought a new position in shares of Virtusa during the 3rd quarter worth about $379,000. 86.76% of the stock is owned by institutional investors and hedge funds.
VRTU has been the topic of several research reports. Zacks Investment Research upgraded shares of Virtusa from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. Needham & Company LLC boosted their price objective on shares of Virtusa to $55.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Cowen restated a “buy” rating and set a $55.00 price objective on shares of Virtusa in a report on Thursday, December 14th. BidaskClub downgraded shares of Virtusa from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 30th. Finally, Maxim Group set a $59.00 price objective on shares of Virtusa and gave the stock a “buy” rating in a report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $56.00.
Shares of Virtusa Co. (NASDAQ VRTU) opened at $51.50 on Wednesday. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.23. Virtusa Co. has a 12-month low of $25.72 and a 12-month high of $52.88. The firm has a market cap of $1,520.00, a PE ratio of 59.88, a PEG ratio of 2.52 and a beta of 1.35.
Virtusa (NASDAQ:VRTU) last issued its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The business had revenue of $263.80 million for the quarter, compared to analyst estimates of $259.81 million. During the same period in the previous year, the business earned $0.37 EPS. The firm’s revenue was up 21.5% on a year-over-year basis. analysts anticipate that Virtusa Co. will post 0.99 earnings per share for the current year.
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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