Everence Capital Management Inc. Acquires New Holdings in Virtusa Co. (VRTU)

Everence Capital Management Inc. acquired a new position in Virtusa Co. (NASDAQ:VRTU) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,050 shares of the information technology services provider’s stock, valued at approximately $537,000.

Other hedge funds also recently modified their holdings of the company. Macquarie Group Ltd. lifted its holdings in shares of Virtusa by 50.0% in the 4th quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in shares of Virtusa in the 4th quarter worth approximately $43,000. Pearl River Capital LLC acquired a new position in shares of Virtusa in the 4th quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Virtusa by 47.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock worth $79,000 after acquiring an additional 603 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new stake in Virtusa during the 4th quarter worth approximately $128,000. Hedge funds and other institutional investors own 88.92% of the company’s stock.

In other Virtusa news, CFO Ranjan Kalia sold 900 shares of the stock in a transaction that occurred on Wednesday, February 20th. The shares were sold at an average price of $51.05, for a total value of $45,945.00. Following the sale, the chief financial officer now directly owns 149,128 shares of the company’s stock, valued at approximately $7,612,984.40. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction that occurred on Friday, May 3rd. The shares were sold at an average price of $55.05, for a total transaction of $660,600.00. Following the completion of the sale, the chief executive officer now directly owns 585,117 shares in the company, valued at $32,210,690.85. The disclosure for this sale can be found here. Over the last three months, insiders sold 146,175 shares of company stock worth $7,677,389. Insiders own 5.11% of the company’s stock.

Shares of NASDAQ:VRTU opened at $52.57 on Thursday. Virtusa Co. has a 52 week low of $37.80 and a 52 week high of $58.60. The company has a current ratio of 2.35, a quick ratio of 2.35 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 59.07, a PEG ratio of 1.34 and a beta of 1.05.

A number of equities research analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $56.00 target price (down from $62.00) on shares of Virtusa in a report on Thursday. Barrington Research reiterated a “buy” rating and set a $64.00 target price on shares of Virtusa in a report on Friday, May 10th. Zacks Investment Research lowered shares of Virtusa from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. Finally, BidaskClub lowered shares of Virtusa from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Two research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Virtusa currently has a consensus rating of “Buy” and an average target price of $61.83.

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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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