SG Americas Securities LLC Has $1.63 Million Stake in Virtusa Co. (VRTU)

SG Americas Securities LLC grew its holdings in shares of Virtusa Co. (NASDAQ:VRTU) by 325.0% in the 3rd quarter, Holdings Channel reports. The fund owned 30,385 shares of the information technology services provider’s stock after purchasing an additional 23,236 shares during the period. SG Americas Securities LLC’s holdings in Virtusa were worth $1,632,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in VRTU. Amalgamated Bank bought a new position in shares of Virtusa during the second quarter valued at $223,000. Cambridge Investment Research Advisors Inc. bought a new position in shares of Virtusa during the second quarter valued at $229,000. PEAK6 Investments L.P. bought a new position in shares of Virtusa during the second quarter valued at $240,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Virtusa during the second quarter valued at $284,000. Finally, Stevens Capital Management LP raised its stake in Virtusa by 43.4% during the second quarter. Stevens Capital Management LP now owns 6,190 shares of the information technology services provider’s stock worth $301,000 after buying an additional 1,874 shares during the last quarter. 85.51% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ VRTU opened at $44.77 on Tuesday. Virtusa Co. has a twelve month low of $38.67 and a twelve month high of $58.60. The firm has a market cap of $1.33 billion, a P/E ratio of 50.30, a PEG ratio of 1.41 and a beta of 1.17. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.88.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Thursday, November 8th. The information technology services provider reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. The business had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $306.37 million. Virtusa had a negative net margin of 1.04% and a positive return on equity of 9.03%. The business’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period last year, the company posted $0.35 earnings per share. On average, research analysts predict that Virtusa Co. will post 1.57 EPS for the current fiscal year.

A number of equities analysts recently weighed in on VRTU shares. ValuEngine downgraded shares of Virtusa from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 1st. Barrington Research set a $64.00 target price on shares of Virtusa and gave the stock a “buy” rating in a research note on Wednesday, October 31st. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a research note on Tuesday, October 23rd. Zacks Investment Research raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research note on Saturday, November 17th. Finally, SunTrust Banks raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Thursday, November 29th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $60.50.

In other Virtusa news, President Samir Dhir sold 4,000 shares of the firm’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $49.55, for a total value of $198,200.00. Following the completion of the sale, the president now directly owns 118,822 shares in the company, valued at $5,887,630.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 5.11% of the company’s stock.

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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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