Monarch Partners Asset Management LLC Lowers Holdings in Virtusa Co. (VRTU)

Monarch Partners Asset Management LLC cut its position in Virtusa Co. (NASDAQ:VRTU) by 18.0% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 130,813 shares of the information technology services provider’s stock after selling 28,650 shares during the period. Monarch Partners Asset Management LLC’s holdings in Virtusa were worth $6,992,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Macquarie Group Ltd. grew its position in Virtusa by 50.0% during the fourth quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Virtusa during the fourth quarter worth about $43,000. Pearl River Capital LLC purchased a new position in Virtusa during the fourth quarter worth about $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Virtusa by 47.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock worth $79,000 after buying an additional 603 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Virtusa during the fourth quarter worth about $128,000. Hedge funds and other institutional investors own 88.28% of the company’s stock.

In other news, President Samir Dhir sold 4,000 shares of the company’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $54.99, for a total value of $219,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Ranjan Kalia sold 2,500 shares of the company’s stock in a transaction dated Wednesday, February 27th. The stock was sold at an average price of $50.70, for a total value of $126,750.00. Following the completion of the transaction, the chief financial officer now owns 143,986 shares of the company’s stock, valued at $7,300,090.20. The disclosure for this sale can be found here. Insiders sold a total of 126,288 shares of company stock valued at $6,662,811 over the last quarter. Company insiders own 5.11% of the company’s stock.

Shares of VRTU traded up $0.46 during midday trading on Friday, reaching $43.16. The stock had a trading volume of 5,034 shares, compared to its average volume of 136,833. Virtusa Co. has a 12-month low of $37.80 and a 12-month high of $58.60. The company has a current ratio of 2.72, a quick ratio of 2.35 and a debt-to-equity ratio of 1.24. The stock has a market capitalization of $1.29 billion, a P/E ratio of 29.56, a PEG ratio of 1.08 and a beta of 1.05.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Wednesday, May 15th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.41 by ($0.06). Virtusa had a return on equity of 12.68% and a net margin of 1.29%. The firm had revenue of $327.60 million during the quarter, compared to analysts’ expectations of $330.91 million. During the same quarter in the previous year, the company posted $0.55 earnings per share. Virtusa’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities research analysts predict that Virtusa Co. will post 2.01 EPS for the current year.

VRTU has been the subject of several recent analyst reports. Cantor Fitzgerald restated a “buy” rating and set a $62.00 target price on shares of Virtusa in a research report on Friday, February 8th. BidaskClub cut Virtusa from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. Barrington Research restated a “buy” rating and set a $64.00 target price on shares of Virtusa in a research report on Friday, May 10th. Zacks Investment Research upgraded Virtusa from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Finally, Needham & Company LLC restated a “strong-buy” rating and set a $60.00 target price on shares of Virtusa in a research report on Thursday, May 16th. Two equities research analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. Virtusa currently has a consensus rating of “Buy” and a consensus target price of $56.83.

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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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