Empire Capital Management L.l.c. Exits Position in Virtusa Corporation (VRTU)

Virtusa Corporation (VRTU) : Empire Capital Management L.l.c. has sold out all of its stake in Virtusa Corporation during the most recent quarter, according to the disclosure filed by the company on May 13, 2016 with the SEC. The investment management company has sold out 10,000 shares of Virtusa Corporation which is valued at $351,900.

Other Hedge Funds, Including , Dimensional Fund Advisors Lp reduced its stake in VRTU by selling 43,170 shares or 3.18% in the most recent quarter. The Hedge Fund company now holds 1,314,743 shares of VRTU which is valued at $46.3 Million. Virtusa Corporation makes up approx 0.03% of Dimensional Fund Advisors Lp’s portfolio.Thrivent Financial For Lutherans boosted its stake in VRTU in the latest quarter, The investment management firm added 14,000 additional shares and now holds a total of 1,019,837 shares of Virtusa Corporation which is valued at $35.9 Million. Virtusa Corporation makes up approx 0.18% of Thrivent Financial For Lutherans’s portfolio.Bessemer Group Inc reduced its stake in VRTU by selling 2 shares or 1.3% in the most recent quarter. The Hedge Fund company now holds 152 shares of VRTU which is valued at $5,349.Blackrock Institutional Trust Company N.a. boosted its stake in VRTU in the latest quarter, The investment management firm added 9,875 additional shares and now holds a total of 671,550 shares of Virtusa Corporation which is valued at $23.6 Million.Schwab Charles Investment Management Inc boosted its stake in VRTU in the latest quarter, The investment management firm added 1,715 additional shares and now holds a total of 91,251 shares of Virtusa Corporation which is valued at $3.3 Million.

Virtusa Corporation opened for trading at $33.87 and hit $34.83 on the upside on Wednesday, eventually ending the session at $34.52, with a gain of 2.46% or 0.83 points. The heightened volatility saw the trading volume jump to 1,84,556 shares. Company has a market cap of $1,029 M.

On the company’s financial health, Virtusa Corporation reported $0.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.08 according to the earnings call on May 16, 2016. Analyst had a consensus of $0.47. The company had revenue of $171.80 million for the quarter, compared to analysts expectations of $169.54 million. The company’s revenue was up 36.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.51 EPS.

Many Wall Street Analysts have commented on Virtusa Corporation. Shares were Reiterated by Barrington Research on May 17, 2016 to “Outperform” and Lowered the Price Target to $ 46 from a previous price target of $50 .Shares were Reiterated by Maxim Group on May 16, 2016 to “Buy” and Lowered the Price Target to $ 46 from a previous price target of $55 .Shares were Reiterated by Maxim Group on Apr 22, 2016 to “Buy” and Lowered the Price Target to $ 55 from a previous price target of $58 .

Virtusa Corporation (Virtusa) is an information technology services company. The Company’s services include information technology (IT) and business consulting user experience (UX) design development of IT applications maintenance and support services systems integration infrastructure and managed services. The Company’s services enable its clients to accelerate business outcomes by consolidating rationalizing and modernizing the clients’ core customer-facing processes into one or more core systems. The Company delivers solutions through a global delivery model applying advanced methods such as Agile an industry standard technique designed to accelerate application development. The Company’s offerings include Business and Information Technology consulting services Technology implementation services Application outsourcing services Global delivery model Platforming approach Core solutions Transformational solutions and Millennial solutions.

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