Pembroke Management Ltd buys $37,300,382 stake in Virtusa Corporation (VRTU)

Virtusa Corporation (VRTU) : Pembroke Management Ltd scooped up 1,500 additional shares in Virtusa Corporation during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 1,039,587 shares of Virtusa Corporation which is valued at $37,300,382.Virtusa Corporation makes up approximately 3.53% of Pembroke Management Ltd’s portfolio.

Other Hedge Funds, Including , Scout Investments boosted its stake in VRTU in the latest quarter, The investment management firm added 28,900 additional shares and now holds a total of 67,700 shares of Virtusa Corporation which is valued at $2,429,076. Virtusa Corporation makes up approx 0.07% of Scout Investments’s portfolio. Kornitzer Capital Management Inc Ks added VRTU to its portfolio by purchasing 62,600 company shares during the most recent quarter which is valued at $2,246,088. Virtusa Corporation makes up approx 0.04% of Kornitzer Capital Management Inc Ks’s portfolio.First Mercantile Trust Co boosted its stake in VRTU in the latest quarter, The investment management firm added 2,582 additional shares and now holds a total of 13,667 shares of Virtusa Corporation which is valued at $485,725. Virtusa Corporation makes up approx 0.06% of First Mercantile Trust Co’s portfolio.Aperio Group reduced its stake in VRTU by selling 1,380 shares or 18.03% in the most recent quarter. The Hedge Fund company now holds 6,276 shares of VRTU which is valued at $223,049.

Virtusa Corporation opened for trading at $35.98 and hit $36.61 on the upside on Tuesday, eventually ending the session at $36.33, with a gain of 1.03% or 0.37 points. The heightened volatility saw the trading volume jump to 64,735 shares. Company has a market cap of $1,083 M.

On the company’s financial health, Virtusa Corporation reported $0.54 EPS for the quarter, missing the analyst consensus estimate by $ -0.01 based on the information available during the earnings call on Feb 8, 2016. Analyst had a consensus of $0.55. The company had revenue of $150.60 million for the quarter, compared to analysts expectations of $151.44 million. The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS.

Many Wall Street Analysts have commented on Virtusa Corporation. 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 was Upgraded by Sun Trust Rbsn Humphrey to ” Buy” on Feb 19, 2016. Shares were Reiterated by Needham on Feb 9, 2016 to “Buy” and Lowered the Price Target to $ 60 from a previous price target of $65 .

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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