Shares of Virtusa Corp. (NASDAQ:VRTU) were up 1.8% on Wednesday . The stock traded as high as $28.90 and last traded at $28.87, with a volume of 58,063 shares changing hands. The stock had previously closed at $28.36.

Several analysts have weighed in on VRTU shares. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Virtusa Corp. in a research report on Monday, May 16th. Needham & Company LLC reissued a “buy” rating and issued a $45.00 price target (down from $60.00) on shares of Virtusa Corp. in a research report on Tuesday, May 17th. Maxim Group reissued a “buy” rating and issued a $42.00 price target (down from $46.00) on shares of Virtusa Corp. in a research report on Wednesday, June 29th. Zacks Investment Research raised Virtusa Corp. from a “sell” rating to a “buy” rating and set a $42.00 price target on the stock in a research report on Thursday, April 21st. Finally, Barrington Research reissued a “buy” rating and issued a $50.00 price target on shares of Virtusa Corp. in a research report on Sunday, May 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company’s stock. Virtusa Corp. has a consensus rating of “Buy” and an average price target of $44.78.

The stock has a market capitalization of $860.91 million and a P/E ratio of 19.31. The firm has a 50-day moving average price of $32.43 and a 200 day moving average price of $36.08.

Virtusa Corp. (NASDAQ:VRTU) last announced its earnings results on Monday, May 16th. The company reported $0.55 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.11. The firm earned $171.90 million during the quarter, compared to analyst estimates of $171.42 million. During the same quarter last year, the business earned $0.51 earnings per share. Virtusa Corp.’s revenue was up 36.3% on a year-over-year basis. Equities research analysts anticipate that Virtusa Corp. will post $2.08 earnings per share for the current year.

In related news, CEO Kris A. Canekeratne sold 6,000 shares of the firm’s stock in a transaction on Tuesday, April 19th. The shares were sold at an average price of $37.15, for a total transaction of $222,900.00. Following the completion of the transaction, the chief executive officer now owns 821,415 shares of the company’s stock, valued at $30,515,567.25. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 18,000 shares of the firm’s stock in a transaction on Thursday, June 2nd. The stock was sold at an average price of $35.02, for a total transaction of $630,360.00. Following the transaction, the chief executive officer now directly owns 813,414 shares of the company’s stock, valued at approximately $28,485,758.28. The disclosure for this sale can be found here.

Several hedge funds and institutional investors have modified their holdings of the company. Comerica Bank boosted its position in shares of Virtusa Corp. by 0.9% in the fourth quarter. Comerica Bank now owns 27,622 shares of the company’s stock valued at $1,102,000 after buying an additional 236 shares during the period. GSA Capital Partners LLP boosted its position in Virtusa Corp. by 669.3% in the fourth quarter. GSA Capital Partners LLP now owns 32,678 shares of the company’s stock worth $1,351,000 after buying an additional 28,430 shares during the last quarter. Rhumbline Advisers boosted its position in Virtusa Corp. by 9.4% in the fourth quarter. Rhumbline Advisers now owns 33,490 shares of the company’s stock worth $1,384,000 after buying an additional 2,875 shares during the last quarter. Trexquant Investment LP purchased a new position in Virtusa Corp. during the fourth quarter worth $1,639,000. Finally, Mutual of America Capital Management LLC boosted its position in Virtusa Corp. by 0.6% in the fourth quarter. Mutual of America Capital Management LLC now owns 43,595 shares of the company’s stock worth $1,802,000 after buying an additional 259 shares during the last quarter.

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.

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