Shares of Virtusa Corp. (NASDAQ:VRTU) fell 1.9% during mid-day trading on Friday . The stock traded as low as $28.36 and last traded at $28.46, with a volume of 94,761 shares trading hands. The stock had previously closed at $29.01.

Several research firms recently issued reports on VRTU. Zacks Investment Research cut shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a report on Thursday, May 5th. Barrington Research cut their price target on shares of Virtusa Corp. from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Tuesday, May 17th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $40.00 price target on shares of Virtusa Corp. in a report on Wednesday, June 29th. Maxim Group cut their price target on shares of Virtusa Corp. from $58.00 to $55.00 and set a “buy” rating on the stock in a report on Friday, April 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price target (down from $60.00) on shares of Virtusa Corp. in a report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. Virtusa Corp. has a consensus rating of “Buy” and an average price target of $44.78.

The firm’s 50 day moving average is $31.93 and its 200-day moving average is $35.88. The firm has a market capitalization of $843.86 million and a PE ratio of 18.93.

Virtusa Corp. (NASDAQ:VRTU) last released its quarterly earnings data on Monday, May 16th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.11. The company had revenue of $171.90 million for the quarter, compared to analyst estimates of $171.42 million. The business’s revenue was up 36.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.51 earnings per share. Equities research analysts forecast that Virtusa Corp. will post $2.08 EPS for the current year.

In other Virtusa Corp. news, CEO Kris A. Canekeratne sold 4,000 shares of the stock in a transaction on Monday, April 18th. The stock was sold at an average price of $37.19, for a total transaction of $148,760.00. Following the completion of the transaction, the chief executive officer now directly owns 821,415 shares in the company, valued at $30,548,423.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Rowland T. Moriarty acquired 15,000 shares of the company’s stock in a transaction on Thursday, June 9th. The shares were bought at an average price of $34.57 per share, with a total value of $518,550.00. Following the completion of the purchase, the director now directly owns 80,003 shares of the company’s stock, valued at $2,765,703.71. The disclosure for this purchase can be found here.

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Comerica Bank raised its position in 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 in the last quarter. GSA Capital Partners LLP raised its stake in shares of 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 period. Rhumbline Advisers raised its stake in shares of 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 period. Trexquant Investment LP acquired a new stake in shares of Virtusa Corp. during the fourth quarter worth $1,639,000. Finally, Mutual of America Capital Management LLC raised its stake in shares of 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 period.

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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