Virtusa Corp. (NASDAQ:VRTU) traded down 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 traded. The stock had previously closed at $29.01.

Several equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Virtusa Corp. from a “sell” rating to a “buy” rating and set a $42.00 price objective for the company in a research report on Thursday, April 21st. Maxim Group decreased their target price on shares of Virtusa Corp. from $55.00 to $46.00 and set a “buy” rating for the company in a research report on Monday, May 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price (down previously from $60.00) on shares of Virtusa Corp. in a research report on Tuesday, May 17th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Virtusa Corp. in a research report on Monday, May 16th. Finally, Barrington Research decreased their target price on shares of Virtusa Corp. from $50.00 to $46.00 and set an “outperform” rating for the company in a research report on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $44.78.

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

Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings results on Monday, May 16th. The company reported $0.55 earnings per share (EPS) for the quarter, topping the Zacks’ 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. The firm’s revenue for the quarter was up 36.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.51 EPS. On average, equities analysts expect that Virtusa Corp. will post $2.08 EPS for the current year.

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

Other hedge funds and institutional investors recently added to or reduced their stakes in the company. Comerica Bank increased its position in Virtusa Corp. by 0.9% in the fourth quarter. Comerica Bank now owns 27,622 shares of the company’s stock worth $1,102,000 after buying an additional 236 shares during the last quarter. GSA Capital Partners LLP increased 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 increased 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 bought a new position in Virtusa Corp. during the fourth quarter worth about $1,639,000. Finally, Mutual of America Capital Management LLC increased 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.

Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.