Virtusa Corp. (NASDAQ:VRTU) shares reached a new 52-week low on Thursday . The company traded as low as $26.09 and last traded at $26.12, with a volume of 91,911 shares trading hands. The stock had previously closed at $27.26.

VRTU has been the subject of a number of research reports. Maxim Group reduced their target price on shares of Virtusa Corp. from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, April 22nd. Zacks Investment Research downgraded shares of Virtusa Corp. from a “hold” rating to a “sell” rating in a research report on Wednesday, April 6th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $40.00 price objective on shares of Virtusa Corp. in a report on Wednesday, July 6th. Barrington Research cut their price objective on shares of Virtusa Corp. from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, May 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 price objective (down from $60.00) on shares of Virtusa Corp. in a report on Tuesday, May 17th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $44.78.

The stock has a 50 day moving average of $29.39 and a 200-day moving average of $34.61. The stock has a market cap of $787.30 million and a price-to-earnings ratio of 17.66.

Virtusa Corp. (NASDAQ:VRTU) last issued its earnings results 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 firm earned $171.90 million during the quarter, compared to analysts’ expectations of $171.42 million. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. During the same period last year, the firm posted $0.51 earnings per share. On average, equities analysts anticipate that Virtusa Corp. will post $2.08 earnings per share for the current fiscal year.

In other news, COO Roger Keith Modder sold 6,500 shares of the business’s stock in a transaction that occurred on Thursday, May 19th. The shares were sold at an average price of $32.43, for a total transaction of $210,795.00. Following the completion of the transaction, the chief operating officer now directly owns 175,422 shares of the company’s stock, valued at $5,688,935.46. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kris A. Canekeratne sold 18,000 shares of the business’s stock in a transaction that occurred on Thursday, June 2nd. The shares were 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 $28,485,758.28. 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. 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 valued at $1,384,000 after buying an additional 2,875 shares during the last quarter. California Public Employees Retirement System boosted its position in Virtusa Corp. by 16.8% in the fourth quarter. California Public Employees Retirement System now owns 67,600 shares of the company’s stock valued at $2,795,000 after buying an additional 9,700 shares during the last quarter. Comerica Bank boosted 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 during the last quarter. 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 valued at $1,351,000 after buying an additional 28,430 shares during the last quarter. 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 valued at $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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