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

A number of analysts recently commented on the stock. Zacks Investment Research cut shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Barrington Research decreased their price objective on shares of Virtusa Corp. from $50.00 to $46.00 and set an “outperform” rating for the company in a research note on Tuesday, May 17th. Cantor Fitzgerald restated a “buy” rating and set a $40.00 price objective on shares of Virtusa Corp. in a research note on Wednesday, June 29th. Maxim Group decreased their price objective on shares of Virtusa Corp. from $58.00 to $55.00 and set a “buy” rating for the company in a research note on Friday, April 22nd. Finally, Needham & Company LLC restated a “buy” rating and set a $45.00 price objective (down from $60.00) on shares of Virtusa Corp. in a research note on Tuesday, May 17th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $44.78.

The stock’s 50-day moving average is $28.96 and its 200-day moving average is $34.50. The stock has a market capitalization of $803.46 million and a PE ratio of 18.02.

Virtusa Corp. (NASDAQ:VRTU) last released its earnings results on Monday, May 16th. The company reported $0.55 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.11. The firm had revenue of $171.90 million for the quarter, compared to analysts’ expectations of $171.42 million. During the same quarter in the previous year, the company posted $0.51 earnings per share. The firm’s quarterly revenue was up 36.3% on a year-over-year basis. On average, equities analysts anticipate that Virtusa Corp. will post $2.08 earnings per share for the current year.

In related news, Director Rowland T. Moriarty purchased 15,500 shares of the company’s stock in a transaction on Friday, June 10th. The shares were bought at an average cost of $33.81 per share, for a total transaction of $524,055.00. Following the completion of the purchase, the director now directly owns 94,303 shares of the company’s stock, valued at approximately $3,188,384.43. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Roger Keith Modder sold 6,500 shares of the 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 owns 175,422 shares in the company, valued at $5,688,935.46. The disclosure for this sale can be found here.

A number of institutional investors recently made changes to their positions in the stock. Comerica Bank raised 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 in the last quarter. Mutual of America Capital Management LLC raised its position 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 valued at $1,802,000 after buying an additional 259 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Virtusa Corp. by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 179,003 shares of the company’s stock valued at $7,400,000 after buying an additional 1,736 shares in the last quarter. Rhumbline Advisers raised its position in shares of 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 in the last quarter. Finally, California Public Employees Retirement System raised its position in shares of 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 in 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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