Virtusa Corp. (NASDAQ:VRTU) hit a new 52-week low during trading on Tuesday . The company traded as low as $21.23 and last traded at $21.71, with a volume of 108,092 shares changing hands. The stock had previously closed at $22.04.

A number of equities research analysts recently commented on the stock. Zacks Investment Research downgraded shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a research report on Thursday, May 5th. Barrington Research reduced their price target 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. Cantor Fitzgerald reiterated a “buy” rating and set a $40.00 price target on shares of Virtusa Corp. in a research report on Wednesday, June 29th. Maxim Group reduced their price target 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. Finally, Needham & Company LLC reiterated a “buy” rating and set a $32.00 price target (down from $45.00) on shares of Virtusa Corp. in a research report on Thursday, August 11th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company. Virtusa Corp. currently has an average rating of “Buy” and an average target price of $40.88.

The stock has a 50-day moving average of $27.03 and a 200 day moving average of $33.44. The company has a market capitalization of $642.78 million and a PE ratio of 22.70.

Virtusa Corp. (NASDAQ:VRTU) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.18 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. During the same period in the prior year, the company earned $0.48 EPS. The business had revenue of $205.50 million for the quarter, compared to the consensus estimate of $203.82 million. Virtusa Corp.’s quarterly revenue was up 52.4% on a year-over-year basis. Analysts predict that Virtusa Corp. will post $1.63 earnings per share for the current fiscal year.

In other Virtusa Corp. news, COO Roger Keith Modder sold 6,500 shares of the company’s stock in a transaction dated Thursday, May 19th. The shares were sold at an average price of $32.43, for a total value of $210,795.00. Following the completion of the transaction, the chief operating officer now owns 175,422 shares in the company, valued at approximately $5,688,935.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kris A. Canekeratne sold 18,000 shares of the company’s stock in a transaction dated Thursday, June 2nd. The stock was sold at an average price of $35.02, for a total transaction of $630,360.00. Following the completion of the transaction, the chief executive officer now 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.

Other hedge funds and institutional investors have recently bought and sold shares of 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 period. 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 period. 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 period. 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 period. Finally, Trexquant Investment LP purchased a new position in Virtusa Corp. during the fourth quarter valued at approximately $1,639,000.

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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