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

Several research analysts have recently issued reports on VRTU shares. Zacks Investment Research raised Virtusa Corp. from a “sell” rating to a “buy” rating and set a $42.00 target price for the company in a research report on Thursday, April 21st. Maxim Group decreased their target price on Virtusa Corp. from $58.00 to $55.00 and set a “buy” rating for the company in a research report on Friday, April 22nd. Barrington Research reissued a “buy” rating and issued a $50.00 target price on shares of Virtusa Corp. in a research report on Sunday, May 15th. Needham & Company LLC reissued 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. Finally, Cantor Fitzgerald reissued a “buy” rating on shares of Virtusa Corp. in a research report on Monday, May 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $40.88.

The company has a market capitalization of $640.39 million and a P/E ratio of 22.62. The firm’s 50-day moving average price is $26.65 and its 200-day moving average price is $33.18.

Virtusa Corp. (NASDAQ:VRTU) last announced its earnings results on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.02. The business had revenue of $205.50 million for the quarter, compared to analysts’ expectations of $203.82 million. The firm’s quarterly revenue was up 52.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.48 EPS. On average, equities research analysts forecast that Virtusa Corp. will post $1.63 earnings per share for the current year.

In other news, Director Rowland T. Moriarty purchased 15,500 shares of the stock in a transaction that occurred on Friday, June 10th. The stock was purchased at an average price of $33.81 per share, for a total transaction of $524,055.00. Following the completion of the acquisition, the director now owns 94,303 shares of the company’s stock, valued at $3,188,384.43. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $630,360.00. Following the completion of the sale, 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.

Several hedge funds have recently made changes to their positions in VRTU. Comerica Bank raised its stake in shares of 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. 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 last quarter. Trexquant Investment LP purchased a new stake in shares of Virtusa Corp. during the fourth quarter worth about $1,639,000. 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 last quarter. Finally, California Public Employees Retirement System raised its stake 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 worth $2,795,000 after buying an additional 9,700 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.