Virtusa Corp. (NASDAQ:VRTU)’s share price shot up 4.5% during trading on Tuesday . The company traded as high as $22.51 and last traded at $22.43, with a volume of 130,170 shares traded. The stock had previously closed at $21.46.

A number of brokerages recently commented on VRTU. Zacks Investment Research downgraded shares of Virtusa Corp. from a “hold” rating to a “sell” rating in a research note on Saturday, May 21st. Maxim Group lowered 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 note on Monday, May 16th. Needham & Company LLC reiterated a “buy” rating and set a $45.00 target price (down previously from $60.00) on shares of Virtusa Corp. in a research note on Tuesday, May 17th. Cantor Fitzgerald reiterated a “buy” rating on shares of Virtusa Corp. in a research note on Monday, May 16th. Finally, Barrington Research lowered 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 note on Tuesday, May 17th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $40.88.

The firm’s 50 day moving average price is $26.00 and its 200 day moving average price is $32.58. The company has a market capitalization of $677.13 million and a PE ratio of 23.91.

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

In other Virtusa Corp. news, Director Rowland T. Moriarty bought 15,500 shares of the business’s stock in a transaction dated Friday, June 10th. The shares were acquired at an average price of $33.81 per share, with a total value of $524,055.00. Following the purchase, the director now owns 94,303 shares in the company, valued at approximately $3,188,384.43. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Rowland T. Moriarty bought 15,000 shares of the business’s stock in a transaction dated Thursday, June 9th. The stock was acquired at an average cost of $34.57 per share, for a total transaction of $518,550.00. Following the purchase, the director now owns 80,003 shares in the company, valued at approximately $2,765,703.71. The disclosure for this purchase can be found here.

Several institutional investors have modified their holdings of VRTU. Comerica Bank increased 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 worth $1,102,000 after buying an additional 236 shares in the last quarter. Rhumbline Advisers increased 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 worth $1,384,000 after buying an additional 2,875 shares in the last quarter. Trexquant Investment LP acquired a new position in shares of Virtusa Corp. during the fourth quarter worth approximately $1,639,000. California Public Employees Retirement System increased 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 worth $2,795,000 after buying an additional 9,700 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Virtusa Corp. by 2.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,357,913 shares of the company’s stock worth $56,136,000 after buying an additional 32,711 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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