Virtusa Corp. (VRTU) Trading 4.5% Higher
Virtusa Corp. (NASDAQ:VRTU)’s share price traded 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.
Several research firms have issued reports on VRTU. Zacks Investment Research cut Virtusa Corp. from a “buy” rating to a “hold” rating in a research note on Thursday, May 5th. Barrington Research cut their target price on 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 reissued a “buy” rating on shares of Virtusa Corp. in a research note on Monday. Needham & Company LLC reissued a “buy” rating and set a $32.00 target price (down previously from $45.00) on shares of Virtusa Corp. in a research note on Thursday, August 11th. Finally, Maxim Group cut their target price on Virtusa Corp. from $42.00 to $38.00 and set a “buy” rating for the company in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $40.88.
The company has a 50-day moving average of $25.79 and a 200-day moving average of $32.37. The company has a market capitalization of $703.12 million and a PE ratio of 24.83.
Virtusa Corp. (NASDAQ:VRTU) last posted its earnings results on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. During the same period in the previous year, the company posted $0.48 EPS. The company earned $205.50 million during the quarter, compared to analysts’ expectations of $203.82 million. Virtusa Corp.’s quarterly revenue was up 52.4% compared to the same quarter last year. Equities analysts anticipate that Virtusa Corp. will post $1.63 earnings per share for the current fiscal year.
In related news, Director Rowland T. Moriarty bought 15,000 shares of Virtusa Corp. stock in a transaction that occurred on Thursday, June 9th. The shares were purchased at an average price of $34.57 per share, with a total value of $518,550.00. Following the purchase, the director now owns 80,003 shares in the company, valued at $2,765,703.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Rowland T. Moriarty bought 15,500 shares of Virtusa Corp. stock in a transaction that occurred on Friday, June 10th. The stock was bought at an average cost of $33.81 per share, for a total transaction 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 disclosure for this purchase can be found here.
Other large investors recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its stake in 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 during the last quarter. Trexquant Investment LP acquired a new position in shares of Virtusa Corp. during the fourth quarter worth $1,639,000. 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 worth $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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