Virtusa Corp. (VRTU) Sees Unusually-High Trading Volume
Virtusa Corp. (NASDAQ:VRTU) shares saw unusually-high trading volume on Wednesday . Approximately 325,177 shares changed hands during mid-day trading, an increase of 16% from the previous session’s volume of 279,265 shares.The stock last traded at $23.51 and had previously closed at $22.67.
VRTU has been the topic of a number of recent research reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $40.00 price objective on shares of Virtusa Corp. in a report on Wednesday, July 6th. Maxim Group reiterated a “buy” rating and issued a $42.00 price objective (down from $46.00) on shares of Virtusa Corp. in a report on Wednesday, June 29th. Needham & Company LLC reiterated a “buy” rating and issued a $45.00 price objective (down from $60.00) on shares of Virtusa Corp. in a report on Tuesday, May 17th. Barrington Research reiterated a “buy” rating and issued a $50.00 price objective on shares of Virtusa Corp. in a report on Sunday, May 15th. Finally, Zacks Investment Research upgraded shares of Virtusa Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $40.88.
The firm has a 50-day moving average price of $25.68 and a 200 day moving average price of $32.31. The stock has a market cap of $712.38 million and a price-to-earnings ratio of 25.16.
Virtusa Corp. (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.02. 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. During the same quarter in the previous year, the company posted $0.48 earnings per share. Analysts anticipate that Virtusa Corp. will post $1.63 EPS for the current year.
In other Virtusa Corp. news, Director Rowland T. Moriarty purchased 15,500 shares of the business’s stock in a transaction on Friday, June 10th. The shares were purchased at an average cost of $33.81 per share, for a total transaction of $524,055.00. Following 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 document filed with the SEC, which can be accessed through the SEC website. Also, Director Rowland T. Moriarty purchased 15,000 shares of the business’s stock in a transaction on Thursday, June 9th. The shares were acquired at an average price of $34.57 per share, for a total transaction of $518,550.00. Following the completion of the acquisition, the director now directly owns 80,003 shares in the company, valued at approximately $2,765,703.71. The disclosure for this purchase can be found here.
A hedge fund recently raised its stake in Virtusa Corp. stock. Dimensional Fund Advisors LP raised its position in Virtusa Corp. (NASDAQ:VRTU) by 2.5% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,357,913 shares of the company’s stock after buying an additional 32,711 shares during the period. Dimensional Fund Advisors LP owned approximately 4.56% of Virtusa Corp. worth $56,136,000 as of its most recent filing with the SEC.
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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