Virtusa Corp. (VRTU) Stock Price Up 3.3%
Virtusa Corp. (NASDAQ:VRTU)’s share price rose 3.3% during mid-day trading on Monday . The company traded as high as $25.30 and last traded at $25.24, with a volume of 499,707 shares changing hands. The stock had previously closed at $24.43.
VRTU has been the subject of a number of recent analyst reports. Zacks Investment Research cut Virtusa Corp. from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 16th. Cantor Fitzgerald restated a “buy” rating and set a $40.00 price objective on shares of Virtusa Corp. in a report on Wednesday, July 6th. Maxim Group dropped their price objective on Virtusa Corp. from $55.00 to $46.00 and set a “buy” rating for the company in a report on Monday, May 16th. Barrington Research dropped their price objective on Virtusa Corp. from $50.00 to $46.00 and set an “outperform” rating for the company in a report on Tuesday, May 17th. Finally, TheStreet cut Virtusa Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $40.88.
The company has a market capitalization of $753.89 million and a PE ratio of 26.62. The company has a 50-day moving average of $25.53 and a 200-day moving average of $32.15.
Virtusa Corp. (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, August 9th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The company earned $205.50 million during the quarter, compared to analyst estimates of $203.82 million. Virtusa Corp.’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.48 EPS. On average, equities research analysts anticipate that Virtusa Corp. will post $1.63 earnings per share for the current year.
In related news, CEO Kris A. Canekeratne sold 18,000 shares of the stock in a transaction that occurred on Thursday, June 2nd. The stock was 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 $28,485,758.28. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Rowland T. Moriarty purchased 15,000 shares of the business’s stock in a transaction that occurred on Thursday, June 9th. The stock was bought at an average cost of $34.57 per share, with a total value of $518,550.00. Following the acquisition, the director now owns 80,003 shares of the company’s stock, valued at approximately $2,765,703.71. The disclosure for this purchase can be found here.
An institutional investor recently raised its position in Virtusa Corp. stock. Dimensional Fund Advisors LP increased its stake in shares of Virtusa Corp. (NASDAQ:VRTU) by 2.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund 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 4.56% of Virtusa Corp. worth $56,136,000 at the end of the most recent reporting period.
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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