Virtusa Corp. (VRTU) Reaches New 1-Year Low at $27.20
Virtusa Corp. (NASDAQ:VRTU)’s share price reached a new 52-week low on Wednesday . The company traded as low as $27.20 and last traded at $27.63, with a volume of 59,766 shares. The stock had previously closed at $27.79.
A number of research firms have weighed in on VRTU. Zacks Investment Research upgraded Virtusa Corp. from a “sell” rating to a “buy” rating and set a $42.00 price target for the company in a report on Thursday, April 21st. Maxim Group cut their target price on Virtusa Corp. from $58.00 to $55.00 and set a “buy” rating on the stock in a research report on Friday, April 22nd. Needham & Company LLC reaffirmed a “buy” rating and issued a $45.00 target price (down from $60.00) on shares of Virtusa Corp. in a research report on Tuesday, May 17th. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Virtusa Corp. in a research report on Monday, May 16th. Finally, Barrington Research cut their target price on Virtusa Corp. from $50.00 to $46.00 and set an “outperform” rating on the stock in a research report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $44.78.
The stock has a market cap of $816.63 million and a price-to-earnings ratio of 18.32. The stock’s 50 day moving average is $32.79 and its 200-day moving average is $36.42.
Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings data on Monday, May 16th. The company reported $0.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.44 by $0.11. The company had revenue of $171.90 million for the quarter, compared to analyst estimates of $171.42 million. The business’s revenue was up 36.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.51 EPS. On average, equities research analysts predict that Virtusa Corp. will post $2.13 earnings per share for the current year.
In other Virtusa Corp. news, Director Rowland T. Moriarty bought 15,500 shares of the stock in a transaction on Friday, June 10th. The shares were purchased at an average price of $33.81 per share, with a total value of $524,055.00. Following the acquisition, the director now directly owns 94,303 shares of the company’s stock, valued at approximately $3,188,384.43. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, April 18th. The shares were sold at an average price of $37.19, for a total value of $148,760.00. Following the completion of the sale, the chief executive officer now directly owns 821,415 shares in the company, valued at approximately $30,548,423.85. The disclosure for this sale can be found here.
A number of hedge funds have added to or reduced their stakes in VRTU. 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 period. Trexquant Investment LP acquired a new stake in Virtusa Corp. during the fourth quarter worth about $1,639,000. Fiduciary Management Associates LLC raised its stake in Virtusa Corp. by 41.1% in the fourth quarter. Fiduciary Management Associates LLC now owns 528,579 shares of the company’s stock worth $21,853,000 after buying an additional 154,050 shares during the period. Principal Financial Group Inc. raised its stake in Virtusa Corp. by 1.0% in the fourth quarter. Principal Financial Group Inc. now owns 179,003 shares of the company’s stock worth $7,400,000 after buying an additional 1,736 shares during the period. Finally, Mutual of America Capital Management LLC raised its stake in 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 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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