Virtusa Corp. (VRTU) Trading Down 1.5%
Virtusa Corp. (NASDAQ:VRTU) fell 1.5% on Thursday . The company traded as low as $25.03 and last traded at $25.83, with a volume of 183,682 shares. The stock had previously closed at $26.23.
A number of brokerages have weighed in on VRTU. Maxim Group lowered their target price 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 reiterated a “buy” rating and issued a $50.00 target price on shares of Virtusa Corp. in a report on Sunday, May 15th. Zacks Investment Research downgraded Virtusa Corp. from a “hold” rating to a “sell” rating in a report on Saturday, May 21st. Cantor Fitzgerald reiterated a “buy” rating on shares of Virtusa Corp. in a report on Monday, May 16th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $45.00 target price (down from $60.00) on shares of Virtusa Corp. in a report on Tuesday, May 17th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. Virtusa Corp. has an average rating of “Hold” and a consensus target price of $40.88.
The company’s 50 day moving average is $25.25 and its 200-day moving average is $31.98. The stock has a market capitalization of $782.27 million and a PE ratio of 27.63.
Virtusa Corp. (NASDAQ:VRTU) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.18 EPS for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $205.50 million for the quarter, compared to the consensus estimate 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 quarter last year, the company posted $0.48 earnings per share. Analysts expect that Virtusa Corp. will post $1.63 EPS for the current year.
In related news, Director Rowland T. Moriarty bought 15,000 shares of the company’s stock in a transaction that occurred on Thursday, June 9th. The stock was bought at an average cost of $34.57 per share, for a total transaction of $518,550.00. Following the acquisition, the director now directly owns 80,003 shares of the company’s stock, valued at approximately $2,765,703.71. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Rowland T. Moriarty acquired 15,500 shares of the company’s stock in a transaction on Friday, June 10th. The stock was acquired at an average price of $33.81 per share, with a total value of $524,055.00. Following the acquisition, 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.
Virtusa Corporation (Virtusa) is an information technology services company. The Company’s services include information technology (IT) and business consulting, digital enablement services, user experience (UX) design, development of IT applications, maintenance and support services, systems integration, infrastructure and managed services.
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