Trade Report: Today, Virtusa Corp. (VRTU) Receives $35.25 Average Price Target from Analysts

Today, Virtusa Corp. (VRTU) Receives $35.25 Average Price Target from Analysts

Shares of Virtusa Corp. (NASDAQ:VRTU) have been assigned a consensus rating of “Hold” from the ten brokerages that are currently covering the company. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $35.25.

A number of research analysts recently weighed in on VRTU shares. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $40.00 price target on shares of Virtusa Corp. in a research note on Monday, August 8th. Maxim Group decreased their price target on shares of Virtusa Corp. from $42.00 to $38.00 and set a “buy” rating on the stock in a research note on Tuesday, August 9th. Needham & Company LLC reaffirmed a “buy” rating and issued a $32.00 price target (down from $45.00) on shares of Virtusa Corp. in a research note on Thursday, August 11th. Zacks Investment Research lowered shares of Virtusa Corp. from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 16th. Finally, TheStreet lowered shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th.

In other news, CEO Kris A. Canekeratne sold 24,000 shares of Virtusa Corp. stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $26.01, for a total transaction of $624,240.00. Following the sale, the chief executive officer now owns 826,133 shares of the company’s stock, valued at approximately $21,487,719.33. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Ronald T. Maheu sold 3,423 shares of Virtusa Corp. stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $26.25, for a total transaction of $89,853.75. Following the sale, the director now directly owns 40,533 shares in the company, valued at approximately $1,063,991.25. The disclosure for this sale can be found here. Insiders own 9.92% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. PineBridge Investments L.P. raised its stake in Virtusa Corp. by 4.2% in the second quarter. PineBridge Investments L.P. now owns 3,454 shares of the company’s stock valued at $100,000 after buying an additional 139 shares during the last quarter. Teacher Retirement System of Texas increased its stake in Virtusa Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,961 shares of the company’s stock valued at $114,000 after buying an additional 482 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in Virtusa Corp. by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,040 shares of the company’s stock valued at $149,000 after buying an additional 100 shares during the period. Mason Street Advisors LLC bought a new stake in Virtusa Corp. during the second quarter valued at $154,000. Finally, Fifth Third Bancorp increased its stake in Virtusa Corp. by 57.1% in the second quarter. Fifth Third Bancorp now owns 5,499 shares of the company’s stock valued at $159,000 after buying an additional 1,998 shares during the period. 91.30% of the stock is currently owned by hedge funds and other institutional investors.

Virtusa Corp. (NASDAQ:VRTU) opened at 21.72 on Tuesday. The stock’s 50 day moving average price is $20.69 and its 200-day moving average price is $26.50. Virtusa Corp. has a 1-year low of $18.03 and a 1-year high of $49.98. The company has a market cap of $650.77 million, a PE ratio of 31.62 and a beta of 1.38.

Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.27 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by $0.01. The company earned $164.80 million during the quarter, compared to analysts’ expectations of $209.43 million. Virtusa Corp. had a net margin of 2.79% and a return on equity of 5.34%. The company’s quarterly revenue was up 46.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. On average, analysts forecast that Virtusa Corp. will post $1.33 earnings per share for the current year.

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