Trade Report: Today, Brokerages Set Virtusa Corp. (VRTU) PT at $35.25

Today, Brokerages Set Virtusa Corp. (VRTU) PT at $35.25

Shares of Virtusa Corp. (NASDAQ:VRTU) have received an average rating of “Hold” from the ten research firms that are currently covering the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $35.25.

A number of research firms have commented on VRTU. Maxim Group decreased their target price on Virtusa Corp. from $42.00 to $38.00 and set a “buy” rating on the stock in a research report on Tuesday, August 9th. Cantor Fitzgerald reiterated a “buy” rating and set a $40.00 target price on shares of Virtusa Corp. in a research report on Monday, August 8th. Wedbush began coverage on Virtusa Corp. in a research report on Thursday, September 8th. They set a “neutral” rating and a $29.00 target price on the stock. Zacks Investment Research upgraded Virtusa Corp. from a “strong sell” rating to a “hold” rating in a research report on Wednesday, October 12th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $32.00 target price (down from $45.00) on shares of Virtusa Corp. in a research report on Thursday, August 11th.

Shares of Virtusa Corp. (NASDAQ:VRTU) opened at 21.74 on Tuesday. The firm has a market capitalization of $651.37 million, a P/E ratio of 31.64 and a beta of 1.38. Virtusa Corp. has a 12 month low of $18.03 and a 12 month high of $49.98. The company’s 50 day moving average price is $20.54 and its 200-day moving average price is $26.39.

Virtusa Corp. (NASDAQ:VRTU) last announced its quarterly earnings data 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. Virtusa Corp. had a return on equity of 5.34% and a net margin of 2.79%. The business had revenue of $164.80 million for the quarter, compared to analyst estimates of $209.43 million. During the same period in the prior year, the company earned $0.50 EPS. The company’s revenue was up 46.9% on a year-over-year basis. On average, equities analysts predict that Virtusa Corp. will post $1.33 earnings per share for the current fiscal year.

In related news, Director Ronald T. Maheu sold 3,423 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $26.25, for a total transaction of $89,853.75. Following the transaction, the director now directly owns 40,533 shares in the company, valued at $1,063,991.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kris A. Canekeratne sold 24,000 shares of the stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $26.01, for a total value of $624,240.00. Following the transaction, the chief executive officer now owns 826,133 shares in the company, valued at $21,487,719.33. The disclosure for this sale can be found here. Corporate insiders own 9.92% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the company. PineBridge Investments L.P. increased its position 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 period. Teacher Retirement System of Texas increased its position 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 position 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 acquired a new position in Virtusa Corp. during the second quarter valued at $154,000. Finally, Fifth Third Bancorp increased its position 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. Hedge funds and other institutional investors own 91.30% of the company’s stock.

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