Virtusa Corporation (NASDAQ:VRTU) was upgraded by research analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued to investors on Sunday.

A number of other research analysts also recently weighed in on the company. ValuEngine upgraded Virtusa Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, June 27th. Zacks Investment Research upgraded Virtusa Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 27th. Barrington Research set a $35.00 price target on Virtusa Corporation and gave the company a “buy” rating in a report on Thursday, May 25th. SunTrust Banks, Inc. set a $32.00 price target on Virtusa Corporation and gave the company a “buy” rating in a report on Friday, May 19th. Finally, Maxim Group reiterated a “hold” rating on shares of Virtusa Corporation in a report on Tuesday, May 16th. Four research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $34.43.

Virtusa Corporation (VRTU) traded up 3.07% during trading on Friday, reaching $31.87. The company had a trading volume of 252,624 shares. The stock has a 50 day moving average price of $29.36 and a 200 day moving average price of $28.66. The firm has a market capitalization of $959.89 million, a price-to-earnings ratio of 81.72 and a beta of 1.69. Virtusa Corporation has a 12 month low of $18.03 and a 12 month high of $34.92.

Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02. Virtusa Corporation had a net margin of 1.38% and a return on equity of 3.50%. The business had revenue of $226 million for the quarter, compared to analysts’ expectations of $226.67 million. During the same quarter in the prior year, the firm posted $0.55 EPS. The business’s quarterly revenue was up 31.5% compared to the same quarter last year. On average, equities research analysts predict that Virtusa Corporation will post $1.53 earnings per share for the current year.

COPYRIGHT VIOLATION WARNING: “Virtusa Corporation (VRTU) Raised to Buy at BidaskClub” was published by American Banking News and is the sole property of of American Banking News. If you are accessing this news story on another site, it was copied illegally and republished in violation of United States & international copyright law. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/07/16/virtusa-corporation-vrtu-raised-to-buy-at-bidaskclub.html.

In other Virtusa Corporation news, CEO Kris A. Canekeratne sold 74,000 shares of the business’s stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $28.76, for a total value of $2,128,240.00. Following the completion of the sale, the chief executive officer now owns 780,315 shares of the company’s stock, valued at $22,441,859.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kris A. Canekeratne sold 26,000 shares of the business’s stock in a transaction dated Monday, June 12th. The stock was sold at an average price of $28.63, for a total value of $744,380.00. Following the completion of the sale, the chief executive officer now directly owns 619,920 shares of the company’s stock, valued at approximately $17,748,309.60. The disclosure for this sale can be found here. In the last three months, insiders have sold 154,115 shares of company stock valued at $4,414,506. Insiders own 9.92% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Eagle Asset Management boosted its stake in shares of Virtusa Corporation by 103.7% in the third quarter. Eagle Asset Management now owns 76,176 shares of the information technology services provider’s stock worth $3,908,000 after buying an additional 38,783 shares in the last quarter. Summit Creek Advisors boosted its stake in shares of Virtusa Corporation by 7.4% in the fourth quarter. Summit Creek Advisors now owns 308,304 shares of the information technology services provider’s stock worth $12,745,000 after buying an additional 21,179 shares in the last quarter. First National Bank of Hutchinson boosted its stake in shares of Virtusa Corporation by 9.3% in the fourth quarter. First National Bank of Hutchinson now owns 27,735 shares of the information technology services provider’s stock worth $1,161,000 after buying an additional 2,366 shares in the last quarter. Russell Frank Co boosted its stake in shares of Virtusa Corporation by 38.8% in the fourth quarter. Russell Frank Co now owns 226,259 shares of the information technology services provider’s stock worth $9,471,000 after buying an additional 63,211 shares in the last quarter. Finally, Scout Investments Inc. bought a new stake in shares of Virtusa Corporation during the fourth quarter worth $1,604,000. 92.05% of the stock is owned by institutional investors.

About Virtusa Corporation

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.

Analyst Recommendations for Virtusa Corporation (NASDAQ:VRTU)

Receive News & Ratings for Virtusa Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Corporation and related companies with MarketBeat.com's FREE daily email newsletter.