A number of research firms have changed their ratings and price targets for Virtusa Corporation (NASDAQ: VRTU):

  • 8/8/2017 – Virtusa Corporation had its “hold” rating reaffirmed by analysts at Maxim Group.
  • 7/28/2017 – Virtusa Corporation had its “buy” rating reaffirmed by analysts at Cowen and Company. They now have a $36.00 price target on the stock.
  • 7/25/2017 – Virtusa Corporation was upgraded by analysts at BidaskClub from a “buy” rating to a “strong-buy” rating.
  • 7/19/2017 – Virtusa Corporation was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $36.00 price target on the stock. According to Zacks, “Virtusa Corporation is a global information technology services company providing IT consulting, technology implementation and application outsourcing services. Using its enhanced global delivery model, innovative platforming approach and industry expertise, Virtusa provides cost-effective services that enable its clients to use IT to enhance business performance, accelerate time-to-market, increase productivity and improve customer service. “
  • 7/16/2017 – Virtusa Corporation was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 7/8/2017 – Virtusa Corporation was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/27/2017 – Virtusa Corporation was upgraded by analysts at ValuEngine from a “sell” rating to a “hold” rating.
  • 6/27/2017 – Virtusa Corporation was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “hold” rating. According to Zacks, “Virtusa Corporation is a global information technology services company providing IT consulting, technology implementation and application outsourcing services. Using its enhanced global delivery model, innovative platforming approach and industry expertise, Virtusa provides cost-effective services that enable its clients to use IT to enhance business performance, accelerate time-to-market, increase productivity and improve customer service. “

Shares of Virtusa Corporation (VRTU) traded up 4.45% during mid-day trading on Tuesday, hitting $33.30. The company’s stock had a trading volume of 634,043 shares. Virtusa Corporation has a 1-year low of $18.03 and a 1-year high of $34.92. The company has a 50-day moving average price of $31.33 and a 200-day moving average price of $29.73. The stock has a market cap of $1.00 billion, a PE ratio of 85.38 and a beta of 1.71.

Virtusa Corporation (NASDAQ:VRTU) last announced its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.27 by $0.02. The company had revenue of $227.30 million during the quarter, compared to the consensus estimate of $224.46 million. Virtusa Corporation had a net margin of 1.38% and a return on equity of 3.50%. Virtusa Corporation’s revenue was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.18 EPS. Analysts predict that Virtusa Corporation will post $1.54 EPS for the current fiscal year.

In other news, CEO Kris A. Canekeratne sold 74,000 shares of the firm’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 transaction, the chief executive officer now owns 780,315 shares in the company, valued at approximately $22,441,859.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the firm’s stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $33.63, for a total value of $403,560.00. Following the completion of the transaction, the chief executive officer now owns 587,920 shares of the company’s stock, valued at approximately $19,771,749.60. The disclosure for this sale can be found here. Insiders sold a total of 166,115 shares of company stock valued at $4,818,066 in the last 90 days. 5.96% of the stock is owned by corporate insiders.

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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