Virtusa Corporation (NASDAQ:VRTU) Director Trust Martin sold 3,080 shares of Virtusa Corporation stock in a transaction dated Wednesday, August 30th. The shares were sold at an average price of $35.55, for a total transaction of $109,494.00. Following the transaction, the director now directly owns 22,716 shares of the company’s stock, valued at $807,553.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Virtusa Corporation (NASDAQ:VRTU) traded up 1.32% during mid-day trading on Thursday, reaching $36.20. 36,443 shares of the company’s stock were exchanged. The firm has a market capitalization of $1.06 billion, a P/E ratio of 52.39 and a beta of 1.71. The company’s 50-day moving average is $33.64 and its 200 day moving average is $30.70. Virtusa Corporation has a one year low of $18.03 and a one year high of $37.66.

Virtusa Corporation (NASDAQ:VRTU) last released its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The company had revenue of $227.30 million during the quarter, compared to analyst estimates of $224.46 million. During the same period in the prior year, the firm earned $0.18 earnings per share. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts predict that Virtusa Corporation will post $1.55 earnings per share for the current fiscal year.

Virtusa Corporation announced that its board has approved a stock buyback plan on Wednesday, May 3rd that permits the company to buyback $30.00 million in shares. This buyback authorization permits the information technology services provider to purchase up to 3.3% of its shares through open market purchases. Shares buyback plans are typically an indication that the company’s board believes its stock is undervalued.

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A number of brokerages recently issued reports on VRTU. Needham & Company LLC reissued a “buy” rating and set a $43.00 price target (up from $38.00) on shares of Virtusa Corporation in a research report on Saturday, August 19th. Zacks Investment Research cut shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. Cantor Fitzgerald reissued a “buy” rating and set a $37.00 price target on shares of Virtusa Corporation in a research report on Friday, August 11th. Barrington Research lifted their price target on shares of Virtusa Corporation from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Finally, Maxim Group reissued a “hold” rating on shares of Virtusa Corporation in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $37.00.

Several hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its stake in Virtusa Corporation by 120,287.9% in the first quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock valued at $100,993,000 after buying an additional 3,339,191 shares during the last quarter. Vanguard Group Inc. raised its stake in Virtusa Corporation by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock valued at $60,964,000 after buying an additional 119,133 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Virtusa Corporation by 24.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,880,104 shares of the information technology services provider’s stock valued at $55,276,000 after buying an additional 374,317 shares during the last quarter. Frontier Capital Management Co. LLC raised its stake in Virtusa Corporation by 23.7% in the second quarter. Frontier Capital Management Co. LLC now owns 1,062,888 shares of the information technology services provider’s stock valued at $31,249,000 after buying an additional 203,703 shares during the last quarter. Finally, State Street Corp raised its stake in Virtusa Corporation by 4.0% in the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock valued at $19,774,000 after buying an additional 25,883 shares during the last quarter. 92.17% of the stock is owned by institutional investors and hedge funds.

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.

Insider Buying and Selling by Quarter for Virtusa Corporation (NASDAQ:VRTU)

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