Virtusa (NASDAQ:VRTU) Cut to Hold at BidaskClub
A number of other equities analysts also recently commented on VRTU. Zacks Investment Research downgraded Virtusa from a hold rating to a sell rating in a report on Friday, September 13th. Needham & Company LLC downgraded Virtusa from a strong-buy rating to a buy rating and dropped their price objective for the stock from $50.00 to $48.00 in a report on Tuesday, September 10th. ValuEngine downgraded Virtusa from a buy rating to a hold rating in a report on Saturday, August 10th. Barrington Research restated a buy rating and issued a $60.00 price objective on shares of Virtusa in a report on Tuesday, September 17th. Finally, TheStreet downgraded Virtusa from a b- rating to a c+ rating in a report on Wednesday, May 29th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of Buy and an average price target of $54.17.
Shares of NASDAQ VRTU opened at $38.75 on Wednesday. Virtusa has a twelve month low of $31.99 and a twelve month high of $57.00. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.99. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 29.55, a PEG ratio of 1.12 and a beta of 1.20. The firm has a 50-day moving average of $37.88 and a two-hundred day moving average of $45.89.
In other Virtusa news, CEO Kris A. Canekeratne sold 7,500 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $44.31, for a total transaction of $332,325.00. Following the transaction, the chief executive officer now owns 723,926 shares in the company, valued at $32,077,161.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Samir Dhir sold 4,000 shares of the firm’s stock in a transaction on Friday, August 30th. The stock was sold at an average price of $35.91, for a total transaction of $143,640.00. Following the completion of the sale, the insider now owns 157,780 shares in the company, valued at approximately $5,665,879.80. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $1,024,515 in the last 90 days. 4.73% of the stock is currently owned by corporate insiders.
Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. grew its stake in shares of Virtusa by 2.3% in the second quarter. BlackRock Inc. now owns 4,112,285 shares of the information technology services provider’s stock worth $182,708,000 after acquiring an additional 93,202 shares during the last quarter. FMR LLC grew its stake in shares of Virtusa by 2.9% in the first quarter. FMR LLC now owns 2,991,604 shares of the information technology services provider’s stock worth $159,901,000 after acquiring an additional 83,217 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Virtusa by 1.3% in the second quarter. Vanguard Group Inc. now owns 2,466,129 shares of the information technology services provider’s stock worth $109,570,000 after acquiring an additional 30,982 shares during the last quarter. FIL Ltd grew its stake in shares of Virtusa by 1.3% in the first quarter. FIL Ltd now owns 812,470 shares of the information technology services provider’s stock worth $43,427,000 after acquiring an additional 10,100 shares during the last quarter. Finally, GW&K Investment Management LLC grew its stake in shares of Virtusa by 38.6% in the second quarter. GW&K Investment Management LLC now owns 805,998 shares of the information technology services provider’s stock worth $35,810,000 after acquiring an additional 224,654 shares during the last quarter. Institutional investors and hedge funds own 88.24% of the company’s stock.
Virtusa Company Profile
Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.
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