Virtusa Corp. (NASDAQ:VRTU) was the recipient of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 1,414,961 shares, an increase of 80.8% from the August 31st total of 782,757 shares. Based on an average trading volume of 373,198 shares, the days-to-cover ratio is presently 3.8 days. Currently, 5.3% of the company’s shares are sold short.
In related news, Director Ronald T. Maheu sold 3,423 shares of the firm’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $26.25, for a total transaction of $89,853.75. Following the sale, the director now owns 40,533 shares in the company, valued at $1,063,991.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 24,000 shares of the firm’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $26.01, for a total transaction of $624,240.00. Following the sale, the chief executive officer now owns 826,133 shares in the company, valued at approximately $21,487,719.33. The disclosure for this sale can be found here. Corporate insiders own 9.92% of the company’s stock.
Several large investors have recently made changes to their positions in VRTU. Mason Street Advisors LLC purchased a new stake in shares of Virtusa Corp. during the second quarter worth about $154,000. Royal Bank of Canada boosted its stake in shares of Virtusa Corp. by 6.2% in the second quarter. Royal Bank of Canada now owns 187,709 shares of the company’s stock worth $5,421,000 after buying an additional 10,913 shares during the period. Schwab Charles Investment Management Inc. boosted its stake in shares of Virtusa Corp. by 1.6% in the second quarter. Schwab Charles Investment Management Inc. now owns 92,733 shares of the company’s stock worth $2,679,000 after buying an additional 1,482 shares during the period. Fiera Capital Corp purchased a new stake in shares of Virtusa Corp. during the second quarter worth about $2,909,000. Finally, Numeric Investors LLC boosted its stake in shares of Virtusa Corp. by 13.7% in the second quarter. Numeric Investors LLC now owns 13,300 shares of the company’s stock worth $384,000 after buying an additional 1,600 shares during the period. Institutional investors and hedge funds own 85.76% of the company’s stock.
Virtusa Corp. (NASDAQ:VRTU) opened at 24.67 on Friday. The firm has a market cap of $736.87 million, a price-to-earnings ratio of 26.02 and a beta of 1.49. Virtusa Corp. has a 12-month low of $20.74 and a 12-month high of $59.40. The company’s 50 day moving average is $24.27 and its 200 day moving average is $30.73.
Virtusa Corp. (NASDAQ:VRTU) last announced its quarterly earnings data on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.16 by $0.02. Virtusa Corp. had a net margin of 4.24% and a return on equity of 7.38%. The company earned $205.50 million during the quarter, compared to analysts’ expectations of $203.82 million. During the same quarter in the prior year, the company posted $0.48 EPS. The business’s revenue was up 52.4% on a year-over-year basis. On average, equities analysts anticipate that Virtusa Corp. will post $1.63 earnings per share for the current year.
A number of equities analysts have weighed in on VRTU shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $40.00 price target on shares of Virtusa Corp. in a report on Wednesday, June 29th. Maxim Group reiterated a “buy” rating and issued a $42.00 price target (down previously from $46.00) on shares of Virtusa Corp. in a report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Virtusa Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. Wedbush started coverage on shares of Virtusa Corp. in a report on Thursday, September 8th. They issued a “neutral” rating and a $29.00 price target on the stock. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $32.00 price target (down previously from $45.00) on shares of Virtusa Corp. in a report on Thursday, August 11th. 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 company presently has a consensus rating of “Hold” and an average price target of $38.22.
Virtusa Corp. Company Profile
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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