The stock of Virtusa Corporation (NASDAQ:VRTU) is a huge mover today! The stock decreased 3.69% or $0.91 during the last trading session, hitting $23.77. About 183,266 shares traded hands. Virtusa Corporation (NASDAQ:VRTU) has declined 33.86% since March 1, 2016 and is downtrending. It has underperformed by 46.08% the S&P500.
The move comes after 5 months negative chart setup for the $710.28M company. It was reported on Oct, 4 by Barchart.com. We have $22.34 PT which if reached, will make NASDAQ:VRTU worth $42.62 million less.
Analysts await Virtusa Corporation (NASDAQ:VRTU) to report earnings on November, 2. They expect $0.12 earnings per share, down 72.09% or $0.31 from last year’s $0.43 per share. VRTU’s profit will be $3.59 million for 49.52 P/E if the $0.12 EPS becomes a reality. After $-0.01 actual earnings per share reported by Virtusa Corporation for the previous quarter, Wall Street now forecasts -1,300.00% EPS growth.
Virtusa Corporation (NASDAQ:VRTU) Ratings Coverage
Out of 8 analysts covering Virtusa (NASDAQ:VRTU), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Virtusa has been the topic of 15 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Cantor Fitzgerald initiated the shares of VRTU in a report on Friday, October 16 with “Buy” rating. The stock of Virtusa Corporation (NASDAQ:VRTU) has “Outperform” rating given on Tuesday, February 9 by Barrington Research. The firm has “Neutral” rating given on Friday, September 9 by Wedbush. Cowen & Co initiated the shares of VRTU in a report on Friday, February 19 with “Market Perform” rating. The stock has “Outperform” rating given by Barrington Research on Thursday, November 5. The company was maintained on Wednesday, August 10 by Cantor Fitzgerald. The firm has “Buy” rating given on Thursday, November 5 by Needham. The stock has “Neutral” rating given by Sterne Agee CRT on Thursday, December 17. The rating was maintained by Needham on Tuesday, February 9 with “Buy”. The stock of Virtusa Corporation (NASDAQ:VRTU) earned “Buy” rating by Needham on Wednesday, July 29.
According to Zacks Investment Research, “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.”
Insitutional Activity: The institutional sentiment decreased to 0.99 in Q2 2016. Its down 0.31, from 1.3 in 2016Q1. The ratio turned negative, as 27 funds sold all Virtusa Corporation shares owned while 47 reduced positions. 18 funds bought stakes while 55 increased positions. They now own 25.03 million shares or 1.85% less from 25.50 million shares in 2016Q1.
Assetmark holds 0.01% of its portfolio in Virtusa Corporation (NASDAQ:VRTU) for 18,764 shares. The New York-based Blackrock Inc has invested 0% in Virtusa Corporation (NASDAQ:VRTU). Pnc Fincl Group Inc, a Pennsylvania-based fund reported 21,097 shares. Granahan Invest Mngmt Ma holds 0.37% or 348,388 shares in its portfolio. Metropolitan Life Insurance Ny last reported 0% of its portfolio in the stock. New York State Teachers Retirement Sys has invested 0% of its portfolio in Virtusa Corporation (NASDAQ:VRTU). Blackrock Fund Advsrs has 1.73 million shares for 0.01% of their US portfolio. Thomson Horstmann And Bryant, a Connecticut-based fund reported 19,548 shares. Tiverton Asset Mngmt Limited Com accumulated 186,875 shares or 0.39% of the stock. Zebra Capital Limited Liability Corporation holds 0.12% of its portfolio in Virtusa Corporation (NASDAQ:VRTU) for 12,328 shares. State Board Of Administration Of Florida Retirement Sys owns 22,329 shares or 0% of their US portfolio. D E Shaw & Comm Inc has 0% invested in the company for 81,879 shares. Moreover, Principal Group Inc has 0.01% invested in Virtusa Corporation (NASDAQ:VRTU) for 192,157 shares. Pacad owns 2,200 shares or 0.01% of their US portfolio. The Pennsylvania-based Alphaone Invest Limited Liability Co has invested 0.7% in Virtusa Corporation (NASDAQ:VRTU).
Insider Transactions: Since April 5, 2016, the stock had 2 insider buys, and 5 selling transactions for $735,692 net activity. Another trade for 6,500 shares valued at $210,809 was made by Modder Roger Keith on Thursday, May 19. $518,503 worth of Virtusa Corporation (NASDAQ:VRTU) was bought by Moriarty Rowland T on Wednesday, June 8. Canekeratne Kris A sold $222,873 worth of stock. $89,854 worth of Virtusa Corporation (NASDAQ:VRTU) shares were sold by MAHEU RONALD T.
Another recent and important Virtusa Corporation (NASDAQ:VRTU) news was published by Economictimes.Indiatimes.com which published an article titled: “Hitachi and Virtusa Corporation enter into partnership” on March 30, 2016.
VRTU Company Profile
Virtusa Corporation (Virtusa), incorporated on April 19, 2000, 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. The Company’s services enable its clients to accelerate business outcomes by consolidating, rationalizing and modernizing the clients’ core customer-facing processes into one or more core systems. The Firm delivers solutions through a global delivery model, applying advanced methods, such as Agile, a technique designed to accelerate application development. The Firm also uses its consulting methodology, which it refers to as Accelerated Solution Design (ASD).
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