The stock of Virtusa Corporation (NASDAQ:VRTU) is a huge mover today! About 375,312 shares traded hands or 13.37% up from the average. Virtusa Corporation (NASDAQ:VRTU) has declined 47.27% since April 13, 2016 and is downtrending. It has underperformed by 51.20% the S&P500.
The move comes after 6 months negative chart setup for the $570.56 million company. It was reported on Nov, 15 by Barchart.com. We have $18.08 PT which if reached, will make NASDAQ:VRTU worth $34.23M less.
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 17 analyst reports since July 29, 2015 according to StockzIntelligence Inc. Needham maintained it with “Buy” rating and $55 target price in Wednesday, July 29 report. Needham maintained it with “Buy” rating and $65 target price in Thursday, November 5 report. The firm earned “Neutral” rating on Thursday, December 17 by Sterne Agee CRT. The rating was maintained by Barrington Research with “Outperform” on Tuesday, February 9. Wedbush initiated the stock with “Neutral” rating in Friday, September 9 report. The stock of Virtusa Corporation (NASDAQ:VRTU) earned “Buy” rating by Needham on Thursday, November 10. Cowen & Co initiated Virtusa Corporation (NASDAQ:VRTU) on Friday, February 19 with “Market Perform” rating. The firm earned “Buy” rating on Thursday, November 10 by Maxim Group. The firm has “Buy” rating by Needham given on Tuesday, February 9. Barrington Research maintained Virtusa Corporation (NASDAQ:VRTU) on Thursday, November 5 with “Outperform” rating.
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 dived, 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.
Guggenheim Capital Ltd Liability Corp accumulated 32,021 shares or 0% of the stock. Mackenzie Financial Corp has 8,070 shares for 0% of their US portfolio. Jpmorgan Chase And holds 6,224 shares or 0% of its portfolio. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 585 shares. Moreover, Oak Ridge Invests Lc has 1.07% invested in Virtusa Corporation (NASDAQ:VRTU) for 1.44M shares. Numeric Ltd Limited Liability Company owns 13,300 shares or 0% of their US portfolio. Geode Cap Management Limited Liability Corp has 0% invested in the company for 194,425 shares. State Bank Of Montreal Can reported 197,971 shares or 0.01% of all its holdings. Teachers Retirement Of The State Of Kentucky has 11,200 shares for 0% of their US portfolio. Alphaone Invest Services Lc reported 65,959 shares or 0.7% of all its holdings. Earnest Lc last reported 1,100 shares in the company. Loomis Sayles Company Limited Partnership owns 21 shares or 0% of their US portfolio. Portolan Cap Mgmt Ltd Liability Corporation accumulated 1.41% or 338,921 shares. State Of Tennessee Treasury Department accumulated 21,200 shares or 0% of the stock. Advsrs Asset Management reported 18,861 shares or 0.01% of all its holdings.
Insider Transactions: Since May 19, 2016, the stock had 2 buys, and 3 sales for $302,010 net activity. 15,500 shares were bought by Moriarty Rowland T, worth $524,036. $210,809 worth of Virtusa Corporation (NASDAQ:VRTU) shares were sold by Modder Roger Keith. MAHEU RONALD T sold $89,854 worth of Virtusa Corporation (NASDAQ:VRTU) on Monday, September 12. $624,353 worth of Virtusa Corporation (NASDAQ:VRTU) was sold by Canekeratne Kris A on Wednesday, September 7.
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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