Virtusa Corp. (VRTU) Short Interest Up 80.8% in September
Virtusa Corp. (NASDAQ:VRTU) was the recipient of a large growth in short interest in September. As of September 15th, there was short interest totalling 1,414,961 shares, a growth of 80.8% from the August 31st total of 782,757 shares. Based on an average daily volume of 373,198 shares, the days-to-cover ratio is currently 3.8 days. Approximately 5.3% of the company’s stock are short sold.
A number of analysts have commented on VRTU shares. Zacks Investment Research cut Virtusa Corp. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 16th. Wedbush started coverage on Virtusa Corp. in a research report on Thursday, September 8th. They set a “neutral” rating and a $29.00 price target for the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of Virtusa Corp. in a research report on Monday, August 22nd. TheStreet cut Virtusa Corp. from a “buy” rating to a “hold” rating in a research report on Monday, August 15th. Finally, Maxim Group reaffirmed a “buy” rating and set a $42.00 price target (down previously from $46.00) on shares of Virtusa Corp. in a research report on Wednesday, June 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.22.
In other Virtusa Corp. news, CEO Kris A. Canekeratne sold 24,000 shares of Virtusa Corp. stock in a transaction dated Friday, September 9th. The stock was sold at an average price of $26.01, for a total transaction of $624,240.00. Following the completion of the sale, the chief executive officer now owns 826,133 shares of the company’s stock, valued at approximately $21,487,719.33. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Ronald T. Maheu sold 3,423 shares of Virtusa Corp. stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $26.25, for a total value of $89,853.75. Following the sale, the director now directly owns 40,533 shares of the company’s stock, valued at approximately $1,063,991.25. The disclosure for this sale can be found here. 9.92% of the stock is owned by insiders.
A number of hedge funds have recently made changes to their positions in the company. Arizona State Retirement System raised its stake in shares of Virtusa Corp. by 1.5% in the first quarter. Arizona State Retirement System now owns 13,855 shares of the company’s stock worth $519,000 after buying an additional 200 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Virtusa Corp. during the first quarter worth about $2,330,000. Legal & General Group Plc raised its stake in shares of Virtusa Corp. by 9.4% in the first quarter. Legal & General Group Plc now owns 7,003 shares of the company’s stock worth $261,000 after buying an additional 602 shares during the period. Tiverton Asset Management LLC raised its stake in shares of Virtusa Corp. by 46.2% in the first quarter. Tiverton Asset Management LLC now owns 182,774 shares of the company’s stock worth $6,846,000 after buying an additional 57,774 shares during the period. Finally, Zebra Capital Management LLC purchased a new stake in shares of Virtusa Corp. during the first quarter worth about $351,000. Hedge funds and other institutional investors own 85.76% of the company’s stock.
Virtusa Corp. (NASDAQ:VRTU) opened at 24.67 on Friday. The stock has a market cap of $736.87 million, a price-to-earnings ratio of 26.02 and a beta of 1.49. The company has a 50 day moving average price of $24.27 and a 200 day moving average price of $30.73. Virtusa Corp. has a 52 week low of $20.74 and a 52 week high of $59.40.
Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.02. Virtusa Corp. had a net margin of 4.24% and a return on equity of 7.38%. The business earned $205.50 million during the quarter, compared to analysts’ expectations of $203.82 million. During the same period last year, the company posted $0.48 EPS. The company’s revenue was up 52.4% on a year-over-year basis. Analysts expect that Virtusa Corp. will post $1.63 EPS for the current fiscal year.
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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