Maxim Group reaffirmed their hold rating on shares of Virtusa Co. (NASDAQ:VRTU) in a research report report published on Tuesday.

“VRTU posted 4Q:F17 adjusted EPS of $0.42, which was below our $0.44 estimate on higher visa-related costs and local hiring.”,” Maxim Group’s analyst commented.

Other research analysts also recently issued research reports about the company. Wedbush boosted their target price on Virtusa from $35.00 to $40.00 and gave the stock an outperform rating in a research note on Friday, March 3rd. Zacks Investment Research downgraded Virtusa from a hold rating to a strong sell rating in a research note on Thursday, April 6th. Needham & Company LLC boosted their target price on Virtusa from $32.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, March 1st. Finally, Cowen and Company raised Virtusa from a market perform rating to an outperform rating and set a $38.00 target price for the company in a research note on Friday, March 24th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $34.80.

Shares of Virtusa (NASDAQ:VRTU) traded up 1.27% during midday trading on Tuesday, hitting $27.89. 51,491 shares of the company were exchanged. The company has a 50-day moving average of $29.44 and a 200 day moving average of $26.86. The company has a market capitalization of $830.93 million, a P/E ratio of 71.51 and a beta of 1.42. Virtusa has a one year low of $18.03 and a one year high of $36.02.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Virtusa had a return on equity of 4.32% and a net margin of 1.70%. The firm had revenue of $226 million for the quarter, compared to the consensus estimate of $226.67 million. During the same period in the prior year, the company earned $0.55 EPS. The company’s revenue for the quarter was up 31.5% compared to the same quarter last year. On average, equities research analysts expect that Virtusa will post $1.58 earnings per share for the current fiscal year.

WARNING: This piece of content was reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are reading this piece of content on another domain, it was copied illegally and republished in violation of international trademark & copyright laws. The correct version of this piece of content can be accessed at https://www.thecerbatgem.com/2017/05/19/virtusa-co-vrtu-earns-hold-rating-from-maxim-group.html.

In other Virtusa news, Director Ronald T. Maheu sold 7,231 shares of the stock in a transaction that occurred on Monday, February 27th. The shares were sold at an average price of $30.00, for a total transaction of $216,930.00. Following the completion of the sale, the director now owns 45,557 shares of the company’s stock, valued at approximately $1,366,710. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald T. Maheu sold 4,566 shares of the stock in a transaction that occurred on Wednesday, March 1st. The shares were sold at an average price of $32.57, for a total transaction of $148,714.62. Following the sale, the director now directly owns 41,678 shares of the company’s stock, valued at approximately $1,357,452.46. The disclosure for this sale can be found here. Corporate insiders own 9.92% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Virtusa by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 81,973 shares of the information technology services provider’s stock worth $2,477,000 after buying an additional 434 shares in the last quarter. CNA Financial Corp increased its stake in Virtusa by 91.9% in the first quarter. CNA Financial Corp now owns 16,933 shares of the information technology services provider’s stock worth $512,000 after buying an additional 8,108 shares in the last quarter. Clough Capital Partners L P boosted its position in Virtusa by 91.9% in the first quarter. Clough Capital Partners L P now owns 420,800 shares of the information technology services provider’s stock worth $11,598,000 after buying an additional 201,500 shares during the last quarter. Tudor Investment Corp ET AL boosted its position in Virtusa by 89.7% in the first quarter. Tudor Investment Corp ET AL now owns 17,834 shares of the information technology services provider’s stock worth $539,000 after buying an additional 8,434 shares during the last quarter. Finally, State Street Corp boosted its position in Virtusa by 5.2% in the first quarter. State Street Corp now owns 646,579 shares of the information technology services provider’s stock worth $19,539,000 after buying an additional 32,045 shares during the last quarter. 93.20% of the stock is owned by institutional investors and hedge funds.

Virtusa 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.

5 Day Chart for NASDAQ:VRTU

Receive News & Stock Ratings for Virtusa Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Co. and related stocks with our FREE daily email newsletter.