Notable Runner: Virtusa Corporation Can’t Be More Risky. Just Reaches Yearly Low

Notable Runner: Virtusa Corporation Can't Be More Risky. Just Reaches Yearly Low

The stock of Virtusa Corporation (NASDAQ:VRTU) hit a new 52-week low and has $17.45 target or 8.00% below today’s $18.97 share price. The 5 months bearish chart indicates high risk for the $558.83M company. The 1-year low was reported on Oct, 31 by Barchart.com. If the $17.45 price target is reached, the company will be worth $44.71M less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 42,402 shares traded hands. Virtusa Corporation (NASDAQ:VRTU) has declined 46.15% since March 29, 2016 and is downtrending. It has underperformed by 49.62% the S&P500.

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 $3.54M for 39.52 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. Cowen & Co initiated Virtusa Corporation (NASDAQ:VRTU) on Friday, February 19 with “Market Perform” rating. Needham maintained Virtusa Corporation (NASDAQ:VRTU) rating on Thursday, November 5. Needham has “Buy” rating and $65 price target. The company was maintained on Wednesday, June 29 by Maxim Group. The stock has “Buy” rating given by Maxim Group on Wednesday, November 4. The firm earned “Outperform” rating on Thursday, November 5 by Barrington Research. The firm has “Buy” rating given on Wednesday, August 10 by Cantor Fitzgerald. Suntrust Robinson upgraded Virtusa Corporation (NASDAQ:VRTU) on Friday, February 19 to “Buy” rating. Sterne Agee CRT initiated the stock with “Neutral” rating in Thursday, December 17 report. The firm has “Neutral” rating given on Friday, September 9 by Wedbush. Barrington Research initiated Virtusa Corporation (NASDAQ:VRTU) rating on Thursday, August 20. Barrington Research has “Outperform” rating and $57 price target.

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 is 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.
Retail Bank Of America De last reported 16,044 shares in the company. First Trust L P has 8,880 shares for 0% of their US portfolio. Finemark Bancorp And Tru has 51 shares for 0% of their US portfolio. Macquarie Group Inc last reported 5,200 shares in the company. Moreover, Gsa Prtn Limited Liability Partnership has 0.02% invested in Virtusa Corporation (NASDAQ:VRTU) for 12,353 shares. Tiverton Asset Mgmt Limited Liability Co accumulated 0.39% or 186,875 shares. Capstone Asset Mngmt accumulated 10,720 shares or 0.01% of the stock. Fil accumulated 0.01% or 93,915 shares. Henderson Group Pcl has 0.1% invested in the company for 417,757 shares. Quantbot Technologies Lp accumulated 0% or 415 shares. Credit Suisse Ag, a Switzerland-based fund reported 64,771 shares. J Goldman & Limited Partnership holds 0.03% of its portfolio in Virtusa Corporation (NASDAQ:VRTU) for 22,100 shares. State Street last reported 562,837 shares in the company. Panagora Asset Inc holds 0% of its portfolio in Virtusa Corporation (NASDAQ:VRTU) for 21,730 shares. Blackrock Group Inc has 29,580 shares for 0% of their US portfolio.

Insider Transactions: Since May 19, 2016, the stock had 2 insider buys, and 4 selling transactions for $512,819 net activity. 3,423 Virtusa Corporation (NASDAQ:VRTU) shares with value of $89,854 were sold by MAHEU RONALD T. The insider Moriarty Rowland T bought 15,000 shares worth $518,503. Shares for $210,809 were sold by Modder Roger Keith on Thursday, May 19. 18,000 shares were sold by Canekeratne Kris A, worth $630,342.

More news for Virtusa Corporation (NASDAQ:VRTU) were recently published by: Economictimes.Indiatimes.com, which released: “Hitachi and Virtusa Corporation enter into partnership” on March 30, 2016. Businesswire.com‘s article titled: “Virtusa Receives Silver Stevie® Award for Excellence in Technical Innovation” and published on October 13, 2015 is yet another important article.

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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