Price Action Alert: What’s Next for Virtusa Corporation After Today’s Big Increase?

Price Action Alert: What's Next for Virtusa Corporation After Today's Big Increase?

The stock of Virtusa Corporation (NASDAQ:VRTU) is a huge mover today! About 984,708 shares traded hands or 163.36% up from the average. Virtusa Corporation (NASDAQ:VRTU) has declined 47.70% since April 20, 2016 and is downtrending. It has underperformed by 52.25% the S&P500.
The move comes after 6 months positive chart setup for the $639.37 million company. It was reported on Nov, 22 by Barchart.com. We have $22.63 PT which if reached, will make NASDAQ:VRTU worth $38.36 million more.

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. The stock of Virtusa Corporation (NASDAQ:VRTU) earned “Buy” rating by Needham on Thursday, November 5. Maxim Group maintained Virtusa Corporation (NASDAQ:VRTU) rating on Wednesday, November 4. Maxim Group has “Buy” rating and $66 price target. Needham maintained Virtusa Corporation (NASDAQ:VRTU) on Thursday, November 10 with “Buy” rating. The company was maintained on Wednesday, July 29 by Needham. The stock of Virtusa Corporation (NASDAQ:VRTU) earned “Buy” rating by Cantor Fitzgerald on Friday, October 16. On Thursday, August 20 the stock rating was initiated by Barrington Research with “Outperform”. Barrington Research maintained the shares of VRTU in a report on Thursday, November 5 with “Outperform” rating. The rating was maintained by Maxim Group on Wednesday, June 29 with “Buy”. The rating was initiated by Sterne Agee CRT with “Neutral” on Thursday, December 17. The stock of Virtusa Corporation (NASDAQ:VRTU) has “Buy” rating given on Friday, February 19 by Suntrust Robinson.

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 increased to 1.03 in 2016 Q2. Its up 0.04, from 0.99 in 2016Q1. The ratio increased, 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.
Prudential has 0% invested in the company for 100,621 shares. Nationwide Fund Advsrs accumulated 0.02% or 138,971 shares. Wells Fargo & Mn owns 71,351 shares or 0% of their US portfolio. Tci Wealth Advsr holds 0% or 14 shares in its portfolio. Fifth Third Comml Bank holds 5,499 shares or 0% of its portfolio. Oak Ridge last reported 1.07% of its portfolio in the stock. Invesco Ltd, a Georgia-based fund reported 227,250 shares. Blackrock Fund has 0.01% invested in the company for 1.73M shares. Mutual Of America Capital Limited Liability Company accumulated 0.04% or 71,896 shares. Jpmorgan Chase Communication has 6,224 shares for 0% of their US portfolio. Mycio Wealth Ptnrs Limited Com, a Pennsylvania-based fund reported 57 shares. Retail Bank Of New York Mellon last reported 0% of its portfolio in the stock. Fil Limited accumulated 0.01% or 93,915 shares. Blackrock Institutional Tru Na accumulated 676,876 shares or 0% of the stock. Advsr Asset Mgmt has invested 0.01% of its portfolio in Virtusa Corporation (NASDAQ:VRTU).

Insider Transactions: Since May 31, 2016, the stock had 2 buys, and 3 insider sales for $302,010 net activity. Shares for $630,342 were sold by Canekeratne Kris A on Tuesday, May 31. Moriarty Rowland T bought $524,036 worth of Virtusa Corporation (NASDAQ:VRTU) on Friday, June 10. On Monday, September 12 MAHEU RONALD T sold $89,854 worth of the stock or 3,423 shares.

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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