Short Interest in Virtusa Co. (NASDAQ:VRTU) Increases By 20.3%

Virtusa Co. (NASDAQ:VRTU) saw a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,600,000 shares, a growth of 20.3% from the June 30th total of 1,330,000 shares. Based on an average trading volume of 296,100 shares, the short-interest ratio is currently 5.4 days. Approximately 5.8% of the shares of the company are sold short.

A number of large investors have recently bought and sold shares of the business. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Virtusa by 16.3% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,844 shares of the information technology services provider’s stock valued at $81,000 after acquiring an additional 399 shares in the last quarter. Advisor Group Holdings Inc. purchased a new position in Virtusa during the 1st quarter valued at about $28,000. Alliancebernstein L.P. grew its holdings in shares of Virtusa by 2.4% during the fourth quarter. Alliancebernstein L.P. now owns 46,093 shares of the information technology services provider’s stock worth $2,089,000 after buying an additional 1,100 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Virtusa by 1.2% during the first quarter. Rhumbline Advisers now owns 94,038 shares of the information technology services provider’s stock worth $2,671,000 after buying an additional 1,110 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Virtusa by 39.7% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,972 shares of the information technology services provider’s stock worth $129,000 after buying an additional 1,128 shares in the last quarter. Hedge funds and other institutional investors own 92.94% of the company’s stock.

Several analysts have recently commented on the stock. Needham & Company LLC raised their target price on shares of Virtusa from $35.00 to $46.00 and gave the stock a “buy” rating in a research note on Friday. Zacks Investment Research cut shares of Virtusa from a “hold” rating to a “sell” rating in a research note on Wednesday. BidaskClub upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a research note on Thursday. Barrington Research reiterated a “buy” rating and issued a $38.00 price objective on shares of Virtusa in a research note on Thursday, May 14th. Finally, Rosenblatt Securities cut shares of Virtusa from a “buy” rating to a “neutral” rating in a research note on Thursday, April 16th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $42.50.

NASDAQ:VRTU opened at $40.60 on Friday. The company has a current ratio of 2.70, a quick ratio of 2.70 and a debt-to-equity ratio of 1.31. The firm has a 50-day moving average price of $31.91 and a two-hundred day moving average price of $35.10. Virtusa has a twelve month low of $19.48 and a twelve month high of $52.81. The company has a market capitalization of $1.07 billion, a P/E ratio of 33.01, a price-to-earnings-growth ratio of 1.87 and a beta of 1.38.

Virtusa (NASDAQ:VRTU) last posted its earnings results on Thursday, July 30th. The information technology services provider reported $0.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.14 by $0.06. Virtusa had a net margin of 3.32% and a return on equity of 13.36%. The firm had revenue of $301.06 million during the quarter, compared to the consensus estimate of $287.20 million. On average, equities research analysts predict that Virtusa will post 1.35 earnings per share for the current year.

Virtusa Company Profile

Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

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