Short Interest Worth Watching: Could Virtusa Corporation (NASDAQ:VRTU) Go Up After Its Newest Short Interest Report?

November 21, 2016 - By Clifton Ray   ·   0 Comments

Short Interest Worth Watching: Could Virtusa Corporation (NASDAQ:VRTU) Go Up After Its Newest Short Interest Report?

The stock of Virtusa Corporation (NASDAQ:VRTU) registered an increase of 80.76% in short interest. VRTU’s total short interest was 1.42 million shares in November as published by FINRA. Its up 80.76% from 782,800 shares, reported previously. With 373,200 shares average volume, it will take short sellers 4 days to cover their VRTU’s short positions. The short interest to Virtusa Corporation’s float is 5.19%. The stock decreased 0.30% or $0.06 on November 18, hitting $19.76. Virtusa Corporation (NASDAQ:VRTU) has declined 46.62% since April 19, 2016 and is downtrending. It has underperformed by 50.48% the S&P500.

Virtusa Corporation is an information technology services company. The company has a market cap of $597.80 million. 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. It has a 29.05 P/E ratio. 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.

Insitutional Activity: The institutional sentiment increased to 1.03 in Q2 2016. Its up 0.04, from 0.99 in 2016Q1. The ratio is positive, 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.
D E Shaw accumulated 81,879 shares or 0% of the stock. The Texas-based Teacher Retirement System Of Texas has invested 0% in Virtusa Corporation (NASDAQ:VRTU). Voya Invest Management Ltd Liability has 0% invested in the company for 25,415 shares. Schwab Charles Invest Mgmt has 0% invested in the company for 92,733 shares. Us Bancorp De reported 137 shares or 0% of all its holdings. Legal General Gp Public Ltd Company holds 0% or 7,003 shares in its portfolio. Blackrock Institutional Tru Company Na has invested 0% of its portfolio in Virtusa Corporation (NASDAQ:VRTU). Millennium Management Ltd Limited Liability Company, a New York-based fund reported 23,695 shares. Hartwell J M Partnership last reported 1.78% of its portfolio in the stock. Moreover, California State Teachers Retirement Sys has 0% invested in Virtusa Corporation (NASDAQ:VRTU) for 58,006 shares. Mitchell Capital Mngmt has 0.64% invested in the company for 55,514 shares. Envestnet Asset, a Illinois-based fund reported 1,810 shares. Jpmorgan Chase Communication has 0% invested in the company for 6,224 shares. Cubist Systematic Strategies Ltd Liability Corporation has 24,214 shares for 0.04% of their US portfolio. Mutual Of America Capital Ltd Liability, a New York-based fund reported 71,896 shares.

Insider Transactions: Since May 31, 2016, the stock had 2 buys, and 3 selling transactions for $302,010 net activity. Moriarty Rowland T had bought 15,500 shares worth $524,036. MAHEU RONALD T sold 3,423 shares worth $89,854. The insider Canekeratne Kris A sold $630,342.

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. On Friday, October 16 the stock rating was initiated by Cantor Fitzgerald with “Buy”. The rating was maintained by Maxim Group on Wednesday, November 4 with “Buy”. On Thursday, November 5 the stock rating was maintained by Barrington Research with “Outperform”. Cowen & Co initiated the shares of VRTU in a report on Friday, February 19 with “Market Perform” rating. The stock of Virtusa Corporation (NASDAQ:VRTU) has “Buy” rating given on Wednesday, August 10 by Cantor Fitzgerald. Wedbush initiated it with “Neutral” rating and $29 target price in Friday, September 9 report. The rating was upgraded by Suntrust Robinson to “Buy” on Friday, February 19. The firm has “Buy” rating by Needham given on Tuesday, February 9. The company was maintained on Wednesday, June 29 by Maxim Group. The company was maintained on Thursday, November 10 by Maxim Group.

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).

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.

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By Clifton Ray


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