Virtusa Co. (NASDAQ:VRTU) has received an average rating of “Buy” from the eleven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold recommendation, six have assigned a buy recommendation and two have assigned a strong buy recommendation to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $60.33.
VRTU has been the subject of several recent analyst reports. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $57.00 target price for the company in a research note on Sunday, July 15th. Maxim Group restated a “hold” rating on shares of Virtusa in a research note on Monday, April 23rd. Barrington Research set a $64.00 target price on Virtusa and gave the stock a “buy” rating in a research note on Friday, August 10th. ValuEngine upgraded Virtusa from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Finally, BidaskClub cut Virtusa from a “buy” rating to a “hold” rating in a research note on Saturday, June 23rd.
NASDAQ:VRTU traded up $1.16 during trading hours on Wednesday, reaching $54.55. 6,432 shares of the company were exchanged, compared to its average volume of 198,036. The company has a market capitalization of $1.57 billion, a P/E ratio of 60.24, a P/E/G ratio of 1.70 and a beta of 1.19. Virtusa has a 1-year low of $33.50 and a 1-year high of $55.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.50 and a quick ratio of 2.50.
Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Wednesday, August 8th. The information technology services provider reported $0.50 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.47 by $0.03. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. The business had revenue of $300.00 million for the quarter, compared to the consensus estimate of $298.00 million. During the same quarter in the prior year, the business posted $0.25 earnings per share. The firm’s quarterly revenue was up 32.0% compared to the same quarter last year. sell-side analysts anticipate that Virtusa will post 1.55 EPS for the current fiscal year.
In other news, CEO Kris A. Canekeratne sold 3,000 shares of the stock in a transaction on Friday, August 17th. The stock was sold at an average price of $53.17, for a total value of $159,510.00. Following the completion of the transaction, the chief executive officer now directly owns 722,691 shares in the company, valued at approximately $38,425,480.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $53.48, for a total value of $641,760.00. Following the completion of the transaction, the chief executive officer now owns 728,691 shares of the company’s stock, valued at $38,970,394.68. The disclosure for this sale can be found here. Insiders have sold 64,360 shares of company stock valued at $3,316,702 over the last 90 days. Corporate insiders own 5.11% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in shares of Virtusa by 9.2% in the 2nd quarter. BlackRock Inc. now owns 3,886,261 shares of the information technology services provider’s stock valued at $189,183,000 after acquiring an additional 328,497 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Virtusa by 0.8% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,045,108 shares of the information technology services provider’s stock valued at $99,106,000 after acquiring an additional 16,545 shares during the last quarter. Frontier Capital Management Co. LLC lifted its stake in shares of Virtusa by 5.3% in the 1st quarter. Frontier Capital Management Co. LLC now owns 991,445 shares of the information technology services provider’s stock valued at $48,045,000 after acquiring an additional 50,174 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Virtusa by 0.6% in the 1st quarter. Thrivent Financial for Lutherans now owns 905,000 shares of the information technology services provider’s stock valued at $43,856,000 after acquiring an additional 5,670 shares during the last quarter. Finally, Granahan Investment Management Inc. MA raised its position in Virtusa by 6.0% during the 2nd quarter. Granahan Investment Management Inc. MA now owns 450,386 shares of the information technology services provider’s stock worth $21,925,000 after purchasing an additional 25,350 shares during the last quarter. Institutional investors own 82.71% of the company’s stock.
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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