Virtusa (NASDAQ:VRTU) released its earnings results on Thursday. The information technology services provider reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19, Bloomberg Earnings reports. The company had revenue of $314.68 million during the quarter, compared to the consensus estimate of $313.32 million. Virtusa had a return on equity of 11.22% and a net margin of 0.89%. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share.
NASDAQ VRTU opened at $49.83 on Friday. The stock has a market capitalization of $1.49 billion, a P/E ratio of 55.99, a P/E/G ratio of 1.57 and a beta of 1.05. The company has a quick ratio of 2.44, a current ratio of 2.44 and a debt-to-equity ratio of 0.88. Virtusa has a 12 month low of $37.80 and a 12 month high of $58.60.
In related news, President Samir Dhir sold 4,000 shares of the company’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $48.29, for a total value of $193,160.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas R. Holler sold 24,197 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $49.00, for a total value of $1,185,653.00. Following the completion of the sale, the executive vice president now owns 58,184 shares of the company’s stock, valued at approximately $2,851,016. The disclosure for this sale can be found here. Insiders sold 75,677 shares of company stock valued at $3,411,435 in the last quarter. 5.11% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VRTU. Oppenheimer Asset Management Inc. bought a new stake in Virtusa in the fourth quarter valued at about $43,000. Pearl River Capital LLC bought a new stake in Virtusa in the fourth quarter valued at about $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Virtusa by 47.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock valued at $79,000 after purchasing an additional 603 shares during the last quarter. MML Investors Services LLC bought a new stake in Virtusa in the third quarter valued at about $217,000. Finally, Piedmont Investment Advisors Inc. increased its holdings in Virtusa by 4.0% in the fourth quarter. Piedmont Investment Advisors Inc. now owns 6,565 shares of the information technology services provider’s stock valued at $280,000 after purchasing an additional 250 shares during the last quarter. Institutional investors and hedge funds own 85.46% of the company’s stock.
A number of equities research analysts have recently weighed in on VRTU shares. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Saturday, November 17th. ValuEngine upgraded Virtusa from a “hold” rating to a “buy” rating in a research report on Friday, November 30th. SunTrust Banks upgraded Virtusa from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, November 29th. Barrington Research set a $64.00 target price on Virtusa and gave the stock a “buy” rating in a research report on Wednesday, October 31st. Finally, BidaskClub upgraded Virtusa from a “hold” rating to a “buy” rating in a research report on Tuesday, October 23rd. One research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Virtusa has a consensus rating of “Buy” and an average target price of $61.29.
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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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