Virtusa Co. (VRTU) Receives Average Rating of “Buy” from Brokerages

Share on StockTwits

Shares of Virtusa Co. (NASDAQ:VRTU) have been given a consensus recommendation of “Buy” by the nine analysts that are currently covering the company, Marketbeat reports. One investment analyst has rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $60.83.

Several research firms recently commented on VRTU. Barrington Research set a $64.00 target price on shares of Virtusa and gave the company a “buy” rating in a report on Friday. Cantor Fitzgerald reissued a “buy” rating and set a $62.00 price target on shares of Virtusa in a research report on Friday. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Friday, January 11th. ValuEngine raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Friday, November 30th. Finally, SunTrust Banks raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research report on Thursday, November 29th.

In other news, CEO Kris A. Canekeratne sold 1,480 shares of the firm’s stock in a transaction dated Friday, December 28th. The shares were sold at an average price of $41.16, for a total value of $60,916.80. Following the completion of the sale, the chief executive officer now directly owns 683,907 shares of the company’s stock, valued at approximately $28,149,612.12. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 10,520 shares of the firm’s stock in a transaction dated Monday, December 31st. The stock was sold at an average price of $41.67, for a total transaction of $438,368.40. Following the completion of the sale, the chief executive officer now directly owns 683,907 shares of the company’s stock, valued at $28,498,404.69. The disclosure for this sale can be found here. Insiders have sold a total of 75,677 shares of company stock valued at $3,411,435 in the last three months. 5.11% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of VRTU. Raymond James & Associates lifted its position in shares of Virtusa by 112.0% in the 2nd quarter. Raymond James & Associates now owns 29,546 shares of the information technology services provider’s stock worth $1,438,000 after purchasing an additional 15,609 shares during the period. Northern Trust Corp lifted its position in Virtusa by 8.0% during the 2nd quarter. Northern Trust Corp now owns 681,008 shares of the information technology services provider’s stock valued at $33,152,000 after acquiring an additional 50,711 shares during the period. United Services Automobile Association lifted its position in Virtusa by 5.6% during the 2nd quarter. United Services Automobile Association now owns 91,927 shares of the information technology services provider’s stock valued at $4,475,000 after acquiring an additional 4,842 shares during the period. Summit Creek Advisors LLC lifted its position in Virtusa by 35.0% during the 3rd quarter. Summit Creek Advisors LLC now owns 175,929 shares of the information technology services provider’s stock valued at $9,449,000 after acquiring an additional 45,567 shares during the period. Finally, Scout Investments Inc. lifted its position in Virtusa by 2.2% during the 3rd quarter. Scout Investments Inc. now owns 70,835 shares of the information technology services provider’s stock valued at $3,805,000 after acquiring an additional 1,503 shares during the period. 86.42% of the stock is owned by hedge funds and other institutional investors.

Shares of VRTU stock traded up $1.42 on Wednesday, hitting $51.25. 4,103 shares of the company’s stock traded hands, compared to its average volume of 100,463. The company has a debt-to-equity ratio of 1.14, a quick ratio of 2.44 and a current ratio of 2.35. Virtusa has a one year low of $37.80 and a one year high of $58.60. The firm has a market cap of $1.49 billion, a P/E ratio of 57.20, a P/E/G ratio of 1.62 and a beta of 1.05.

Virtusa (NASDAQ:VRTU) last released its earnings results on Thursday, February 7th. The information technology services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.19. Virtusa had a net margin of 0.89% and a return on equity of 12.21%. The company had revenue of $314.68 million for the quarter, compared to analyst estimates of $313.32 million. During the same quarter last year, the firm earned $0.47 EPS. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. As a group, analysts forecast that Virtusa will post 1.54 EPS 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.

Read More: How to calculate the intrinsic value of a stock

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

Receive News & Ratings for Virtusa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply