Virtusa (NASDAQ:VRTU) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.58-2.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.80. The company issued revenue guidance of $1.36-1.40 billion, compared to the consensus revenue estimate of $1.40 billion.Virtusa also updated its FY 2020 guidance to $2.58-2.82 EPS.
NASDAQ VRTU traded up $1.63 during mid-day trading on Wednesday, hitting $54.20. The stock had a trading volume of 72,163 shares, compared to its average volume of 112,224. Virtusa has a twelve month low of $37.80 and a twelve month high of $58.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.35 and a current ratio of 2.35. The company has a market cap of $1.57 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.34 and a beta of 1.05.
VRTU has been the subject of several recent research reports. Zacks Investment Research raised Virtusa from a sell rating to a hold rating in a research note on Thursday, February 14th. Barrington Research reissued a buy rating and issued a $64.00 price objective on shares of Virtusa in a research note on Tuesday, January 29th. BidaskClub cut Virtusa from a buy rating to a hold rating in a report on Friday, February 15th. Finally, Cantor Fitzgerald restated a buy rating and issued a $62.00 target price on shares of Virtusa in a report on Friday, February 8th. Two equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $62.83.
In other news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $51.54, for a total transaction of $618,480.00. Following the completion of the transaction, the chief executive officer now directly owns 649,387 shares in the company, valued at approximately $33,469,405.98. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 10,160 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $51.00, for a total value of $518,160.00. Following the transaction, the chief executive officer now owns 635,547 shares of the company’s stock, valued at $32,412,897. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,175 shares of company stock valued at $8,295,869. 5.11% of the stock is owned by company insiders.
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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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