Virtusa (NASDAQ:VRTU) had its target price lifted by research analysts at Needham & Company LLC to $55.00 in a research note issued on Friday, November 17th, The Fly reports. The firm presently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective suggests a potential upside of 22.01% from the stock’s current price.
A number of other equities research analysts have also issued reports on VRTU. Barrington Research increased their price target on Virtusa from $35.00 to $40.00 and gave the company an “outperform” rating in a research report on Wednesday, August 9th. Maxim Group reiterated a “hold” rating on shares of Virtusa in a report on Tuesday, August 8th. Cantor Fitzgerald reiterated a “buy” rating and issued a $37.00 price objective on shares of Virtusa in a report on Friday, August 11th. Zacks Investment Research downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Finally, TheStreet upgraded Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Virtusa currently has a consensus rating of “Buy” and a consensus price target of $45.00.
Shares of Virtusa (NASDAQ VRTU) traded down $0.50 on Friday, hitting $45.08. The company had a trading volume of 167,728 shares, compared to its average volume of 296,116. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.03. The stock has a market capitalization of $1,338.47, a PE ratio of 51.79, a price-to-earnings-growth ratio of 2.19 and a beta of 1.71. Virtusa has a 52-week low of $21.98 and a 52-week high of $48.71.
Virtusa (NASDAQ:VRTU) last posted its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.11. Virtusa had a return on equity of 4.86% and a net margin of 2.54%. The firm had revenue of $248.20 million for the quarter, compared to analyst estimates of $237.48 million. During the same quarter in the prior year, the company earned $0.27 EPS. Virtusa’s revenue was up 18.1% on a year-over-year basis. sell-side analysts predict that Virtusa will post 1.04 EPS for the current year.
In related news, CEO Kris A. Canekeratne sold 789 shares of Virtusa stock in a transaction on Monday, September 18th. The stock was sold at an average price of $36.09, for a total transaction of $28,475.01. Following the completion of the transaction, the chief executive officer now directly owns 594,702 shares of the company’s stock, valued at $21,462,795.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Trust Martin sold 12,255 shares of Virtusa stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $35.31, for a total value of $432,724.05. Following the transaction, the director now directly owns 9,397 shares of the company’s stock, valued at $331,808.07. The disclosure for this sale can be found here. Insiders sold a total of 100,330 shares of company stock valued at $4,130,526 over the last three months. Insiders own 5.96% of the company’s stock.
A number of institutional investors have recently added to or reduced their stakes in VRTU. Teachers Advisors LLC increased its position in Virtusa by 4.0% during the first quarter. Teachers Advisors LLC now owns 47,470 shares of the information technology services provider’s stock worth $1,435,000 after buying an additional 1,818 shares in the last quarter. Legal & General Group Plc grew its position in shares of Virtusa by 3.7% in the first quarter. Legal & General Group Plc now owns 50,188 shares of the information technology services provider’s stock valued at $1,517,000 after purchasing an additional 1,773 shares during the period. Vanguard Group Inc. grew its position in shares of Virtusa by 5.5% in the first quarter. Vanguard Group Inc. now owns 1,954,497 shares of the information technology services provider’s stock valued at $59,065,000 after purchasing an additional 102,682 shares during the period. Geode Capital Management LLC grew its position in shares of Virtusa by 7.8% in the first quarter. Geode Capital Management LLC now owns 227,982 shares of the information technology services provider’s stock valued at $6,889,000 after purchasing an additional 16,562 shares during the period. Finally, BlackRock Inc. grew its position in shares of Virtusa by 120,287.9% in the first quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock valued at $100,993,000 after purchasing an additional 3,339,191 shares during the period. 88.04% of the stock is owned by institutional investors.
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Virtusa Company Profile
Virtusa Corporation (Virtusa) 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.
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