Brokerages Expect Virtusa Co. (VRTU) Will Post Quarterly Sales of $259.07 Million

Analysts expect Virtusa Co. (NASDAQ:VRTU) to announce sales of $259.07 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have made estimates for Virtusa’s earnings, with the lowest sales estimate coming in at $258.48 million and the highest estimate coming in at $260.25 million. Virtusa posted sales of $217.21 million in the same quarter last year, which suggests a positive year over year growth rate of 19.3%. The business is scheduled to issue its next quarterly earnings report on Thursday, February 8th.

On average, analysts expect that Virtusa will report full year sales of $259.07 million for the current financial year, with estimates ranging from $998.35 million to $1.01 billion. For the next year, analysts forecast that the firm will post sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.14 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Virtusa.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The firm had revenue of $248.20 million during the quarter, compared to the consensus estimate of $237.48 million. During the same period in the previous year, the firm posted $0.27 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year.

Several equities research analysts have weighed in on the stock. Zacks Investment Research raised shares of Virtusa from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Barrington Research lifted their price target on shares of Virtusa to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. SunTrust Banks reiterated a “buy” rating and set a $52.00 price objective on shares of Virtusa in a report on Friday, November 10th. Cantor Fitzgerald reiterated a “buy” rating and set a $37.00 price objective on shares of Virtusa in a report on Sunday, November 5th. Finally, Cowen reiterated a “buy” rating and set a $37.00 price objective on shares of Virtusa in a report on Thursday, October 12th. Two research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. Virtusa currently has an average rating of “Buy” and a consensus price target of $47.25.

In related news, CEO Kris A. Canekeratne sold 11,211 shares of the business’s stock in a transaction dated Monday, September 25th. The shares were sold at an average price of $36.46, for a total transaction of $408,753.06. Following the transaction, the chief executive officer now directly owns 589,491 shares in the company, valued at $21,492,841.86. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert E. Davoli sold 1,505 shares of the business’s stock in a transaction dated Tuesday, December 12th. The stock was sold at an average price of $45.31, for a total transaction of $68,191.55. Following the transaction, the director now owns 9,996 shares in the company, valued at $452,918.76. The disclosure for this sale can be found here. Insiders have sold 88,791 shares of company stock valued at $3,737,518 over the last quarter. Corporate 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 boosted its holdings 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 purchasing an additional 1,818 shares during the last quarter. Aperio Group LLC boosted its holdings in Virtusa by 0.6% during the second quarter. Aperio Group LLC now owns 9,836 shares of the information technology services provider’s stock worth $289,000 after purchasing an additional 60 shares during the last quarter. US Bancorp DE boosted its holdings in Virtusa by 10.3% during the second quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 327 shares during the last quarter. Municipal Employees Retirement System of Michigan boosted its holdings in Virtusa by 4.2% during the second quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after purchasing an additional 260 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its holdings in Virtusa by 5.3% during the second quarter. Great West Life Assurance Co. Can now owns 40,069 shares of the information technology services provider’s stock worth $1,177,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Shares of Virtusa (NASDAQ VRTU) opened at $45.33 on Wednesday. Virtusa has a 52 week low of $24.54 and a 52 week high of $48.71. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.18. The firm has a market cap of $1,330.00, a price-to-earnings ratio of 51.15, a price-to-earnings-growth ratio of 2.16 and a beta of 1.71.

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About Virtusa

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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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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