Virtusa (NASDAQ:VRTU) was upgraded by stock analysts at BidaskClub from a “hold” rating to a “buy” rating in a research note issued on Saturday.
A number of other research analysts have also weighed in on VRTU. Cowen reissued a “buy” rating and issued a $37.00 target price on shares of Virtusa in a report on Thursday, October 12th. Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 target price on shares of Virtusa in a report on Sunday, November 5th. Maxim Group raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a report on Wednesday, November 8th. Barrington Research raised their target price on shares of Virtusa to $52.00 and gave the company an “outperform” rating in a report on Thursday, November 9th. Finally, TheStreet raised shares of Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $49.25.
Virtusa (NASDAQ:VRTU) opened at $48.01 on Friday. Virtusa has a fifty-two week low of $24.84 and a fifty-two week high of $48.71. 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 firm has a market cap of $1,398.38, a price-to-earnings ratio of 67.62, a P/E/G ratio of 2.29 and a beta of 1.72.
Virtusa (NASDAQ:VRTU) last posted its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $237.48 million. During the same period last year, the firm posted $0.27 earnings per share. Virtusa’s revenue for the quarter was up 18.1% compared to the same quarter last year. research analysts predict that Virtusa will post 1.04 EPS for the current year.
In other Virtusa news, insider Raj Rajgopal sold 14,025 shares of Virtusa stock in a transaction on Friday, November 10th. The shares were sold at an average price of $45.02, for a total transaction of $631,405.50. Following the completion of the transaction, the insider now directly owns 108,576 shares of the company’s stock, valued at $4,888,091.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kris A. Canekeratne sold 10,000 shares of Virtusa stock in a transaction on Friday, November 10th. The stock was sold at an average price of $45.06, for a total transaction of $450,600.00. Following the transaction, the chief executive officer now directly owns 571,491 shares of the company’s stock, valued at $25,751,384.46. The disclosure for this sale can be found here. Insiders have sold 89,580 shares of company stock valued at $4,095,604 over the last ninety days. 5.96% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of VRTU. SG Americas Securities LLC purchased a new position in Virtusa during the second quarter worth $120,000. Victory Capital Management Inc. purchased a new stake in shares of Virtusa during the third quarter valued at $130,000. Piedmont Investment Advisors LLC purchased a new stake in shares of Virtusa during the third quarter valued at $224,000. Trexquant Investment LP purchased a new stake in shares of Virtusa during the third quarter valued at $247,000. Finally, ETRADE Capital Management LLC purchased a new stake in shares of Virtusa during the second quarter valued at $260,000. 88.00% of the stock is owned by institutional investors.
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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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