Virtusa Co. (NASDAQ:VRTU) – Stock analysts at Wedbush lowered their Q4 2018 earnings per share estimates for Virtusa in a research note issued to investors on Tuesday, according to Zacks Investment Research. Wedbush analyst M. Katri now expects that the information technology services provider will earn $0.36 per share for the quarter, down from their prior forecast of $0.37. Wedbush also issued estimates for Virtusa’s FY2019 earnings at $1.49 EPS.
A number of other research analysts have also weighed in on the company. Needham & Company LLC increased their price objective on Virtusa to $55.00 and gave the company a “buy” rating in a report on Friday, November 17th. Cowen reaffirmed a “buy” rating and set a $37.00 target price on shares of Virtusa in a report on Thursday, October 12th. Barrington Research raised their target price on Virtusa to $52.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $37.00 target price on shares of Virtusa in a report on Sunday, November 5th. Finally, Maxim Group raised Virtusa from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday, November 8th. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $49.25.
Virtusa (VRTU) opened at $43.60 on Thursday. 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 company has a market cap of $1,322.03, a P/E ratio of 61.41, a P/E/G ratio of 2.16 and a beta of 1.48. Virtusa has a 52 week low of $25.20 and a 52 week high of $48.71.
Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping 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 quarter last year, the business posted $0.27 EPS. The company’s revenue was up 18.1% on a year-over-year basis.
In other Virtusa news, insider Raj Rajgopal sold 4,025 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $44.35, for a total transaction of $178,508.75. Following the transaction, the insider now owns 98,576 shares in the company, valued at $4,371,845.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction that occurred on Friday, January 19th. The stock was sold at an average price of $47.70, for a total value of $572,400.00. Following the transaction, the chief executive officer now owns 541,491 shares in the company, valued at approximately $25,829,120.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 89,580 shares of company stock worth $4,095,604. 5.96% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Virtusa by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock valued at $60,964,000 after acquiring an additional 119,133 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Virtusa by 4.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,972,230 shares of the information technology services provider’s stock valued at $74,511,000 after acquiring an additional 92,126 shares in the last quarter. Vaughan Nelson Investment Management L.P. lifted its position in shares of Virtusa by 4.6% in the third quarter. Vaughan Nelson Investment Management L.P. now owns 928,500 shares of the information technology services provider’s stock valued at $35,078,000 after acquiring an additional 40,850 shares in the last quarter. State Street Corp lifted its position in shares of Virtusa by 4.0% in the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock valued at $19,774,000 after acquiring an additional 25,883 shares in the last quarter. Finally, Royal Bank of Canada lifted its position in shares of Virtusa by 8.3% in the second quarter. Royal Bank of Canada now owns 599,501 shares of the information technology services provider’s stock valued at $17,626,000 after acquiring an additional 46,016 shares in the last quarter. Institutional investors and hedge funds own 87.48% of the company’s stock.
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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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