Virtusa (VRTU) PT Raised to $65.00 at Needham & Company LLC

Virtusa (NASDAQ:VRTU) had its price target boosted by Needham & Company LLC to $65.00 in a report published on Thursday, March 15th, The Fly reports. They currently have a buy rating on the information technology services provider’s stock.

VRTU has been the topic of several other reports. BidaskClub upgraded Virtusa from a hold rating to a buy rating in a research note on Saturday, January 20th. Zacks Investment Research downgraded Virtusa from a buy rating to a hold rating in a research note on Sunday, January 21st. Cantor Fitzgerald reiterated a buy rating and issued a $60.00 target price (up from $52.00) on shares of Virtusa in a research note on Tuesday, March 13th. Barrington Research lifted their target price on Virtusa from $52.00 to $55.00 and gave the company an outperform rating in a research note on Friday, February 9th. Finally, Cowen reiterated a buy rating and issued a $55.00 target price on shares of Virtusa in a research note on Thursday, December 14th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $57.88.

How to Become a New Pot Stock Millionaire

VRTU opened at $43.83 on Thursday. Virtusa has a 52 week low of $25.72 and a 52 week high of $52.88. The company has a market cap of $1,308.44, a price-to-earnings ratio of 65.42, a PEG ratio of 1.50 and a beta of 1.27. The company has a current ratio of 4.24, a quick ratio of 4.24 and a debt-to-equity ratio of 0.23.

Virtusa (NASDAQ:VRTU) last announced its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.02. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The company had revenue of $263.80 million for the quarter, compared to the consensus estimate of $259.81 million. During the same period last year, the business posted $0.37 EPS. The company’s revenue was up 21.5% on a year-over-year basis. equities analysts predict that Virtusa will post 1 earnings per share for the current fiscal year.

In related news, insider Raj Rajgopal sold 41,108 shares of Virtusa stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $49.36, for a total value of $2,029,090.88. Following the sale, the insider now directly owns 86,661 shares in the company, valued at $4,277,586.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas R. Holler sold 17,479 shares of Virtusa stock in a transaction that occurred on Thursday, March 15th. The shares were sold at an average price of $50.53, for a total value of $883,213.87. Following the completion of the sale, the executive vice president now owns 38,189 shares in the company, valued at $1,929,690.17. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,027 shares of company stock worth $7,765,897. Company insiders own 5.96% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. We Are One Seven LLC purchased a new stake in Virtusa during the fourth quarter worth $143,000. Victory Capital Management Inc. purchased a new stake in Virtusa during the third quarter worth $130,000. LS Investment Advisors LLC boosted its position in Virtusa by 359.5% during the fourth quarter. LS Investment Advisors LLC now owns 4,411 shares of the information technology services provider’s stock worth $194,000 after purchasing an additional 3,451 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in Virtusa during the fourth quarter worth $239,000. Finally, Piedmont Investment Advisors LLC purchased a new stake in Virtusa during the third quarter worth $224,000. Institutional investors own 86.76% of the company’s stock.

TRADEMARK VIOLATION WARNING: “Virtusa (VRTU) PT Raised to $65.00 at Needham & Company LLC” was posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece on another website, it was illegally copied and reposted in violation of United States and international copyright and trademark laws. The original version of this piece can be accessed at https://www.dispatchtribunal.com/2018/04/08/virtusa-vrtu-given-new-65-00-price-target-at-needham-company-llc.html.

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.

The Fly

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

Receive News & Ratings for Virtusa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply