Virtusa Co. (NASDAQ:VRTU) – Analysts at Wedbush upped their Q1 2019 earnings per share estimates for shares of Virtusa in a research report issued on Tuesday, March 13th, Zacks Investment Research reports. Wedbush analyst M. Katri now expects that the information technology services provider will earn $0.21 per share for the quarter, up from their previous forecast of $0.19. Wedbush has a “Outperform” rating on the stock. Wedbush also issued estimates for Virtusa’s Q2 2019 earnings at $0.34 EPS, Q3 2019 earnings at $0.41 EPS and FY2019 earnings at $1.46 EPS.
Virtusa (NASDAQ:VRTU) last released its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $263.80 million during the quarter, compared to the consensus estimate of $259.81 million. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The business’s revenue for the quarter was up 21.5% compared to the same quarter last year. During the same period last year, the company earned $0.37 earnings per share.
Several other equities analysts have also commented on the company. SunTrust Banks lowered Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday. Needham & Company LLC raised their price target on Virtusa to $65.00 and gave the company a “buy” rating in a research note on Thursday, March 15th. Maxim Group raised their price target on Virtusa to $64.00 and gave the company a “buy” rating in a research note on Wednesday, March 14th. Barrington Research set a $55.00 price target on Virtusa and gave the company a “buy” rating in a research note on Tuesday, March 13th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $60.00 price target (up previously from $52.00) on shares of Virtusa in a research note on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $57.88.
Shares of Virtusa stock traded down $0.63 during trading on Friday, hitting $43.83. 287,596 shares of the stock traded hands, compared to its average volume of 239,847. The firm has a market cap of $1,308.44, a P/E ratio of 65.42, a P/E/G 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 has a 52-week low of $25.72 and a 52-week high of $52.88.
In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction dated Tuesday, March 13th. The stock was sold at an average price of $51.22, for a total value of $614,640.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 10,000 shares of Virtusa stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $47.51, for a total value of $475,100.00. Following the completion of the transaction, the chief executive officer now owns 535,491 shares in the company, valued at approximately $25,441,177.41. The disclosure for this sale can be found here. Insiders sold 158,027 shares of company stock worth $7,765,897 in the last quarter. 5.96% of the stock is owned by insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. American International Group Inc. boosted its holdings in Virtusa by 5.5% in the third quarter. American International Group Inc. now owns 21,860 shares of the information technology services provider’s stock worth $826,000 after acquiring an additional 1,131 shares in the last quarter. Teachers Advisors LLC boosted its holdings in Virtusa by 2.6% in the fourth quarter. Teachers Advisors LLC now owns 49,935 shares of the information technology services provider’s stock worth $2,201,000 after acquiring an additional 1,263 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Virtusa by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 248,677 shares of the information technology services provider’s stock worth $10,961,000 after acquiring an additional 1,425 shares in the last quarter. Swiss National Bank boosted its holdings in Virtusa by 4.1% in the fourth quarter. Swiss National Bank now owns 48,300 shares of the information technology services provider’s stock worth $2,129,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan boosted its holdings in Virtusa by 25.8% in the fourth quarter. Municipal Employees Retirement System of Michigan now owns 13,080 shares of the information technology services provider’s stock worth $576,000 after acquiring an additional 2,680 shares in the last quarter. Institutional investors own 86.76% 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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