BidaskClub upgraded shares of Virtusa (NASDAQ:VRTU) from a hold rating to a buy rating in a research report report published on Wednesday.
Several other equities analysts have also recently weighed in on VRTU. Wedbush raised shares of Virtusa from a neutral rating to an outperform rating in a research note on Wednesday, April 4th. Zacks Investment Research raised shares of Virtusa from a hold rating to a buy rating and set a $52.00 target price for the company in a research note on Thursday, January 25th. Barrington Research raised their target price on shares of Virtusa from $52.00 to $55.00 and gave the company an outperform rating in a research note on Friday, February 9th. SunTrust Banks downgraded Virtusa from a buy rating to a hold rating in a report on Wednesday, April 4th. Finally, Needham & Company LLC raised their price target on Virtusa to $65.00 and gave the company a buy rating in a report on Thursday, March 15th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Virtusa has a consensus rating of Buy and an average price target of $57.88.
NASDAQ:VRTU opened at $47.73 on Wednesday. Virtusa has a 1-year low of $25.72 and a 1-year high of $52.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.24 and a quick ratio of 4.24. The firm has a market capitalization of $1,412.62, a P/E ratio of 71.24, a PEG ratio of 1.62 and a beta of 1.27.
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, beating the consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The business had revenue of $263.80 million during the quarter, compared to analysts’ expectations of $259.81 million. During the same period last year, the business earned $0.37 earnings per share. The firm’s revenue was up 21.5% on a year-over-year basis. sell-side analysts anticipate that Virtusa will post 0.99 EPS for the current year.
In other Virtusa news, CEO Kris A. Canekeratne sold 10,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $47.51, for a total transaction of $475,100.00. Following the completion of the sale, the chief executive officer now owns 535,491 shares of the company’s stock, valued at approximately $25,441,177.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raj Rajgopal sold 4,025 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $47.53, for a total value of $191,308.25. Following the sale, the insider now directly owns 98,576 shares of the company’s stock, valued at approximately $4,685,317.28. The disclosure for this sale can be found here. Insiders have sold a total of 137,027 shares of company stock valued at $6,782,317 in the last ninety days. Insiders own 5.96% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the business. Bank of Montreal Can lifted its holdings in shares of Virtusa by 5,546.1% during the fourth quarter. Bank of Montreal Can now owns 22,189 shares of the information technology services provider’s stock worth $978,000 after buying an additional 21,796 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of Virtusa during the fourth quarter worth $2,207,000. Teacher Retirement System of Texas acquired a new stake in shares of Virtusa during the fourth quarter worth $421,000. Capital Fund Management S.A. acquired a new stake in shares of Virtusa during the fourth quarter worth $450,000. Finally, Smith Asset Management Group LP acquired a new stake in shares of Virtusa during the fourth quarter worth $3,306,000. 86.74% of the stock is owned by institutional investors and hedge funds.
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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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