Virtusa (NASDAQ:VRTU) has been given a $55.00 price target by equities research analysts at Barrington Research in a research note issued on Wednesday. The firm presently has a “buy” rating on the information technology services provider’s stock. Barrington Research’s price target suggests a potential upside of 16.11% from the company’s current price.
VRTU has been the topic of several other research reports. Zacks Investment Research upgraded Virtusa from a “sell” rating to a “hold” rating in a research note on Friday, April 13th. BidaskClub upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Saturday, January 20th. Maxim Group restated a “hold” rating on shares of Virtusa in a research note on Monday, April 23rd. Wedbush upgraded Virtusa from a “neutral” rating to an “outperform” rating in a research note on Wednesday, April 4th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $60.00 price target (up previously from $52.00) on shares of Virtusa in a research note on Tuesday, March 13th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $57.88.
Virtusa opened at $47.37 on Wednesday, MarketBeat Ratings reports. The company has a current ratio of 2.54, a quick ratio of 4.24 and a debt-to-equity ratio of 0.66. The company has a market capitalization of $1.42 billion, a P/E ratio of 53.22, a P/E/G ratio of 1.62 and a beta of 1.29. Virtusa has a twelve month low of $47.22 and a twelve month high of $48.07.
Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, May 15th. The information technology services provider reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $281.30 million for the quarter, compared to the consensus estimate of $282.44 million. Virtusa had a return on equity of 5.94% and a net margin of 0.12%. The firm’s quarterly revenue was up 24.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.43 EPS. analysts expect that Virtusa will post 1.49 EPS for the current fiscal year.
In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $49.86, for a total transaction of $598,320.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Raj Rajgopal sold 4,025 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $47.29, for a total value of $190,342.25. Following the sale, the insider now owns 47,713 shares in the company, valued at $2,256,347.77. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 126,002 shares of company stock worth $6,258,319. Company insiders own 5.96% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Legal & General Group Plc boosted its stake in Virtusa by 6.7% during the 1st quarter. Legal & General Group Plc now owns 57,330 shares of the information technology services provider’s stock valued at $2,763,000 after purchasing an additional 3,582 shares during the last quarter. Millennium Management LLC boosted its stake in Virtusa by 63.5% during the 1st quarter. Millennium Management LLC now owns 330,456 shares of the information technology services provider’s stock valued at $16,014,000 after purchasing an additional 128,302 shares during the last quarter. LPL Financial LLC purchased a new stake in Virtusa during the 1st quarter valued at $219,000. Element Capital Management LLC purchased a new stake in Virtusa during the 1st quarter valued at $509,000. Finally, Barclays PLC boosted its stake in Virtusa by 66.0% during the 1st quarter. Barclays PLC now owns 17,597 shares of the information technology services provider’s stock valued at $852,000 after purchasing an additional 6,997 shares during the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.
Virtusa Corporation operates as an information technology (IT) services company. It offers business and IT consulting services comprising advisory/target operating model, business process re-engineering/BPM, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design ASD, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.
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