Barrington Research Boosts Virtusa Corporation (VRTU) Price Target to $52.00

Virtusa Corporation (NASDAQ:VRTU) had its price target hoisted by Barrington Research to $52.00 in a research note issued to investors on Thursday, The Fly reports. Barrington Research currently has an outperform rating on the information technology services provider’s stock.

Several other equities analysts have also commented on VRTU. BidaskClub raised shares of Virtusa Corporation from a hold rating to a buy rating in a report on Sunday, July 16th. Zacks Investment Research raised shares of Virtusa Corporation from a hold rating to a buy rating and set a $36.00 target price on the stock in a report on Wednesday, July 19th. Cowen and Company reaffirmed a buy rating and set a $36.00 target price on shares of Virtusa Corporation in a report on Friday, July 28th. Maxim Group reaffirmed a hold rating on shares of Virtusa Corporation in a report on Tuesday, August 8th. Finally, Needham & Company LLC reaffirmed a buy rating and set a $38.00 target price on shares of Virtusa Corporation in a report on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus target price of $43.50.

Virtusa Corporation (VRTU) traded down $1.19 during mid-day trading on Thursday, hitting $44.42. 243,000 shares of the company traded hands, compared to its average volume of 144,126. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.26 and a current ratio of 4.03. Virtusa Corporation has a 52 week low of $18.94 and a 52 week high of $48.15. The company has a market cap of $1,304.39, a price-to-earnings ratio of 50.48, a P/E/G ratio of 2.23 and a beta of 1.66.

Virtusa Corporation (NASDAQ:VRTU) last released its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.11. Virtusa Corporation had a net margin of 2.54% and a return on equity of 4.86%. The company had revenue of $248.20 million for the quarter, compared to analyst estimates of $237.48 million. During the same quarter last year, the firm earned $0.27 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. equities analysts predict that Virtusa Corporation will post 1 earnings per share for the current fiscal year.

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In other news, CEO Kris A. Canekeratne sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $36.89, for a total value of $221,340.00. Following the completion of the sale, the chief executive officer now directly owns 604,186 shares of the company’s stock, valued at approximately $22,288,421.54. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 10,000 shares of the firm’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $36.07, for a total transaction of $360,700.00. Following the completion of the sale, the chief executive officer now directly owns 595,491 shares of the company’s stock, valued at $21,479,360.37. The disclosure for this sale can be found here. Insiders have sold a total of 82,326 shares of company stock valued at $3,018,860 in the last three months. 5.96% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the company. Victory Capital Management Inc. purchased a new stake in shares of Virtusa Corporation in the 3rd quarter worth about $130,000. US Bancorp DE lifted its position in shares of Virtusa Corporation by 10.3% in the 2nd quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 327 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Virtusa Corporation in the 2nd quarter worth about $120,000. State of Alaska Department of Revenue lifted its position in shares of Virtusa Corporation by 79.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock worth $160,000 after purchasing an additional 2,430 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its position in shares of Virtusa Corporation by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after purchasing an additional 260 shares during the period. 93.05% of the stock is owned by hedge funds and other institutional investors.

About Virtusa Corporation

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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