SunTrust Banks, Inc. restated their buy rating on shares of Virtusa Corporation (NASDAQ:VRTU) in a report published on Friday. They currently have a $52.00 target price on the information technology services provider’s stock.
Several other equities research analysts also recently issued reports on VRTU. Needham & Company LLC reaffirmed a buy rating and set a $38.00 price target on shares of Virtusa Corporation in a research note on Thursday, August 10th. TheStreet raised shares of Virtusa Corporation from a c rating to a b- rating in a research note on Wednesday, November 8th. Barrington Research lifted their price target on shares of Virtusa Corporation to $52.00 and gave the stock an outperform rating in a research note on Thursday. Maxim Group reaffirmed a hold rating on shares of Virtusa Corporation in a research note on Tuesday, August 8th. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $37.00 price target on shares of Virtusa Corporation in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Virtusa Corporation currently has a consensus rating of Buy and a consensus price target of $43.50.
Virtusa Corporation (NASDAQ VRTU) traded down $1.19 during trading on Friday, reaching $44.42. 243,000 shares of the company traded hands, compared to its average volume of 304,255. Virtusa Corporation has a 12-month low of $18.94 and a 12-month high of $48.15. The stock has a market cap of $1,304.41, a P/E ratio of 50.48, a price-to-earnings-growth ratio of 2.23 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.03.
Virtusa Corporation (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. During the same quarter in the previous year, the firm posted $0.27 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. sell-side analysts predict that Virtusa Corporation will post 1 earnings per share for the current year.
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In other news, CEO Kris A. Canekeratne sold 22,000 shares of the business’s stock in a transaction dated Monday, October 2nd. The shares were sold at an average price of $37.96, for a total value of $835,120.00. Following the completion of the sale, the chief executive officer now owns 577,491 shares of the company’s stock, valued at approximately $21,921,558.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kris A. Canekeratne sold 789 shares of the business’s stock in a transaction dated Monday, September 18th. The stock was sold at an average price of $36.09, for a total transaction of $28,475.01. Following the completion of the sale, the chief executive officer now directly owns 594,702 shares of the company’s stock, valued at approximately $21,462,795.18. The disclosure for this sale can be found here. Insiders sold a total of 76,326 shares of company stock valued at $2,798,780 in the last three months. Insiders own 5.96% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the company. US Bancorp DE boosted its holdings 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 valued at $103,000 after buying an additional 327 shares during the period. SG Americas Securities LLC acquired a new position in shares of Virtusa Corporation in the 2nd quarter valued at about $120,000. Victory Capital Management Inc. acquired a new position in shares of Virtusa Corporation in the 3rd quarter valued at about $130,000. State of Alaska Department of Revenue boosted its holdings 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 valued at $160,000 after buying an additional 2,430 shares during the period. Finally, Municipal Employees Retirement System of Michigan boosted its holdings 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 valued at $191,000 after buying an additional 260 shares during the period. 91.76% of the stock is owned by institutional investors and hedge funds.
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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