Virtusa Co. (NASDAQ:VRTU) – Equities researchers at SunTrust Banks issued their FY2019 earnings per share (EPS) estimates for shares of Virtusa in a research note issued on Wednesday. SunTrust Banks analyst F. Atkins forecasts that the information technology services provider will post earnings per share of $1.41 for the year. SunTrust Banks has a “Buy” rating and a $32.00 price target on the stock.
A number of other equities research analysts have also issued reports on VRTU. Maxim Group reissued a “buy” rating and issued a $32.00 price target (up previously from $26.00) on shares of Virtusa in a report on Wednesday, January 25th. Needham & Company LLC raised their target price on shares of Virtusa from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Zacks Investment Research raised shares of Virtusa from a “sell” rating to a “hold” rating in a research report on Saturday, February 18th. Wedbush raised their target price on shares of Virtusa from $35.00 to $40.00 and gave the stock an “outperform” rating in a research report on Friday, March 3rd. Finally, Cowen and Company raised shares of Virtusa from a “market perform” rating to an “outperform” rating and set a $38.00 target price for the company in a research report on Friday, March 24th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $34.33.
Virtusa (NASDAQ:VRTU) opened at 28.20 on Friday. The stock’s 50 day moving average is $29.39 and its 200 day moving average is $26.93. Virtusa has a one year low of $18.03 and a one year high of $35.58. The firm has a market cap of $840.16 million, a price-to-earnings ratio of 72.31 and a beta of 1.42.
Virtusa (NASDAQ:VRTU) last released its earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. The firm had revenue of $226 million during the quarter, compared to analyst estimates of $226.67 million. Virtusa had a net margin of 1.70% and a return on equity of 4.32%. Virtusa’s quarterly revenue was up 31.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.55 EPS.
In other news, Director Ronald T. Maheu sold 4,566 shares of the firm’s stock in a transaction dated Wednesday, March 1st. The shares were sold at an average price of $32.57, for a total value of $148,714.62. Following the completion of the sale, the director now directly owns 41,678 shares of the company’s stock, valued at approximately $1,357,452.46. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Ronald T. Maheu sold 7,231 shares of the firm’s stock in a transaction dated Monday, February 27th. The stock was sold at an average price of $30.00, for a total transaction of $216,930.00. Following the completion of the sale, the director now directly owns 45,557 shares of the company’s stock, valued at $1,366,710. The disclosure for this sale can be found here. Company insiders own 9.92% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new stake in Virtusa during the fourth quarter valued at approximately $1,731,000. FIL Ltd boosted its position in shares of Virtusa by 81.3% in the fourth quarter. FIL Ltd now owns 235,245 shares of the information technology services provider’s stock worth $5,909,000 after buying an additional 105,502 shares during the period. Clough Capital Partners L P acquired a new position in shares of Virtusa during the fourth quarter worth about $5,509,000. Municipal Employees Retirement System of Michigan boosted its position in shares of Virtusa by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,040 shares of the information technology services provider’s stock worth $149,000 after buying an additional 100 shares during the period. Finally, Emerald Acquisition Ltd. boosted its position in shares of Virtusa by 1.1% in the third quarter. Emerald Acquisition Ltd. now owns 277,127 shares of the information technology services provider’s stock worth $6,840,000 after buying an additional 3,021 shares during the period. 93.20% of the stock is owned by hedge funds and other institutional investors.
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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