Shares of Virtusa Co. (NASDAQ:VRTU) have been assigned a consensus recommendation of “Buy” from the eleven brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a hold recommendation and nine have given a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $50.63.
Several brokerages have issued reports on VRTU. Barrington Research boosted their price target on Virtusa from $52.00 to $55.00 and gave the company an “outperform” rating in a research note on Friday, February 9th. Maxim Group set a $59.00 price target on Virtusa and gave the company a “buy” rating in a research note on Thursday, February 8th. BidaskClub lowered Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research raised Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research note on Thursday, January 25th. Finally, TheStreet raised Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th.
In other news, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $44.35, for a total transaction of $178,508.75. Following the transaction, the insider now directly owns 98,576 shares of the company’s stock, valued at $4,371,845.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $46.12, for a total value of $553,440.00. Following the transaction, the chief executive officer now directly owns 553,491 shares in the company, valued at $25,527,004.92. The disclosure for this sale can be found here. Insiders have sold 67,580 shares of company stock worth $3,127,526 over the last ninety days. 5.96% of the stock is owned by insiders.
A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in Virtusa by 1.8% during the fourth quarter. BlackRock Inc. now owns 3,408,244 shares of the information technology services provider’s stock worth $150,234,000 after buying an additional 58,844 shares in the last quarter. Vanguard Group Inc. grew its holdings in Virtusa by 6.1% during the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock worth $60,964,000 after buying an additional 119,133 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in Virtusa by 4.9% during the third quarter. Dimensional Fund Advisors LP now owns 1,972,230 shares of the information technology services provider’s stock worth $74,511,000 after buying an additional 92,126 shares in the last quarter. Vaughan Nelson Investment Management L.P. grew its holdings in Virtusa by 4.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 928,500 shares of the information technology services provider’s stock worth $35,078,000 after buying an additional 40,850 shares in the last quarter. Finally, State Street Corp grew its holdings in Virtusa by 4.0% during the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock worth $19,774,000 after buying an additional 25,883 shares in the last quarter. Institutional investors and hedge funds own 84.55% of the company’s stock.
Virtusa (NASDAQ VRTU) opened at $49.56 on Wednesday. Virtusa has a 12 month low of $25.72 and a 12 month high of $50.38. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1,449.41, a P/E ratio of 275.33, a price-to-earnings-growth ratio of 2.49 and a beta of 1.48.
Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The firm had revenue of $263.80 million for the quarter, compared to analyst estimates of $259.81 million. During the same period in the previous year, the firm earned $0.37 earnings per share. The company’s revenue was up 21.5% compared to the same quarter last year. equities research analysts anticipate that Virtusa will post 0.99 EPS for the current year.
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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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