Virtusa Corp. (VRTU) Receives Consensus Rating of “Buy” from Analysts
Shares of Virtusa Corp. (NASDAQ:VRTU) have earned a consensus rating of “Buy” from the ten research firms that are presently covering the company. Five research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among analysts that have covered the stock in the last year is $37.75.
VRTU has been the topic of several research analyst reports. Zacks Investment Research upgraded shares of Virtusa Corp. from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 19th. Cantor Fitzgerald set a $28.00 price target on shares of Virtusa Corp. and gave the stock a “buy” rating in a research note on Sunday, September 11th. TheStreet lowered shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Maxim Group reiterated a “buy” rating and set a $42.00 price target (down from $46.00) on shares of Virtusa Corp. in a research note on Wednesday, June 29th. Finally, Wedbush initiated coverage on shares of Virtusa Corp. in a research note on Thursday, September 8th. They set a “neutral” rating and a $29.00 price target on the stock.
Virtusa Corp. (NASDAQ:VRTU) traded down 0.41% during mid-day trading on Tuesday, reaching $21.89. 69,974 shares of the company were exchanged. Virtusa Corp. has a 1-year low of $20.74 and a 1-year high of $59.40. The stock has a 50-day moving average of $24.49 and a 200 day moving average of $29.66. The firm has a market capitalization of $653.83 million, a P/E ratio of 23.09 and a beta of 1.42.
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Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings data on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.16 by $0.02. The firm had revenue of $205.50 million for the quarter, compared to analyst estimates of $203.82 million. Virtusa Corp. had a net margin of 4.24% and a return on equity of 7.38%. Virtusa Corp.’s revenue was up 52.4% on a year-over-year basis. During the same period in the previous year, the firm earned $0.48 EPS. Equities research analysts forecast that Virtusa Corp. will post $1.63 earnings per share for the current year.
In related news, Director Ronald T. Maheu sold 3,423 shares of the company’s stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $26.25, for a total transaction of $89,853.75. Following the sale, the director now directly owns 40,533 shares in the company, valued at $1,063,991.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kris A. Canekeratne sold 24,000 shares of the company’s stock in a transaction that occurred on Friday, September 9th. The stock was sold at an average price of $26.01, for a total transaction of $624,240.00. Following the sale, the chief executive officer now owns 826,133 shares in the company, valued at $21,487,719.33. The disclosure for this sale can be found here. Corporate insiders own 9.92% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. TIAA CREF Investment Management LLC increased its position in shares of Virtusa Corp. by 34.6% in the first quarter. TIAA CREF Investment Management LLC now owns 148,476 shares of the company’s stock worth $5,562,000 after buying an additional 38,190 shares during the period. Chesley Taft & Associates LLC increased its position in shares of Virtusa Corp. by 6.3% in the second quarter. Chesley Taft & Associates LLC now owns 15,955 shares of the company’s stock worth $461,000 after buying an additional 950 shares during the period. California Public Employees Retirement System increased its position in shares of Virtusa Corp. by 39.0% in the second quarter. California Public Employees Retirement System now owns 114,300 shares of the company’s stock worth $3,301,000 after buying an additional 32,099 shares during the period. Nationwide Fund Advisors increased its position in shares of Virtusa Corp. by 2.0% in the second quarter. Nationwide Fund Advisors now owns 138,971 shares of the company’s stock worth $4,013,000 after buying an additional 2,661 shares during the period. Finally, Hartwell J M Limited Partnership increased its position in shares of Virtusa Corp. by 8.5% in the second quarter. Hartwell J M Limited Partnership now owns 242,050 shares of the company’s stock worth $6,990,000 after buying an additional 18,900 shares during the period. Hedge funds and other institutional investors own 85.76% of the company’s stock.
Virtusa Corp. 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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