Barrington Research Reiterates “$35.00” Price Target for Virtusa Co. (VRTU)
Virtusa Co. (NASDAQ:VRTU) has been given a $35.00 price target by investment analysts at Barrington Research in a research note issued on Thursday. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Barrington Research’s price target suggests a potential upside of 18.16% from the stock’s previous close.
Other analysts also recently issued reports about the company. SunTrust Banks, Inc. set a $32.00 price target on Virtusa and gave the stock a “buy” rating in a report on Friday, May 19th. Needham & Company LLC increased their price target on Virtusa from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, February 9th. Maxim Group reiterated a “buy” rating and set a $32.00 price target (up from $26.00) on shares of Virtusa in a report on Wednesday, January 25th. Zacks Investment Research upgraded Virtusa from a “sell” rating to a “hold” rating in a report on Saturday, February 18th. Finally, Cowen and Company upgraded Virtusa from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a report on Friday, March 24th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $34.43.
Virtusa (NASDAQ:VRTU) traded up 1.82% on Thursday, reaching $29.62. The company’s stock had a trading volume of 365,494 shares. The stock’s 50 day moving average price is $29.38 and its 200 day moving average price is $27.19. The company has a market cap of $882.47 million, a P/E ratio of 75.95 and a beta of 1.42. Virtusa has a 12 month low of $18.03 and a 12 month high of $35.58.
Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by $0.02. Virtusa had a return on equity of 4.32% and a net margin of 1.70%. The business had revenue of $226 million for the quarter, compared to analyst estimates of $226.67 million. During the same quarter in the previous year, the business posted $0.55 earnings per share. The business’s revenue was up 31.5% on a year-over-year basis. Equities research analysts forecast that Virtusa will post $1.58 earnings per share for the current year.
In other news, EVP Thomas R. Holler sold 29,873 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $28.00, for a total transaction of $836,444.00. Following the transaction, the executive vice president now owns 45,716 shares of the company’s stock, valued at approximately $1,280,048. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Keith Modder sold 24,242 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $29.10, for a total transaction of $705,442.20. Following the transaction, the chief operating officer now directly owns 191,423 shares in the company, valued at approximately $5,570,409.30. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,912 shares of company stock valued at $1,907,531. Company insiders own 9.92% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan boosted its position in 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. BNP Paribas Arbitrage SA boosted its position in Virtusa by 9.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,166 shares of the information technology services provider’s stock worth $186,000 after buying an additional 522 shares during the period. Mason Street Advisors LLC boosted its position in Virtusa by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,445 shares of the information technology services provider’s stock worth $195,000 after buying an additional 422 shares during the period. Atria Investments LLC bought a new position in Virtusa during the first quarter worth about $203,000. Finally, Miles Capital Inc. boosted its position in Virtusa by 7.2% in the fourth quarter. Miles Capital Inc. now owns 8,865 shares of the information technology services provider’s stock worth $223,000 after buying an additional 599 shares during the period. 93.20% of the stock is currently owned by 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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