Virtusa Corporation (VRTU) Receives Consensus Rating of “Buy” from Analysts
Shares of Virtusa Corporation (NASDAQ:VRTU) have earned a consensus rating of “Buy” from the ten brokerages that are presently covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The average 12-month price target among analysts that have covered the stock in the last year is $38.17.
Several analysts have recently weighed in on VRTU shares. Zacks Investment Research upgraded shares of Virtusa Corporation from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research report on Wednesday, July 19th. BidaskClub downgraded shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Cowen and Company restated a “buy” rating and set a $36.00 price objective on shares of Virtusa Corporation in a research report on Friday, July 28th. ValuEngine upgraded shares of Virtusa Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $43.00 price objective (up previously from $38.00) on shares of Virtusa Corporation in a research report on Saturday, August 19th.
In related news, Director Trust Martin sold 3,080 shares of the company’s stock in a transaction on Wednesday, August 30th. The shares were sold at an average price of $35.55, for a total value of $109,494.00. Following the completion of the sale, the director now owns 22,716 shares in the company, valued at approximately $807,553.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The shares were sold at an average price of $33.63, for a total transaction of $403,560.00. Following the completion of the sale, the chief executive officer now owns 587,920 shares of the company’s stock, valued at approximately $19,771,749.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 121,852 shares of company stock valued at $4,379,223. 5.96% of the stock is owned by insiders.
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Virtusa Corporation (NASDAQ:VRTU) opened at 38.22 on Thursday. The firm’s 50-day moving average is $36.94 and its 200-day moving average is $32.47. Virtusa Corporation has a 52 week low of $18.03 and a 52 week high of $39.07. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 55.31 and a beta of 1.67.
Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.16 by $0.09. The business had revenue of $227.30 million during the quarter, compared to the consensus estimate of $224.46 million. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The company’s revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.18 EPS. On average, equities analysts anticipate that Virtusa Corporation will post $1.53 earnings per share for the current year.
Virtusa Corporation 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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