Virtusa Corporation (NASDAQ:VRTU) had its target price upped by stock analysts at Needham & Company LLC to $55.00 in a note issued to investors on Friday, The Fly reports. The brokerage currently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price objective points to a potential upside of 20.38% from the company’s current price.

VRTU has been the topic of several other research reports. Cowen and Company restated a “buy” rating and set a $36.00 price target on shares of Virtusa Corporation in a report on Friday, July 28th. Zacks Investment Research downgraded Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub upgraded Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Barrington Research upped their price objective on Virtusa Corporation to $52.00 and gave the stock an “outperform” rating in a research report on Thursday, November 9th. Finally, SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $52.00 price objective on shares of Virtusa Corporation in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $45.00.

Shares of Virtusa Corporation (VRTU) opened at $45.69 on Friday. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18. Virtusa Corporation has a 1-year low of $19.50 and a 1-year high of $48.15. The firm has a market capitalization of $1,339.06, a PE ratio of 51.82, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66.

Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.24 by $0.11. Virtusa Corporation had a return on equity of 4.86% and a net margin of 2.54%. The company had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. During the same quarter in the prior year, the business earned $0.27 EPS. Virtusa Corporation’s revenue was up 18.1% on a year-over-year basis. equities analysts expect that Virtusa Corporation will post 1.04 earnings per share for the current year.

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In related news, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction dated Friday, September 1st. The stock was sold at an average price of $36.05, for a total value of $145,101.25. Following the completion of the sale, the insider now directly owns 107,216 shares of the company’s stock, valued at approximately $3,865,136.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kris A. Canekeratne sold 10,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $36.07, for a total value of $360,700.00. Following the completion of the sale, the chief executive officer now directly owns 595,491 shares of the company’s stock, valued at $21,479,360.37. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 106,351 shares of company stock valued at $4,211,925. Insiders own 5.96% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Piedmont Investment Advisors LLC acquired a new stake in shares of Virtusa Corporation in the 3rd quarter valued at about $224,000. Granahan Investment Management Inc. MA boosted its position in shares of Virtusa Corporation by 0.6% in the 3rd quarter. Granahan Investment Management Inc. MA now owns 516,612 shares of the information technology services provider’s stock valued at $19,518,000 after purchasing an additional 3,137 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Virtusa Corporation by 4.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,972,230 shares of the information technology services provider’s stock valued at $74,511,000 after purchasing an additional 92,126 shares during the period. Schwab Charles Investment Management Inc. boosted its position in shares of Virtusa Corporation by 6.6% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 126,163 shares of the information technology services provider’s stock valued at $4,767,000 after purchasing an additional 7,812 shares during the period. Finally, Wells Fargo & Company MN raised its stake in Virtusa Corporation by 51.2% during the 3rd quarter. Wells Fargo & Company MN now owns 33,899 shares of the information technology services provider’s stock valued at $1,281,000 after acquiring an additional 11,482 shares during the last quarter. 91.76% of the stock is owned by hedge funds and other institutional investors.

About Virtusa Corporation

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.

The Fly

Analyst Recommendations for Virtusa Corporation (NASDAQ:VRTU)

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