Virtusa Co. (NASDAQ:VRTU) – Equities researchers at Wedbush reduced their Q4 2018 earnings estimates for shares of Virtusa in a research report issued on Monday. Wedbush analyst M. Katri now expects that the information technology services provider will post earnings per share of $0.37 for the quarter, down from their previous estimate of $0.39. Wedbush also issued estimates for Virtusa’s Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.42 EPS and Q4 2019 earnings at $0.49 EPS.

A number of other equities research analysts also recently issued reports on VRTU. Zacks Investment Research downgraded shares of Virtusa from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $43.00 price target (up previously from $38.00) on shares of Virtusa in a research note on Saturday, August 19th. Cowen reaffirmed a “buy” rating and set a $37.00 price target on shares of Virtusa in a research note on Thursday, October 12th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $37.00 price target on shares of Virtusa in a research note on Sunday, November 5th. Finally, Maxim Group raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research note on Wednesday, November 8th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $45.00.

Virtusa (VRTU) traded down $0.11 during trading on Wednesday, reaching $45.12. 141,948 shares of the company were exchanged, compared to its average volume of 292,380. The stock has a market capitalization of $1,330.00, a P/E ratio of 51.31, a price-to-earnings-growth ratio of 2.17 and a beta of 1.71. 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 has a 52 week low of $24.26 and a 52 week high of $48.71.

Virtusa (NASDAQ:VRTU) last released its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping the consensus estimate of $0.24 by $0.11. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The firm had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Aperio Group LLC raised its stake in shares of Virtusa by 0.6% in the second quarter. Aperio Group LLC now owns 9,836 shares of the information technology services provider’s stock valued at $289,000 after acquiring an additional 60 shares during the period. Arizona State Retirement System raised its stake in shares of Virtusa by 0.7% in the second quarter. Arizona State Retirement System now owns 14,455 shares of the information technology services provider’s stock valued at $425,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System raised its stake in shares of Virtusa by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the information technology services provider’s stock valued at $332,000 after acquiring an additional 100 shares during the period. Municipal Employees Retirement System of Michigan raised its stake in shares of Virtusa by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock valued at $191,000 after acquiring an additional 260 shares during the period. Finally, Texas Permanent School Fund raised its stake in shares of Virtusa by 1.4% in the second quarter. Texas Permanent School Fund now owns 20,231 shares of the information technology services provider’s stock valued at $595,000 after acquiring an additional 276 shares during the period. 88.04% of the stock is currently owned by institutional investors and hedge funds.

In other news, CEO Kris A. Canekeratne sold 789 shares of the stock in a transaction on Monday, September 18th. The shares were sold at an average price of $36.09, for a total value of $28,475.01. Following the sale, the chief executive officer now owns 594,702 shares of the company’s stock, valued at $21,462,795.18. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Robert E. Davoli sold 1,505 shares of the stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $45.31, for a total transaction of $68,191.55. Following the completion of the sale, the director now directly owns 9,996 shares in the company, valued at approximately $452,918.76. The disclosure for this sale can be found here. In the last three months, insiders sold 89,580 shares of company stock worth $3,765,993. Insiders own 5.96% of the company’s stock.

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About Virtusa

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.

Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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