Virtusa (NASDAQ:VRTU)‘s stock had its “buy” rating reissued by analysts at Cowen in a research report issued to clients and investors on Thursday. They presently have a $55.00 price target on the information technology services provider’s stock. Cowen’s target price suggests a potential upside of 24.01% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Zacks Investment Research lowered Virtusa from a “hold” rating to a “sell” rating in a research report on Thursday, September 14th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price (up previously from $38.00) on shares of Virtusa in a research report on Saturday, August 19th. TheStreet raised Virtusa from a “c” rating to a “b-” rating in a research report on Wednesday, November 8th. SunTrust Banks reaffirmed a “buy” rating and set a $52.00 price target on shares of Virtusa in a research report on Friday, November 10th. Finally, Maxim Group raised Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price target on the stock in a research report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $47.25.

Virtusa (VRTU) traded down $0.77 during midday trading on Thursday, hitting $44.35. The stock had a trading volume of 138,312 shares, compared to its average volume of 291,740. The firm has a market capitalization of $1,328.20, a price-to-earnings ratio of 51.40, a P/E/G ratio of 2.17 and a beta of 1.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.03. Virtusa has a 52 week low of $24.26 and a 52 week high of $48.71.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.11. The company had revenue of $248.20 million for the quarter, compared to analyst estimates of $237.48 million. Virtusa had a return on equity of 4.86% and a net margin of 2.54%. Virtusa’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.27 earnings per share. analysts anticipate that Virtusa will post 1.04 EPS for the current fiscal year.

In other news, CEO Kris A. Canekeratne sold 789 shares of the company’s stock in a transaction on Monday, September 18th. The stock was sold at an average price of $36.09, for a total transaction of $28,475.01. Following the completion of the sale, the chief executive officer now directly owns 594,702 shares in the company, valued at approximately $21,462,795.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert E. Davoli sold 1,505 shares of the company’s stock in a transaction on Tuesday, December 12th. The shares were sold at an average price of $45.31, for a total value of $68,191.55. Following the sale, the director now owns 9,996 shares of the company’s stock, valued at $452,918.76. The disclosure for this sale can be found here. Insiders sold a total of 89,580 shares of company stock valued at $3,765,993 over the last 90 days. 5.96% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Victory Capital Management Inc. acquired a new position in shares of Virtusa during the 3rd quarter worth $130,000. US Bancorp DE raised its holdings in shares of Virtusa by 10.3% during the 2nd quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after buying an additional 327 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Virtusa during the 2nd quarter worth $120,000. Piedmont Investment Advisors LLC acquired a new position in shares of Virtusa during the 3rd quarter worth $224,000. Finally, Municipal Employees Retirement System of Michigan raised its holdings in shares of Virtusa by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after buying an additional 260 shares in the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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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.

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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