Equities research analysts forecast that Virtusa Co. (NASDAQ:VRTU) will report sales of $259.07 million for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for Virtusa’s earnings, with estimates ranging from $258.48 million to $260.25 million. Virtusa posted sales of $217.21 million during the same quarter last year, which suggests a positive year over year growth rate of 19.3%. The company is scheduled to announce its next quarterly earnings report on Thursday, February 8th.

On average, analysts expect that Virtusa will report full year sales of $259.07 million for the current fiscal year, with estimates ranging from $998.35 million to $1.01 billion. For the next fiscal year, analysts forecast that the firm will report sales of $1.11 billion per share, with estimates ranging from $1.07 billion to $1.14 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover Virtusa.

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

VRTU has been the topic of a number of research reports. Zacks Investment Research upgraded shares of Virtusa from a “sell” rating to a “hold” rating in a report on Wednesday, November 15th. BidaskClub lowered shares of Virtusa from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 30th. Cantor Fitzgerald reiterated a “buy” rating and set a $37.00 target price on shares of Virtusa in a report on Sunday, November 5th. Cowen reiterated a “buy” rating and set a $37.00 target price on shares of Virtusa in a report on Thursday, October 12th. Finally, Maxim Group upgraded shares of Virtusa from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a report on Wednesday, November 8th. Two research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Virtusa currently has an average rating of “Buy” and an average price target of $47.25.

In other news, CEO Kris A. Canekeratne sold 10,000 shares of the firm’s stock in a transaction on Thursday, January 4th. The shares were sold at an average price of $45.06, for a total value of $450,600.00. Following the sale, the chief executive officer now directly owns 559,491 shares in the company, valued at approximately $25,210,664.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Raj Rajgopal sold 4,025 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $44.35, for a total transaction of $178,508.75. Following the completion of the sale, the insider now owns 98,576 shares in the company, valued at $4,371,845.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,580 shares of company stock worth $2,969,764. 5.96% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently made changes to their positions in VRTU. Schwab Charles Investment Management Inc. raised its holdings in shares of Virtusa by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 118,351 shares of the information technology services provider’s stock valued at $3,480,000 after purchasing an additional 1,324 shares in the last quarter. Arizona State Retirement System raised its holdings in shares of Virtusa by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 14,455 shares of the information technology services provider’s stock valued at $425,000 after purchasing an additional 100 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of Virtusa by 2.9% in the 2nd quarter. Rhumbline Advisers now owns 54,201 shares of the information technology services provider’s stock valued at $1,594,000 after purchasing an additional 1,523 shares in the last quarter. SG Americas Securities LLC acquired a new stake in shares of Virtusa in the 2nd quarter valued at $120,000. Finally, Bank of New York Mellon Corp raised its holdings in shares of Virtusa by 2.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 332,829 shares of the information technology services provider’s stock valued at $9,784,000 after purchasing an additional 8,195 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Virtusa (VRTU) opened at $45.85 on Friday. The firm has a market cap of $1,350.00, a P/E ratio of 64.58, a P/E/G ratio of 2.14 and a beta of 1.72. Virtusa has a 1 year low of $24.84 and a 1 year high of $48.71. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18.

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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.

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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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