Virtusa (NASDAQ:VRTU) was upgraded by equities researchers at BidaskClub from a “hold” rating to a “buy” rating in a report released on Saturday.

VRTU has been the subject of several other research reports. TheStreet raised Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. SunTrust Banks reaffirmed a “buy” rating and set a $52.00 target price on shares of Virtusa in a research note on Friday, November 10th. Maxim Group raised Virtusa from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, November 8th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $37.00 target price on shares of Virtusa in a research note on Sunday, November 5th. Finally, Cowen reaffirmed a “buy” rating and set a $37.00 target price on shares of Virtusa in a research note on Thursday, October 12th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $49.25.

Virtusa (VRTU) opened at $48.01 on Friday. Virtusa has a 52 week low of $24.84 and a 52 week high of $48.71. The stock has a market capitalization of $1,395.74, a price-to-earnings ratio of 54.01, a PEG ratio of 2.29 and a beta of 1.72. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.18.

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

In related news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction on Tuesday, November 14th. The stock was sold at an average price of $46.04, for a total value of $552,480.00. Following the completion of the transaction, the chief executive officer now owns 559,491 shares in the company, valued at approximately $25,758,965.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Raj Rajgopal sold 4,025 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $44.35, for a total value of $178,508.75. Following the completion of the transaction, the insider now owns 98,576 shares of the company’s stock, valued at approximately $4,371,845.60. The disclosure for this sale can be found here. Insiders have sold 89,580 shares of company stock valued at $4,095,604 in the last ninety days. Company insiders own 5.96% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC acquired a new position in shares of Virtusa in the 2nd quarter valued at $120,000. Victory Capital Management Inc. acquired a new position in shares of Virtusa in the 3rd quarter valued at $130,000. Piedmont Investment Advisors LLC acquired a new position in shares of Virtusa in the 3rd quarter valued at $224,000. Trexquant Investment LP acquired a new position in shares of Virtusa in the 3rd quarter valued at $247,000. Finally, ETRADE Capital Management LLC acquired a new position in shares of Virtusa in the 2nd quarter valued at $260,000. Institutional investors and hedge funds own 88.00% 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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