Virtusa (VRTU) Given a $59.00 Price Target at Maxim Group

Virtusa (NASDAQ:VRTU) has been given a $59.00 price target by Maxim Group in a research report issued on Thursday, MarketBeat.com reports. The firm currently has a “buy” rating on the information technology services provider’s stock. Maxim Group’s price target suggests a potential upside of 27.35% from the stock’s current price.

A number of other research firms also recently commented on VRTU. Needham & Company LLC increased their price objective on shares of Virtusa to $55.00 and gave the stock a “buy” rating in a research note on Friday, November 17th. Zacks Investment Research upgraded shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price objective for the company in a research note on Thursday, January 25th. TheStreet upgraded shares of Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Cowen restated a “buy” rating and set a $55.00 price objective on shares of Virtusa in a research note on Thursday, December 14th. Finally, Cantor Fitzgerald restated a “buy” rating and set a $37.00 price objective on shares of Virtusa in a research note on Sunday, November 5th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $50.25.

Virtusa (NASDAQ VRTU) traded up $4.29 during trading on Thursday, hitting $46.33. 560,688 shares of the stock were exchanged, compared to its average volume of 178,739. Virtusa has a one year low of $25.20 and a one year high of $48.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.03. The firm has a market cap of $1,360.00, a P/E ratio of 65.25, a price-to-earnings-growth ratio of 2.06 and a beta of 1.48.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The company had revenue of $263.80 million during the quarter, compared to the consensus estimate of $259.81 million. During the same period in the prior year, the business posted $0.37 EPS. The company’s quarterly revenue was up 21.5% on a year-over-year basis. analysts expect that Virtusa will post 1.04 earnings per share for the current year.

In related news, insider Raj Rajgopal sold 14,025 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $45.02, for a total value of $631,405.50. Following the completion of the sale, the insider now directly owns 108,576 shares in the company, valued at approximately $4,888,091.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 10,000 shares of the firm’s stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $45.06, for a total transaction of $450,600.00. Following the completion of the sale, the chief executive officer now owns 571,491 shares of the company’s stock, valued at $25,751,384.46. The disclosure for this sale can be found here. Insiders sold a total of 89,580 shares of company stock valued at $4,095,604 over the last quarter. 5.96% of the stock is currently owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Wells Fargo & Company MN lifted its stake in Virtusa by 26.1% in the 4th quarter. Wells Fargo & Company MN now owns 42,736 shares of the information technology services provider’s stock valued at $1,884,000 after purchasing an additional 8,837 shares during the last quarter. First Trust Advisors LP acquired a new stake in Virtusa in the 4th quarter valued at about $3,330,000. LS Investment Advisors LLC lifted its stake in Virtusa by 359.5% in the 4th quarter. LS Investment Advisors LLC now owns 4,411 shares of the information technology services provider’s stock valued at $194,000 after purchasing an additional 3,451 shares during the last quarter. KBC Group NV acquired a new stake in Virtusa in the 4th quarter valued at about $393,000. Finally, Swiss National Bank lifted its stake in Virtusa by 4.1% in the 4th quarter. Swiss National Bank now owns 48,300 shares of the information technology services provider’s stock valued at $2,129,000 after purchasing an additional 1,900 shares during the last quarter. Institutional investors and hedge funds own 86.54% 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.

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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