Virtusa (VRTU) PT Raised to $55.00 at Barrington Research

Virtusa (NASDAQ:VRTU) had its target price lifted by equities research analysts at Barrington Research from $52.00 to $55.00 in a research report issued to clients and investors on Friday. The brokerage currently has an “outperform” rating on the information technology services provider’s stock. Barrington Research’s price objective indicates a potential upside of 18.71% from the stock’s previous close.

VRTU has been the subject of several other reports. Zacks Investment Research cut Virtusa from a “buy” rating to a “hold” rating in a report on Sunday, January 21st. BidaskClub upgraded Virtusa from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Cantor Fitzgerald restated a “buy” rating and set a $37.00 target price on shares of Virtusa in a report on Sunday, November 5th. Cowen restated 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 Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, November 8th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Virtusa currently has a consensus rating of “Buy” and a consensus target price of $50.63.

Shares of Virtusa (NASDAQ:VRTU) opened at $46.33 on Friday. The firm has a market capitalization of $1,234.52, a PE ratio of 65.25, a P/E/G ratio of 2.02 and a beta of 1.48. Virtusa has a fifty-two week low of $25.72 and a fifty-two week 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.

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

In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction that occurred 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 sale, 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 document filed with the SEC, which is available at this link. Also, CEO Kris A. Canekeratne sold 10,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $45.48, for a total value of $454,800.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 65,555 shares of company stock valued at $3,013,598. Company insiders own 5.96% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its position in shares of Virtusa by 24.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,880,104 shares of the information technology services provider’s stock worth $55,276,000 after acquiring an additional 374,317 shares in the last quarter. Peregrine Capital Management LLC bought a new position in shares of Virtusa in the 3rd quarter worth approximately $9,115,000. Northern Trust Corp raised its position in shares of Virtusa by 48.6% in the 2nd quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock worth $17,309,000 after acquiring an additional 192,475 shares in the last quarter. Mesirow Financial Investment Management Equity Management raised its position in shares of Virtusa by 80.0% in the 3rd quarter. Mesirow Financial Investment Management Equity Management now owns 422,359 shares of the information technology services provider’s stock worth $15,957,000 after acquiring an additional 187,675 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Virtusa by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock worth $60,964,000 after acquiring an additional 119,133 shares in 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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