Virtusa (NASDAQ:VRTU) issued an update on its FY 2020 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.58-2.82 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.28. The company issued revenue guidance of $1.359-1.399 billion, compared to the consensus revenue estimate of $1.25 billion.Virtusa also updated its Q1 2020 guidance to $0.37-0.43 EPS.
Shares of VRTU stock traded up $1.63 during mid-day trading on Wednesday, reaching $54.20. The stock had a trading volume of 107,219 shares, compared to its average volume of 112,224. Virtusa has a 12-month low of $37.80 and a 12-month high of $58.60. The stock has a market cap of $1.57 billion, a P/E ratio of 60.90, a P/E/G ratio of 1.34 and a beta of 1.05. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.82.
A number of research analysts have recently weighed in on VRTU shares. Cantor Fitzgerald restated a buy rating and issued a $62.00 price target on shares of Virtusa in a research report on Friday, February 8th. BidaskClub cut Virtusa from a buy rating to a hold rating in a research report on Friday, February 15th. Barrington Research restated a buy rating and issued a $64.00 price target on shares of Virtusa in a research report on Friday, May 10th. Finally, Zacks Investment Research upgraded Virtusa from a sell rating to a hold rating in a research report on Thursday, February 14th. Two investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $62.83.
In related news, CEO Kris A. Canekeratne sold 62,175 shares of Virtusa stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $51.19, for a total transaction of $3,182,738.25. Following the completion of the sale, the chief executive officer now owns 683,292 shares in the company, valued at approximately $34,977,717.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction dated Wednesday, April 10th. The stock was sold at an average price of $56.41, for a total value of $676,920.00. Following the sale, the chief executive officer now owns 597,117 shares of the company’s stock, valued at approximately $33,683,369.97. The disclosure for this sale can be found here. In the last quarter, insiders have sold 158,175 shares of company stock valued at $8,295,869. 5.11% of the stock is currently owned by company insiders.
Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.
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