Virtusa (NASDAQ:VRTU) updated its first quarter earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $0.37-0.43 for the period, compared to the Thomson Reuters consensus estimate of $0.62. The company issued revenue guidance of $313-321 million, compared to the consensus revenue estimate of $334.34 million.Virtusa also updated its FY 2020 guidance to $2.58-2.82 EPS.
VRTU has been the subject of several recent research reports. Barrington Research reissued a buy rating and issued a $64.00 price target on shares of Virtusa in a research report on Friday, May 10th. Zacks Investment Research downgraded Virtusa from a buy rating to a hold rating in a research note on Wednesday, May 1st. BidaskClub downgraded Virtusa from a buy rating to a hold rating in a research note on Tuesday, April 16th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $62.00 price target on shares of Virtusa in a research report on Friday, February 8th. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Virtusa presently has an average rating of Buy and a consensus price target of $62.83.
Shares of NASDAQ:VRTU traded up $1.63 during midday trading on Wednesday, hitting $54.20. The company had a trading volume of 72,163 shares, compared to its average volume of 112,224. Virtusa has a twelve month low of $37.80 and a twelve month high of $58.60. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.35 and a current ratio of 2.35. The stock has a market cap of $1.57 billion, a PE ratio of 60.90, a P/E/G ratio of 1.34 and a beta of 1.05.
In related news, CEO Kris A. Canekeratne sold 10,160 shares of Virtusa stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $51.00, for a total value of $518,160.00. Following the completion of the transaction, the chief executive officer now directly owns 635,547 shares in the company, valued at $32,412,897. 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 on Friday, May 3rd. The shares were sold at an average price of $55.05, for a total value of $660,600.00. Following the completion of the transaction, the chief executive officer now owns 585,117 shares of the company’s stock, valued at $32,210,690.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 158,175 shares of company stock valued at $8,295,869. 5.11% of the stock is owned by insiders.
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Virtusa Company Profile
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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