Virtusa (VRTU) Updates FY20 Earnings Guidance

Virtusa (NASDAQ:VRTU) issued an update on its FY20 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.58-2.82 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.80. The company issued revenue guidance of $1.36-1.40 billion, compared to the consensus revenue estimate of $1.40 billion.Virtusa also updated its FY 2020 guidance to $2.58-2.82 EPS.

Virtusa stock traded up $1.63 during trading hours on Wednesday, reaching $54.20. 72,163 shares of the stock were exchanged, compared to its average volume of 112,224. The company has a market capitalization of $1.57 billion, a price-to-earnings ratio of 60.90, a PEG 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. Virtusa has a twelve month low of $37.80 and a twelve month high of $58.60.

A number of research firms have recently weighed in on VRTU. Zacks Investment Research upgraded shares of Virtusa from a hold rating to a buy rating and set a $61.00 price target on the stock in a research note on Friday, April 12th. BidaskClub lowered shares of Virtusa from a buy rating to a hold rating in a report on Tuesday, April 16th. Barrington Research restated a buy rating and set a $64.00 price target on shares of Virtusa in a report on Friday, May 10th. Finally, Cantor Fitzgerald reaffirmed a buy rating and set a $62.00 price objective on shares of Virtusa in a report on Friday, February 8th. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $62.83.

In related news, CFO Ranjan Kalia sold 900 shares of the business’s stock in a transaction dated Wednesday, February 20th. The stock was sold at an average price of $51.05, for a total value of $45,945.00. Following the sale, the chief financial officer now directly owns 149,128 shares in the company, valued at approximately $7,612,984.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 585,117 shares in the company, valued at $32,210,690.85. The disclosure for this sale can be found here. Insiders sold a total of 158,175 shares of company stock worth $8,295,869 over the last 90 days. 5.11% of the stock is currently owned by company insiders.

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About Virtusa

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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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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