Virtusa (NASDAQ:VRTU) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a report issued on Thursday, September 20th.
Several other analysts also recently commented on VRTU. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $57.00 target price on the stock in a research note on Sunday, July 15th. Barrington Research restated a “buy” rating and issued a $55.00 price target on shares of Virtusa in a research note on Thursday, August 2nd. Cantor Fitzgerald restated a “buy” rating and issued a $60.00 price target on shares of Virtusa in a research note on Tuesday, May 29th. Needham & Company LLC raised their price target on Virtusa from $65.00 to $68.00 and gave the stock a “strong-buy” rating in a research note on Thursday, August 9th. Finally, Wedbush raised their target price on Virtusa from $60.00 to $70.00 and gave the stock an “outperform” rating in a report on Friday, August 31st. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have given a strong buy rating to the stock. Virtusa presently has a consensus rating of “Buy” and a consensus price target of $62.00.
Shares of Virtusa stock traded up $0.03 during midday trading on Thursday, hitting $49.07. The company had a trading volume of 231,192 shares, compared to its average volume of 184,786. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $1.60 billion, a P/E ratio of 55.13, a PEG ratio of 1.69 and a beta of 1.25. Virtusa has a 52-week low of $34.79 and a 52-week high of $58.60.
Virtusa (NASDAQ:VRTU) last issued its earnings results on Wednesday, August 8th. The information technology services provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.47 by $0.03. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. The business had revenue of $300.00 million for the quarter, compared to the consensus estimate of $298.00 million. During the same period last year, the business posted $0.25 EPS. The company’s revenue was up 32.0% compared to the same quarter last year. As a group, equities analysts expect that Virtusa will post 1.59 EPS for the current year.
In other news, President Samir Dhir sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 13th. The stock was sold at an average price of $52.89, for a total transaction of $211,560.00. Following the completion of the transaction, the president now owns 129,045 shares in the company, valued at $6,825,190.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 3,000 shares of the firm’s stock in a transaction dated Friday, August 17th. The shares were sold at an average price of $53.17, for a total value of $159,510.00. Following the transaction, the chief executive officer now owns 722,691 shares of the company’s stock, valued at approximately $38,425,480.47. The disclosure for this sale can be found here. 5.11% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Redwood Investments LLC grew its position in Virtusa by 30.9% in the second quarter. Redwood Investments LLC now owns 398,295 shares of the information technology services provider’s stock worth $19,389,000 after acquiring an additional 94,102 shares in the last quarter. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Virtusa during the second quarter valued at approximately $229,000. KBC Group NV boosted its position in shares of Virtusa by 28.0% during the second quarter. KBC Group NV now owns 51,674 shares of the information technology services provider’s stock valued at $2,515,000 after buying an additional 11,292 shares during the period. Rhumbline Advisers boosted its position in shares of Virtusa by 4.4% during the second quarter. Rhumbline Advisers now owns 67,018 shares of the information technology services provider’s stock valued at $3,262,000 after buying an additional 2,807 shares during the period. Finally, Strs Ohio boosted its position in shares of Virtusa by 8.7% during the second quarter. Strs Ohio now owns 21,300 shares of the information technology services provider’s stock valued at $1,036,000 after buying an additional 1,700 shares during the period. Institutional investors own 86.79% of the company’s stock.
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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