Equities analysts predict that Virtusa Co. (NASDAQ:VRTU) will report $278.94 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Virtusa’s earnings, with estimates ranging from $276.80 million to $282.00 million. Virtusa reported sales of $225.96 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 23.4%. The company is expected to issue its next earnings report on Tuesday, May 15th.
According to Zacks, analysts expect that Virtusa will report full-year sales of $278.94 million for the current year. For the next financial year, analysts forecast that the company will report sales of $1.17 billion per share, with estimates ranging from $1.13 billion to $1.25 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Virtusa.
Virtusa (NASDAQ:VRTU) last released its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The business had revenue of $263.80 million for the quarter, compared to the consensus estimate of $259.81 million. During the same period in the previous year, the company posted $0.37 earnings per share. The company’s revenue for the quarter was up 21.5% compared to the same quarter last year.
VRTU has been the subject of several recent analyst reports. ValuEngine upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price target for the company in a research note on Thursday, January 25th. Wedbush cut Virtusa from an “outperform” rating to a “neutral” rating and boosted their price target for the stock from $55.00 to $60.00 in a research note on Tuesday, March 13th. Cowen restated a “buy” rating and issued a $55.00 price target on shares of Virtusa in a research note on Thursday, December 14th. Finally, Needham & Company LLC boosted their price target on Virtusa to $65.00 and gave the stock a “buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $57.88.
Virtusa (NASDAQ:VRTU) traded up $0.82 during trading on Wednesday, reaching $50.00. The company’s stock had a trading volume of 204,692 shares, compared to its average volume of 229,281. Virtusa has a twelve month low of $25.72 and a twelve month high of $52.88. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.23. The company has a market capitalization of $1,447.35, a P/E ratio of 277.78, a price-to-earnings-growth ratio of 2.47 and a beta of 1.35.
In related news, insider Raj Rajgopal sold 41,108 shares of the company’s stock in a transaction on Friday, March 16th. The stock was sold at an average price of $49.36, for a total transaction of $2,029,090.88. Following the completion of the sale, the insider now owns 86,661 shares in the company, valued at $4,277,586.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 3,000 shares of the company’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $47.60, for a total value of $142,800.00. Following the sale, the chief executive officer now owns 497,827 shares of the company’s stock, valued at approximately $23,696,565.20. The disclosure for this sale can be found here. Insiders sold 168,027 shares of company stock valued at $8,204,664 in the last 90 days. Company insiders own 5.96% of the company’s stock.
A number of institutional investors have recently bought and sold shares of the stock. We Are One Seven LLC purchased a new stake in Virtusa during the fourth quarter valued at $143,000. Pier Capital LLC purchased a new stake in Virtusa during the fourth quarter valued at $5,507,000. MetLife Investment Advisors LLC purchased a new stake in Virtusa during the fourth quarter valued at $519,000. Gotham Asset Management LLC purchased a new stake in Virtusa during the fourth quarter valued at $337,000. Finally, Municipal Employees Retirement System of Michigan increased its position in Virtusa by 25.8% during the fourth quarter. Municipal Employees Retirement System of Michigan now owns 13,080 shares of the information technology services provider’s stock valued at $576,000 after acquiring an additional 2,680 shares during the last quarter. Institutional investors own 86.65% of the company’s stock.
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.
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