Virtusa (VRTU) Updates Q1 2020 Earnings Guidance

Virtusa (NASDAQ:VRTU) issued an update on its first quarter 2020 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $0.37-0.43 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.61. The company issued revenue guidance of $313-321 million, compared to the consensus revenue estimate of $334.45 million.Virtusa also updated its FY 2020 guidance to $2.58-2.82 EPS.

NASDAQ:VRTU traded up $1.63 during mid-day trading on Wednesday, reaching $54.20. 72,163 shares of the company’s stock traded hands, 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 company 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. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.35 and a quick ratio of 2.35.

A number of research analysts recently issued reports on VRTU shares. Barrington Research restated a buy rating and set a $64.00 price target on shares of Virtusa in a report on Tuesday, January 29th. BidaskClub downgraded Virtusa from a buy rating to a hold rating in a report on Tuesday, April 16th. Cantor Fitzgerald restated a buy rating and set a $62.00 price target on shares of Virtusa in a report on Friday, February 8th. Finally, Zacks Investment Research downgraded Virtusa from a buy rating to a hold rating in a report on Wednesday, May 1st. Two 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. The stock currently has an average rating of Buy and a consensus target price of $62.83.

In other Virtusa news, CEO Kris A. Canekeratne sold 62,175 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $56.41, for a total value of $676,920.00. Following the transaction, the chief executive officer now owns 597,117 shares in the company, valued at approximately $33,683,369.97. The disclosure for this sale can be found here. Insiders have sold a total of 158,175 shares of company stock worth $8,295,869 in the last quarter. Company insiders own 5.11% of the company’s stock.

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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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