Several other analysts also recently weighed in on VRTU. TheStreet downgraded shares of Virtusa from a b- rating to a c+ rating in a report on Wednesday, May 29th. Zacks Investment Research downgraded shares of Virtusa from a hold rating to a sell rating in a report on Friday, September 13th. Barrington Research reaffirmed a buy rating and issued a $60.00 target price on shares of Virtusa in a report on Tuesday. ValuEngine downgraded shares of Virtusa from a buy rating to a hold rating in a report on Saturday, August 10th. Finally, Needham & Company LLC downgraded shares of Virtusa from a strong-buy rating to a buy rating and lowered their target price for the company from $50.00 to $48.00 in a report on Tuesday, September 10th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $54.17.
Shares of NASDAQ:VRTU opened at $38.75 on Wednesday. The company has a market cap of $1.19 billion, a price-to-earnings ratio of 26.54, a PEG ratio of 1.13 and a beta of 1.20. The firm’s 50-day simple moving average is $37.88 and its 200-day simple moving average is $45.89. The company has a quick ratio of 2.58, a current ratio of 2.58 and a debt-to-equity ratio of 0.99. Virtusa has a fifty-two week low of $31.99 and a fifty-two week high of $57.00.
Virtusa (NASDAQ:VRTU) last issued its earnings results on Thursday, August 8th. The information technology services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The business had revenue of $319.00 million for the quarter, compared to the consensus estimate of $317.59 million. Virtusa had a net margin of 2.23% and a return on equity of 11.67%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 earnings per share. On average, research analysts forecast that Virtusa will post 1.93 EPS for the current year.
In related news, CEO Kris A. Canekeratne sold 15,000 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $36.57, for a total transaction of $548,550.00. Following the sale, the chief executive officer now owns 706,748 shares of the company’s stock, valued at $25,845,774.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Kris A. Canekeratne sold 7,500 shares of the business’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $44.31, for a total transaction of $332,325.00. Following the sale, the chief executive officer now directly owns 723,926 shares in the company, valued at approximately $32,077,161.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,500 shares of company stock worth $1,024,515. 4.73% of the stock is owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings in Virtusa by 1,640.5% during the second quarter. Tower Research Capital LLC TRC now owns 644 shares of the information technology services provider’s stock worth $29,000 after buying an additional 607 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in Virtusa during the second quarter worth about $42,000. Financial Gravity Wealth Inc. acquired a new position in Virtusa during the second quarter worth about $56,000. Oppenheimer Asset Management Inc. raised its position in Virtusa by 35.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,495 shares of the information technology services provider’s stock worth $66,000 after acquiring an additional 390 shares during the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Virtusa during the second quarter worth about $79,000. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
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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