Virtusa Corp. (VRTU) Receives Consensus Rating of “Buy” from Analysts
Shares of Virtusa Corp. (NASDAQ:VRTU) have been assigned a consensus recommendation of “Buy” from the ten analysts that are currently covering the stock. Five analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price target among brokers that have covered the stock in the last year is $37.75.
Several brokerages have recently weighed in on VRTU. Zacks Investment Research raised shares of Virtusa Corp. from a “strong sell” rating to a “hold” rating in a research note on Wednesday, October 12th. Cantor Fitzgerald set a $28.00 target price on shares of Virtusa Corp. and gave the company a “buy” rating in a research note on Sunday, September 11th. Wedbush began coverage on shares of Virtusa Corp. in a research note on Thursday, September 8th. They issued a “neutral” rating and a $29.00 target price on the stock. TheStreet downgraded shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a research note on Monday, August 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $32.00 target price (down previously from $45.00) on shares of Virtusa Corp. in a research note on Thursday, August 11th.
In other Virtusa Corp. news, CEO Kris A. Canekeratne sold 24,000 shares of the stock in a transaction dated Friday, September 9th. The shares were sold at an average price of $26.01, for a total transaction of $624,240.00. Following the transaction, the chief executive officer now directly owns 826,133 shares in the company, valued at approximately $21,487,719.33. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Ronald T. Maheu sold 3,423 shares of the stock in a transaction dated Monday, September 12th. The stock was sold at an average price of $26.25, for a total transaction of $89,853.75. Following the transaction, the director now owns 40,533 shares in the company, valued at $1,063,991.25. The disclosure for this sale can be found here. 9.92% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. PineBridge Investments L.P. boosted its position in shares of Virtusa Corp. by 4.2% in the second quarter. PineBridge Investments L.P. now owns 3,454 shares of the company’s stock valued at $100,000 after buying an additional 139 shares during the last quarter. Teacher Retirement System of Texas boosted its position in shares of Virtusa Corp. by 13.9% in the second quarter. Teacher Retirement System of Texas now owns 3,961 shares of the company’s stock valued at $114,000 after buying an additional 482 shares during the last quarter. Mason Street Advisors LLC acquired a new position in shares of Virtusa Corp. during the second quarter valued at about $154,000. Fifth Third Bancorp boosted its position in shares of Virtusa Corp. by 57.1% in the second quarter. Fifth Third Bancorp now owns 5,499 shares of the company’s stock valued at $159,000 after buying an additional 1,998 shares during the last quarter. Finally, JPMorgan Chase & Co. acquired a new position in shares of Virtusa Corp. during the second quarter valued at about $180,000. Institutional investors own 85.76% of the company’s stock.
Shares of Virtusa Corp. (NASDAQ:VRTU) traded down 0.41% during midday trading on Tuesday, hitting $21.89. 69,974 shares of the stock were exchanged. The stock has a market cap of $653.83 million, a P/E ratio of 23.09 and a beta of 1.42. Virtusa Corp. has a 12 month low of $20.74 and a 12 month high of $59.40. The firm has a 50 day moving average of $24.49 and a 200-day moving average of $29.66.
Virtusa Corp. (NASDAQ:VRTU) last released its quarterly earnings results on Tuesday, August 9th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.02. The company had revenue of $205.50 million for the quarter, compared to the consensus estimate of $203.82 million. Virtusa Corp. had a net margin of 4.24% and a return on equity of 7.38%. Virtusa Corp.’s revenue was up 52.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.48 earnings per share. Equities research analysts anticipate that Virtusa Corp. will post $1.63 EPS for the current year.
Virtusa Corp. Company Profile
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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