Q3 2017 EPS Estimates for Virtusa Corp. Decreased by Wedbush (VRTU)
Virtusa Corp. (NASDAQ:VRTU) – Wedbush decreased their Q3 2017 earnings estimates for shares of Virtusa Corp. in a report issued on Thursday. Wedbush analyst M. Katri now expects that the firm will post earnings per share of $0.40 for the quarter, down from their previous estimate of $0.41. Wedbush has a “Neutral” rating and a $29.00 price objective on the stock.
Virtusa Corp. (NASDAQ:VRTU) last issued its quarterly earnings results on Wednesday, November 9th. The company reported $0.27 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.28 by $0.01. Virtusa Corp. had a return on equity of 5.34% and a net margin of 2.79%. The firm had revenue of $164.80 million for the quarter, compared to analyst estimates of $209.43 million. During the same quarter last year, the firm earned $0.50 earnings per share. The company’s revenue was up 46.9% compared to the same quarter last year.
A number of other analysts have also recently weighed in on the stock. Needham & Company LLC dropped their price objective on shares of Virtusa Corp. from $32.00 to $24.00 and set a “buy” rating on the stock in a report on Thursday. Maxim Group dropped their price objective on shares of Virtusa Corp. from $36.00 to $26.00 and set a “buy” rating on the stock in a report on Thursday. Zacks Investment Research raised shares of Virtusa Corp. from a “strong sell” rating to a “hold” rating in a report on Wednesday, October 12th. Cantor Fitzgerald set a $28.00 price objective on shares of Virtusa Corp. and gave the stock a “buy” rating in a report on Sunday, September 11th. Finally, TheStreet cut shares of Virtusa Corp. from a “buy” rating to a “hold” rating in a report on Monday, August 15th. Five research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $36.00.
Virtusa Corp. (NASDAQ:VRTU) opened at 19.96 on Monday. Virtusa Corp. has a 52 week low of $18.03 and a 52 week high of $52.04. The firm has a market capitalization of $591.14 million, a price-to-earnings ratio of 29.05 and a beta of 1.38. The stock’s 50 day moving average is $21.57 and its 200-day moving average is $27.46.
Institutional investors have recently made changes to their positions in the company. FMR LLC boosted its position in shares of Virtusa Corp. by 38.8% in the second quarter. FMR LLC now owns 4,488,600 shares of the company’s stock valued at $129,631,000 after buying an additional 1,254,584 shares in the last quarter. Waddell & Reed Financial Inc. boosted its position in shares of Virtusa Corp. by 35.8% in the second quarter. Waddell & Reed Financial Inc. now owns 2,571,741 shares of the company’s stock valued at $74,271,000 after buying an additional 677,285 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of Virtusa Corp. by 8.3% in the third quarter. BlackRock Fund Advisors now owns 1,873,209 shares of the company’s stock valued at $46,231,000 after buying an additional 142,994 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Virtusa Corp. by 2.0% in the second quarter. Vanguard Group Inc. now owns 1,702,782 shares of the company’s stock valued at $49,177,000 after buying an additional 33,707 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in shares of Virtusa Corp. during the third quarter valued at approximately $25,092,000. 85.76% of the stock is currently owned by institutional investors.
In other news, CEO Kris A. Canekeratne sold 24,000 shares of Virtusa Corp. stock in a transaction that occurred on Friday, September 9th. The shares were sold at an average price of $26.01, for a total value of $624,240.00. Following the transaction, the chief executive officer now owns 826,133 shares of the company’s stock, valued at approximately $21,487,719.33. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Ronald T. Maheu sold 3,423 shares of Virtusa Corp. stock in a transaction that occurred on Monday, September 12th. The stock was sold at an average price of $26.25, for a total transaction of $89,853.75. Following the completion of the transaction, the director now directly owns 40,533 shares in the company, valued at approximately $1,063,991.25. The disclosure for this sale can be found here. 9.92% of the stock is currently owned by insiders.
About Virtusa Corp.
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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