Virtusa (NASDAQ:VRTU) had its target price hoisted by Needham & Company LLC from $65.00 to $68.00 in a research report report published on Thursday, Marketbeat Ratings reports. They currently have a strong-buy rating on the information technology services provider’s stock.

A number of other research firms have also issued reports on VRTU. BidaskClub raised Virtusa from a hold rating to a buy rating in a report on Friday, July 13th. Zacks Investment Research raised Virtusa from a hold rating to a buy rating and set a $57.00 target price on the stock in a report on Sunday, July 15th. Barrington Research reaffirmed a buy rating and set a $55.00 target price on shares of Virtusa in a report on Thursday, August 2nd. ValuEngine raised Virtusa from a buy rating to a strong-buy rating in a report on Wednesday, May 2nd. Finally, Maxim Group reaffirmed a hold rating on shares of Virtusa in a report on Monday, April 23rd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The company has an average rating of Buy and an average price target of $60.25.

Virtusa opened at $52.64 on Thursday, Marketbeat Ratings reports. The stock has a market cap of $1.57 billion, a P/E ratio of 59.15, a PEG ratio of 1.70 and a beta of 1.19. Virtusa has a 52-week low of $33.50 and a 52-week high of $55.68. The company has a current ratio of 2.50, a quick ratio of 2.53 and a debt-to-equity ratio of 0.68.

Virtusa (NASDAQ:VRTU) last released its earnings results on Wednesday, August 8th. The information technology services provider reported $0.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.47 by $0.03. The firm had revenue of $300.00 million for the quarter, compared to analyst estimates of $298.00 million. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. Virtusa’s revenue was up 32.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.25 earnings per share. sell-side analysts anticipate that Virtusa will post 1.55 earnings per share for the current fiscal year.

In related news, President Samir Dhir sold 4,000 shares of Virtusa stock in a transaction dated Monday, June 11th. The stock was sold at an average price of $52.34, for a total value of $209,360.00. Following the transaction, the president now owns 133,045 shares of the company’s stock, valued at approximately $6,963,575.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Roger Keith Modder sold 5,706 shares of Virtusa stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $47.66, for a total value of $271,947.96. Following the completion of the transaction, the chief operating officer now directly owns 176,239 shares in the company, valued at approximately $8,399,550.74. The disclosure for this sale can be found here. Insiders sold a total of 80,554 shares of company stock worth $4,048,327 in the last three months. 5.11% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VRTU. Wells Fargo & Company MN increased its stake in Virtusa by 26.1% in the 4th quarter. Wells Fargo & Company MN now owns 42,736 shares of the information technology services provider’s stock worth $1,884,000 after purchasing an additional 8,837 shares in the last quarter. Deutsche Bank AG boosted its position in Virtusa by 117.2% during the 4th quarter. Deutsche Bank AG now owns 60,265 shares of the information technology services provider’s stock worth $2,655,000 after acquiring an additional 32,517 shares during the period. Guggenheim Capital LLC boosted its position in Virtusa by 30.4% during the 4th quarter. Guggenheim Capital LLC now owns 59,911 shares of the information technology services provider’s stock worth $2,639,000 after acquiring an additional 13,980 shares during the period. Two Sigma Advisers LP acquired a new stake in Virtusa during the 4th quarter worth about $239,000. Finally, Teachers Advisors LLC boosted its position in Virtusa by 2.6% during the 4th quarter. Teachers Advisors LLC now owns 49,935 shares of the information technology services provider’s stock worth $2,201,000 after acquiring an additional 1,263 shares during the period. 82.71% of the stock is currently owned by hedge funds and other institutional investors.

Virtusa Company Profile

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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Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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