Virtusa Co. (NASDAQ:VRTU) Receives Average Rating of “Buy” from Analysts

Shares of Virtusa Co. (NASDAQ:VRTU) have been given an average rating of “Buy” by the nine analysts that are currently covering the stock, Marketbeat.com reports. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $56.83.

Several research analysts recently issued reports on the company. Zacks Investment Research upgraded Virtusa from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a research report on Wednesday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating and issued a $56.00 price target (down from $62.00) on shares of Virtusa in a report on Thursday, May 16th. ValuEngine upgraded Virtusa from a “hold” rating to a “buy” rating in a report on Thursday. Wedbush reiterated an “outperform” rating and issued a $60.00 price target (down from $70.00) on shares of Virtusa in a report on Thursday, May 16th. Finally, Barrington Research reiterated a “buy” rating and issued a $64.00 price target on shares of Virtusa in a report on Friday, May 10th.

In other news, Director Joseph Doody acquired 5,000 shares of the company’s stock in a transaction dated Friday, May 31st. The stock was acquired at an average cost of $42.50 per share, for a total transaction of $212,500.00. Following the acquisition, the director now directly owns 14,684 shares in the company, valued at approximately $624,070. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kris A. Canekeratne sold 7,500 shares of the company’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $44.31, for a total value of $332,325.00. Following the sale, the chief executive officer now owns 723,926 shares of the company’s stock, valued at $32,077,161.06. The disclosure for this sale can be found here. Insiders own 4.73% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the company. Macquarie Group Ltd. boosted its position in Virtusa by 50.0% during the 4th quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 200 shares during the period. Financial Gravity Wealth Inc. purchased a new stake in Virtusa during the 2nd quarter worth $56,000. Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new stake in Virtusa during the 1st quarter worth $90,000. Amundi Pioneer Asset Management Inc. purchased a new stake in Virtusa during the 4th quarter worth $128,000. Finally, Sawgrass Asset Management LLC purchased a new stake in Virtusa during the 1st quarter worth $257,000. Institutional investors and hedge funds own 78.82% of the company’s stock.

VRTU traded down $1.93 during trading on Wednesday, reaching $42.06. The company’s stock had a trading volume of 1,700 shares, compared to its average volume of 120,097. The firm has a fifty day moving average of $44.28. The company has a market capitalization of $1.46 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 1.09 and a beta of 1.16. The company has a debt-to-equity ratio of 0.90, a current ratio of 2.71 and a quick ratio of 2.71. Virtusa has a 52-week low of $37.80 and a 52-week high of $58.60.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings results on Wednesday, May 15th. The information technology services provider reported $0.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.06). The firm had revenue of $327.60 million for the quarter, compared to analysts’ expectations of $330.91 million. Virtusa had a return on equity of 11.81% and a net margin of 1.29%. Virtusa’s revenue was up 16.5% compared to the same quarter last year. During the same period last year, the firm earned $0.55 EPS. As a group, research analysts anticipate that Virtusa will post 2.01 EPS for the current year.

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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Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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