Barrington Research set a $64.00 target price on Virtusa (NASDAQ:VRTU) in a report issued on Friday morning. The brokerage currently has a buy rating on the information technology services provider’s stock.
Several other research analysts have also recently issued reports on VRTU. Cantor Fitzgerald restated a buy rating and issued a $62.00 target price on shares of Virtusa in a report on Friday. ValuEngine upgraded shares of Virtusa from a hold rating to a buy rating in a report on Friday, November 30th. BidaskClub cut shares of Virtusa from a hold rating to a sell rating in a report on Friday, November 16th. Zacks Investment Research upgraded shares of Virtusa from a hold rating to a buy rating and set a $49.00 price target on the stock in a report on Saturday, November 17th. Finally, SunTrust Banks upgraded shares of Virtusa from a hold rating to a buy rating and set a $52.00 price target on the stock in a report on Thursday, November 29th. One research analyst has rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Buy and an average target price of $61.29.
Shares of VRTU stock traded up $1.63 during trading hours on Friday, hitting $49.83. 231,222 shares of the company’s stock were exchanged, compared to its average volume of 96,664. The company has a market capitalization of $1.49 billion, a PE ratio of 55.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. Virtusa has a 12-month low of $37.80 and a 12-month high of $58.60. The company has a debt-to-equity ratio of 0.88, a quick ratio of 2.44 and a current ratio of 2.44.
Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Thursday, February 7th. The information technology services provider reported $0.61 EPS for the quarter, topping the consensus estimate of $0.42 by $0.19. Virtusa had a net margin of 0.89% and a return on equity of 11.22%. The firm had revenue of $314.68 million for the quarter, compared to the consensus estimate of $313.32 million. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts predict that Virtusa will post 1.54 EPS for the current year.
In other Virtusa news, EVP Thomas R. Holler sold 24,197 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $49.00, for a total transaction of $1,185,653.00. Following the completion of the transaction, the executive vice president now owns 58,184 shares of the company’s stock, valued at $2,851,016. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kris A. Canekeratne sold 1,480 shares of the firm’s stock in a transaction on Friday, December 28th. The shares were sold at an average price of $41.16, for a total value of $60,916.80. Following the transaction, the chief executive officer now directly owns 683,907 shares of the company’s stock, valued at approximately $28,149,612.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 75,677 shares of company stock worth $3,411,435. 5.11% of the stock is currently owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. Oppenheimer Asset Management Inc. purchased a new position in shares of Virtusa in the 4th quarter worth about $43,000. Pearl River Capital LLC purchased a new position in Virtusa in the 4th quarter worth about $64,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in Virtusa by 47.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock worth $79,000 after buying an additional 603 shares during the last quarter. MML Investors Services LLC purchased a new position in Virtusa in the 3rd quarter worth about $217,000. Finally, Piedmont Investment Advisors Inc. raised its position in Virtusa by 4.0% in the 4th quarter. Piedmont Investment Advisors Inc. now owns 6,565 shares of the information technology services provider’s stock worth $280,000 after buying an additional 250 shares during the last quarter. 85.46% of the stock is owned by institutional investors and hedge funds.
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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