Analysts Set Expectations for Virtusa Corporation’s Q2 2019 Earnings (VRTU)

Virtusa Corporation (NASDAQ:VRTU) – Equities research analysts at Wedbush issued their Q2 2019 earnings per share (EPS) estimates for shares of Virtusa Corporation in a report issued on Monday. Wedbush analyst M. Katri anticipates that the information technology services provider will post earnings of $0.33 per share for the quarter. Wedbush also issued estimates for Virtusa Corporation’s FY2019 earnings at $1.49 EPS.

Several other equities research analysts have also recently commented on the stock. Zacks Investment Research upgraded shares of Virtusa Corporation from a “hold” rating to a “buy” rating and set a $36.00 price target on the stock in a research report on Wednesday, July 19th. BidaskClub cut shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a research report on Saturday, July 8th. Barrington Research set a $35.00 price target on shares of Virtusa Corporation and gave the stock a “buy” rating in a research report on Thursday, May 25th. Cowen and Company reiterated a “buy” rating and issued a $36.00 price target on shares of Virtusa Corporation in a research report on Friday, July 28th. Finally, ValuEngine upgraded shares of Virtusa Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $37.00.

COPYRIGHT VIOLATION NOTICE: “Analysts Set Expectations for Virtusa Corporation’s Q2 2019 Earnings (VRTU)” was published by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this report on another domain, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The correct version of this report can be read at https://www.chaffeybreeze.com/2017/09/20/analysts-set-expectations-for-virtusa-corporations-q2-2019-earnings-vrtu.html.

Shares of Virtusa Corporation (VRTU) traded up 1.23% during midday trading on Wednesday, reaching $36.09. 38,757 shares of the company were exchanged. The company has a market capitalization of $1.06 billion, a PE ratio of 52.23 and a beta of 1.67. Virtusa Corporation has a 52-week low of $18.03 and a 52-week high of $37.66. The firm’s 50 day moving average is $35.27 and its 200-day moving average is $31.48.

Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 EPS for the quarter, beating the Zacks’ consensus estimate of $0.16 by $0.09. The firm had revenue of $227.30 million for the quarter, compared to analysts’ expectations of $224.46 million. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The firm’s revenue was up 10.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.18 EPS.

Hedge funds and other institutional investors have recently bought and sold shares of the business. US Bancorp DE raised its holdings in Virtusa Corporation by 10.3% during the 2nd quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after buying an additional 327 shares during the period. SG Americas Securities LLC acquired a new stake in Virtusa Corporation during the 2nd quarter worth about $120,000. State of Alaska Department of Revenue raised its holdings in Virtusa Corporation by 79.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock worth $160,000 after buying an additional 2,430 shares during the period. BNP Paribas Arbitrage SA raised its holdings in Virtusa Corporation by 9.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,166 shares of the information technology services provider’s stock worth $186,000 after buying an additional 522 shares during the period. Finally, Municipal Employees Retirement System of Michigan raised its holdings in Virtusa Corporation by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after buying an additional 260 shares during the period. Hedge funds and other institutional investors own 92.06% of the company’s stock.

In other Virtusa Corporation news, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 26th. The stock was sold at an average price of $33.63, for a total transaction of $403,560.00. Following the sale, the chief executive officer now owns 587,920 shares in the company, valued at approximately $19,771,749.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Raj Rajgopal sold 27,526 shares of the business’s stock in a transaction dated Friday, August 11th. The stock was sold at an average price of $34.76, for a total value of $956,803.76. Following the sale, the insider now owns 122,708 shares in the company, valued at approximately $4,265,330.08. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 83,827 shares of company stock worth $2,953,885. Corporate insiders own 5.96% of the company’s stock.

Virtusa Corporation 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.

Earnings History and Estimates for Virtusa Corporation (NASDAQ:VRTU)

Receive News & Ratings for Virtusa Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply