Virtusa Co. (NASDAQ:VRTU) has been assigned an average rating of “Buy” from the nine ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among brokerages that have issued ratings on the stock in the last year is $56.83.
Several research firms have recently weighed in on VRTU. TheStreet lowered shares of Virtusa from a “b-” rating to a “c+” rating in a research report on Wednesday, May 29th. Zacks Investment Research upgraded shares of 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. ValuEngine lowered shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Friday, May 17th. Needham & Company LLC restated a “strong-buy” rating and set a $60.00 price objective on shares of Virtusa in a research report on Thursday, May 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $60.00 target price (down from $70.00) on shares of Virtusa in a report on Thursday, May 16th.
Shares of NASDAQ:VRTU traded down $1.06 during trading hours on Tuesday, hitting $43.16. 105,516 shares of the company’s stock traded hands, compared to its average volume of 162,333. Virtusa has a 52 week low of $37.80 and a 52 week high of $58.60. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.90. The firm has a market cap of $1.30 billion, a price-to-earnings ratio of 29.56, a price-to-earnings-growth ratio of 1.07 and a beta of 1.23.
In other news, Director Joseph Doody bought 5,000 shares of the firm’s stock in a transaction on Friday, May 31st. The stock was bought at an average cost of $42.50 per share, for a total transaction of $212,500.00. Following the completion of 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 link. Also, CEO Kris A. Canekeratne sold 12,000 shares of the firm’s stock in a transaction dated Thursday, March 28th. The stock was sold at an average price of $52.91, for a total transaction of $634,920.00. Following the completion of the transaction, the chief executive officer now owns 609,117 shares of the company’s stock, valued at $32,228,380.47. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,000 shares of company stock valued at $3,477,000. Corporate insiders own 5.11% of the company’s stock.
Several hedge funds have recently bought and sold shares of VRTU. GW&K Investment Management LLC acquired a new stake in shares of Virtusa during the fourth quarter worth approximately $24,231,000. Norges Bank acquired a new stake in shares of Virtusa during the fourth quarter worth approximately $15,553,000. Hillcrest Asset Management LLC acquired a new stake in shares of Virtusa during the fourth quarter worth approximately $8,879,000. Portolan Capital Management LLC boosted its holdings in shares of Virtusa by 244.4% during the fourth quarter. Portolan Capital Management LLC now owns 241,021 shares of the information technology services provider’s stock worth $10,265,000 after purchasing an additional 171,034 shares during the period. Finally, Monarch Partners Asset Management LLC acquired a new stake in shares of Virtusa during the fourth quarter worth approximately $6,792,000. Institutional investors and hedge funds own 87.73% of the company’s stock.
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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