Virtusa Co. (NASDAQ:VRTU) Receives $56.83 Consensus Target Price from Analysts

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.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Wednesday, May 15th. The information technology services provider reported $0.35 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.41 by ($0.06). Virtusa had a net margin of 1.29% and a return on equity of 11.81%. The business had revenue of $327.60 million for the quarter, compared to the consensus estimate of $330.91 million. During the same quarter last year, the business posted $0.55 EPS. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts forecast that Virtusa will post 2.01 earnings per share for the current year.

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.

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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