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

Shares of Virtusa Co. (NASDAQ:VRTU) have been assigned a consensus recommendation of “Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, five have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $56.83.

Several brokerages recently weighed in on VRTU. Wedbush reaffirmed a “hold” rating and issued a $1.00 target price on shares of Regulus Therapeutics in a report on Thursday, May 16th. Needham & Company LLC reaffirmed a “strong-buy” rating and issued a $60.00 target price on shares of Virtusa in a report on Thursday, May 16th. BidaskClub downgraded shares of Zogenix from a “hold” rating to a “sell” rating in a report on Tuesday, April 16th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Prothena in a report on Thursday, May 16th. Finally, ValuEngine raised shares of Zynerba Pharmaceuticals from a “hold” rating to a “buy” rating in a report on Friday, May 17th.

Shares of VRTU stock traded up $1.29 during mid-day trading on Friday, reaching $44.36. 149,112 shares of the company’s stock traded hands, compared to its average volume of 136,598. Virtusa has a 12 month low of $37.80 and a 12 month high of $58.60. The firm’s 50 day moving average price is $43.61. The company has a quick ratio of 2.71, a current ratio of 2.71 and a debt-to-equity ratio of 0.90. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of 30.38, a PEG ratio of 1.07 and a beta of 1.20.

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

In other Virtusa news, CEO Kris A. Canekeratne sold 7,500 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $54.97, for a total transaction of $412,275.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Samir Dhir sold 4,000 shares of the stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $54.99, for a total transaction of $219,960.00. The disclosure for this sale can be found here. Insiders have sold a total of 38,500 shares of company stock valued at $1,956,585 in the last three months. Insiders own 5.11% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund raised its position in shares of Virtusa by 1.8% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 10,659 shares of the information technology services provider’s stock valued at $570,000 after buying an additional 193 shares in the last quarter. Macquarie Group Ltd. raised its position in shares of Virtusa by 50.0% during the 4th quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock valued at $26,000 after buying an additional 200 shares in the last quarter. THB Asset Management raised its position in shares of Virtusa by 0.9% during the 1st quarter. THB Asset Management now owns 28,960 shares of the information technology services provider’s stock valued at $1,547,000 after buying an additional 246 shares in the last quarter. Campbell Newman Asset Management Inc. raised its position in shares of Virtusa by 2.6% during the 1st quarter. Campbell Newman Asset Management Inc. now owns 10,078 shares of the information technology services provider’s stock valued at $539,000 after buying an additional 251 shares in the last quarter. Finally, Mason Street Advisors LLC raised its position in shares of Virtusa by 3.5% during the 1st quarter. Mason Street Advisors LLC now owns 8,841 shares of the information technology services provider’s stock valued at $473,000 after buying an additional 295 shares in the last quarter. 87.73% of the stock is owned by institutional investors and hedge funds.

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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