Virtusa (NASDAQ:VRTU) – Equities research analysts at SunTrust Banks issued their Q1 2020 earnings per share (EPS) estimates for shares of Virtusa in a report released on Wednesday, May 16th. SunTrust Banks analyst F. Atkins expects that the information technology services provider will post earnings of $0.33 per share for the quarter. SunTrust Banks currently has a “Hold” rating on the stock. SunTrust Banks also issued estimates for Virtusa’s Q2 2020 earnings at $0.46 EPS, Q3 2020 earnings at $0.56 EPS and Q4 2020 earnings at $0.60 EPS.
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Other research analysts have also issued research reports about the stock. Needham & Company LLC raised their price target on shares of Virtusa to $65.00 and gave the stock a “buy” rating in a report on Thursday, March 15th. Maxim Group raised their price target on shares of Virtusa to $64.00 and gave the stock a “buy” rating in a report on Wednesday, March 14th. Barrington Research set a $55.00 price target on shares of Virtusa and gave the stock a “buy” rating in a report on Tuesday, March 13th. Cantor Fitzgerald restated a “buy” rating and set a $60.00 price target (up previously from $52.00) on shares of Virtusa in a report on Tuesday, March 13th. Finally, ValuEngine upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Virtusa presently has a consensus rating of “Buy” and a consensus target price of $57.88.
Virtusa stock opened at $47.59 on Friday. The company has a debt-to-equity ratio of 0.66, a current ratio of 2.54 and a quick ratio of 4.24. Virtusa has a 52-week low of $27.54 and a 52-week high of $52.88. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 53.47, a PEG ratio of 1.59 and a beta of 1.29.
Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Tuesday, May 15th. The information technology services provider reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. Virtusa had a net margin of 0.12% and a return on equity of 5.94%. The firm had revenue of $281.30 million during the quarter, compared to analyst estimates of $282.44 million. During the same quarter last year, the business earned $0.43 EPS. The company’s revenue was up 24.5% compared to the same quarter last year.
In other news, insider Raj Rajgopal sold 41,108 shares of Virtusa stock in a transaction on Friday, March 16th. The shares were sold at an average price of $49.36, for a total value of $2,029,090.88. Following the completion of the sale, the insider now owns 86,661 shares in the company, valued at approximately $4,277,586.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 3,000 shares of Virtusa stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $47.60, for a total transaction of $142,800.00. Following the completion of the sale, the chief executive officer now owns 497,827 shares of the company’s stock, valued at approximately $23,696,565.20. The disclosure for this sale can be found here. Insiders sold a total of 126,002 shares of company stock valued at $6,258,319 in the last quarter. 5.96% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the company. Loomis Sayles & Co. L P purchased a new position in Virtusa during the 1st quarter worth $17,581,000. Castleark Management LLC bought a new position in shares of Virtusa in the fourth quarter worth approximately $6,608,000. BlackRock Inc. increased its position in shares of Virtusa by 4.4% in the first quarter. BlackRock Inc. now owns 3,557,764 shares of the information technology services provider’s stock worth $172,407,000 after purchasing an additional 149,520 shares during the last quarter. Millennium Management LLC increased its position in shares of Virtusa by 63.5% in the first quarter. Millennium Management LLC now owns 330,456 shares of the information technology services provider’s stock worth $16,014,000 after purchasing an additional 128,302 shares during the last quarter. Finally, WINTON GROUP Ltd bought a new position in shares of Virtusa in the fourth quarter worth approximately $5,547,000. Institutional investors own 86.25% of the company’s stock.
Virtusa Company Profile
Virtusa Corporation operates as an information technology (IT) services company. It offers business and IT consulting services comprising advisory/target operating model, business process re-engineering/BPM, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design ASD, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.