Virtusa Corporation (VRTU) Receives Buy Rating from SunTrust Banks, Inc.

SunTrust Banks, Inc. reiterated their buy rating on shares of Virtusa Corporation (NASDAQ:VRTU) in a report published on Friday morning. They currently have a $52.00 price objective on the information technology services provider’s stock.

Other equities research analysts also recently issued reports about the stock. Zacks Investment Research downgraded shares of Virtusa Corporation from a buy rating to a hold rating in a research note on Tuesday, August 15th. TheStreet raised shares of Virtusa Corporation from a c rating to a b- rating in a research note on Wednesday, November 8th. BidaskClub raised shares of Virtusa Corporation from a hold rating to a buy rating in a research note on Sunday, July 16th. Needham & Company LLC reaffirmed a buy rating and set a $43.00 target price (up from $38.00) on shares of Virtusa Corporation in a research note on Saturday, August 19th. Finally, Maxim Group reaffirmed a hold rating on shares of Virtusa Corporation in a research note on Tuesday, August 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $43.50.

Shares of Virtusa Corporation (VRTU) opened at $45.35 on Friday. The stock has a market cap of $1,304.41, a P/E ratio of 50.48, a PEG ratio of 2.23 and a beta of 1.66. Virtusa Corporation has a 52 week low of $18.94 and a 52 week high of $48.15. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.18.

Virtusa Corporation (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The business had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. Virtusa Corporation had a net margin of 2.54% and a return on equity of 4.86%. The business’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. sell-side analysts anticipate that Virtusa Corporation will post 1 earnings per share for the current fiscal year.

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In other Virtusa Corporation news, CEO Kris A. Canekeratne sold 789 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $36.09, for a total value of $28,475.01. Following the sale, the chief executive officer now directly owns 594,702 shares of the company’s stock, valued at approximately $21,462,795.18. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 22,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $37.96, for a total transaction of $835,120.00. Following the completion of the sale, the chief executive officer now directly owns 577,491 shares in the company, valued at $21,921,558.36. The disclosure for this sale can be found here. Over the last three months, insiders sold 70,326 shares of company stock worth $2,577,440. Insiders own 5.96% of the company’s stock.

Several large investors have recently made changes to their positions in the business. Aperio Group LLC increased its position in shares of Virtusa Corporation by 0.6% in the 2nd quarter. Aperio Group LLC now owns 9,836 shares of the information technology services provider’s stock valued at $289,000 after purchasing an additional 60 shares during the last quarter. Louisiana State Employees Retirement System increased its position in shares of Virtusa Corporation by 0.9% in the 2nd quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 100 shares during the last quarter. Arizona State Retirement System increased its position in shares of Virtusa Corporation by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 14,455 shares of the information technology services provider’s stock valued at $425,000 after purchasing an additional 100 shares during the last quarter. OppenheimerFunds Inc. increased its position in shares of Virtusa Corporation by 0.9% in the 1st quarter. OppenheimerFunds Inc. now owns 18,987 shares of the information technology services provider’s stock valued at $574,000 after purchasing an additional 176 shares during the last quarter. Finally, Municipal Employees Retirement System of Michigan increased its position in shares of Virtusa Corporation by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock valued at $191,000 after purchasing an additional 260 shares during the last quarter. 91.76% of the stock is currently owned by institutional investors.

About Virtusa Corporation

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.

Analyst Recommendations for Virtusa Corporation (NASDAQ:VRTU)

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