Virtusa (VRTU) PT Set at $59.00 by Maxim Group

Maxim Group set a $59.00 target price on Virtusa (NASDAQ:VRTU) in a research report released on Thursday morning, Marketbeat Ratings reports. The brokerage currently has a buy rating on the information technology services provider’s stock.

Several other analysts have also recently weighed in on the company. Zacks Investment Research raised Virtusa from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Thursday, January 25th. BidaskClub raised Virtusa from a hold rating to a buy rating in a report on Saturday, January 20th. Cowen reissued a buy rating and set a $55.00 price objective on shares of Virtusa in a report on Thursday, December 14th. Needham & Company LLC boosted their price objective on Virtusa to $55.00 and gave the stock a buy rating in a report on Friday, November 17th. Finally, SunTrust Banks reissued a buy rating and set a $52.00 price objective on shares of Virtusa in a report on Friday, November 10th. One analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. Virtusa presently has a consensus rating of Buy and an average price target of $50.63.

Shares of Virtusa (NASDAQ:VRTU) traded down $0.60 during trading hours on Thursday, reaching $45.73. The company’s stock had a trading volume of 200,997 shares, compared to its average volume of 194,971. The company has a market cap of $1,234.52, a PE ratio of 65.25, a P/E/G ratio of 2.02 and a beta of 1.48. Virtusa has a 12-month low of $25.72 and a 12-month high of $48.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.03.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings data on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. The firm had revenue of $263.80 million during the quarter, compared to analysts’ expectations of $259.81 million. Virtusa had a return on equity of 4.86% and a net margin of 2.54%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 EPS. sell-side analysts expect that Virtusa will post 1.04 EPS for the current fiscal year.

In other news, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction dated Friday, January 19th. The stock was sold at an average price of $47.70, for a total value of $572,400.00. Following the completion of the sale, the chief executive officer now directly owns 541,491 shares of the company’s stock, valued at approximately $25,829,120.70. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 10,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $45.48, for a total value of $454,800.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 65,555 shares of company stock valued at $3,013,598. 5.96% of the stock is currently owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of VRTU. Schwab Charles Investment Management Inc. grew its position in shares of Virtusa by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 118,351 shares of the information technology services provider’s stock valued at $3,480,000 after purchasing an additional 1,324 shares during the period. Teachers Advisors LLC grew its position in shares of Virtusa by 4.6% in the 2nd quarter. Teachers Advisors LLC now owns 49,641 shares of the information technology services provider’s stock valued at $1,459,000 after purchasing an additional 2,171 shares during the period. Ameriprise Financial Inc. grew its position in shares of Virtusa by 0.5% in the 2nd quarter. Ameriprise Financial Inc. now owns 146,502 shares of the information technology services provider’s stock valued at $4,307,000 after purchasing an additional 705 shares during the period. Northern Trust Corp grew its position in shares of Virtusa by 48.6% in the 2nd quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock valued at $17,309,000 after purchasing an additional 192,475 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Virtusa by 6.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock valued at $60,964,000 after purchasing an additional 119,133 shares during the period. Institutional investors and hedge funds own 86.54% of the company’s stock.

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About Virtusa

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 (NASDAQ:VRTU)

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