Brokerages Set Virtusa Corporation (VRTU) Price Target at $38.17

Shares of Virtusa Corporation (NASDAQ:VRTU) have received a consensus recommendation of “Buy” from the ten ratings firms that are covering the firm, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $38.17.

Several brokerages have issued reports on VRTU. Cowen and Company reissued a “buy” rating and issued a $36.00 price target on shares of Virtusa Corporation in a report on Friday, July 28th. Zacks Investment Research lowered shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. BidaskClub raised shares of Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 price target (up previously from $38.00) on shares of Virtusa Corporation in a report on Saturday, August 19th. Finally, Cantor Fitzgerald reaffirmed a “buy” rating and issued a $37.00 target price on shares of Virtusa Corporation in a report on Friday, August 11th.

Virtusa Corporation (VRTU) traded up 0.85% on Thursday, hitting $38.15. 137,018 shares of the stock traded hands. The firm has a market cap of $1.12 billion, a price-to-earnings ratio of 55.21 and a beta of 1.67. The stock has a 50-day moving average of $37.05 and a 200-day moving average of $32.58. Virtusa Corporation has a 12-month low of $18.03 and a 12-month high of $39.07.

Virtusa Corporation (NASDAQ:VRTU) last announced its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The firm had revenue of $227.30 million for the quarter, compared to analyst estimates of $224.46 million. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The business’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.18 EPS. Analysts forecast that Virtusa Corporation will post $1.53 earnings per share for the current year.

In other news, CEO Kris A. Canekeratne sold 789 shares of the company’s stock in a transaction dated 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 owns 594,702 shares of the company’s stock, valued at approximately $21,462,795.18. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Kris A. Canekeratne sold 22,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was 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 approximately $21,921,558.36. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,852 shares of company stock worth $4,379,223. 5.96% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of VRTU. US Bancorp DE grew its holdings in Virtusa Corporation by 10.3% during the 2nd quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after acquiring an additional 327 shares during the last quarter. SG Americas Securities LLC bought a new stake in Virtusa Corporation during the 2nd quarter worth about $120,000. State of Alaska Department of Revenue grew its holdings in Virtusa Corporation by 79.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock worth $160,000 after acquiring an additional 2,430 shares during the last quarter. Municipal Employees Retirement System of Michigan grew its holdings in Virtusa Corporation by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after acquiring an additional 260 shares during the last quarter. Finally, Mason Street Advisors LLC grew its holdings in Virtusa Corporation by 7.0% during the 1st quarter. Mason Street Advisors LLC now owns 6,445 shares of the information technology services provider’s stock worth $195,000 after acquiring an additional 422 shares during the last quarter. 91.84% of the stock is currently owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Brokerages Set Virtusa Corporation (VRTU) Price Target at $38.17” was published by StockNewsTimes and is the property of of StockNewsTimes. If you are reading this news story on another publication, it was illegally copied and republished in violation of United States & international copyright law. The legal version of this news story can be viewed at https://stocknewstimes.com/2017/10/22/brokerages-set-virtusa-corporation-vrtu-price-target-at-38-17.html.

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)

Receive News & Ratings for Virtusa Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply