Barrington Research Analysts Give Virtusa (VRTU) a $64.00 Price Target

Barrington Research set a $64.00 price objective on Virtusa (NASDAQ:VRTU) in a research note issued to investors on Friday. The firm currently has a buy rating on the information technology services provider’s stock.

VRTU has been the subject of a number of other reports. Cantor Fitzgerald upped their target price on Virtusa from $60.00 to $62.00 and gave the company an overweight rating in a research note on Friday, August 10th. Needham & Company LLC increased their price objective on Virtusa from $65.00 to $68.00 and gave the stock a strong-buy rating in a research note on Thursday, August 9th. Wedbush increased their price objective on Virtusa from $60.00 to $70.00 and gave the stock an outperform rating in a research note on Friday, August 31st. SunTrust Banks increased their price objective on Virtusa to $56.00 and gave the stock a hold rating in a research note on Monday, August 13th. Finally, BidaskClub upgraded Virtusa from a hold rating to a buy rating in a research note on Friday, July 13th. Four investment analysts have rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has an average rating of Buy and an average target price of $62.00.

Shares of NASDAQ VRTU opened at $53.20 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.50 and a quick ratio of 2.50. The firm has a market capitalization of $1.60 billion, a P/E ratio of 59.78, a PEG ratio of 1.69 and a beta of 1.25. Virtusa has a one year low of $34.79 and a one year high of $58.60.

Virtusa (NASDAQ:VRTU) last issued its earnings results on Wednesday, August 8th. The information technology services provider reported $0.50 EPS for the quarter, beating analysts’ consensus estimates of $0.47 by $0.03. The business had revenue of $300.00 million during the quarter, compared to analyst estimates of $298.00 million. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. Virtusa’s revenue was up 32.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.25 earnings per share. Equities analysts anticipate that Virtusa will post 1.59 EPS for the current year.

In other news, President Samir Dhir sold 4,000 shares of the firm’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $52.89, for a total value of $211,560.00. Following the completion of the sale, the president now directly owns 129,045 shares in the company, valued at $6,825,190.05. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Kris A. Canekeratne sold 12,000 shares of the firm’s stock in a transaction on Thursday, July 12th. The shares were sold at an average price of $53.48, for a total value of $641,760.00. Following the completion of the sale, the chief executive officer now owns 728,691 shares of the company’s stock, valued at $38,970,394.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,000 shares of company stock valued at $1,012,830. 5.11% of the stock is currently owned by corporate insiders.

Several large investors have recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in Virtusa in the first quarter valued at about $107,000. LPL Financial LLC bought a new position in Virtusa in the first quarter valued at about $219,000. Amalgamated Bank bought a new position in Virtusa in the second quarter valued at about $223,000. Cambridge Investment Research Advisors Inc. bought a new position in Virtusa in the second quarter valued at about $229,000. Finally, Xact Kapitalforvaltning AB bought a new position in Virtusa in the first quarter valued at about $235,000. Institutional investors own 86.79% of the company’s stock.

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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