Virtusa (VRTU) Rating Lowered to Hold at ValuEngine

ValuEngine cut shares of Virtusa (NASDAQ:VRTU) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

VRTU has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Virtusa from a hold rating to a buy rating and set a $49.00 price target for the company in a research report on Saturday, November 17th. Barrington Research reiterated a buy rating and issued a $64.00 price target on shares of Virtusa in a research report on Friday, November 9th. BidaskClub upgraded shares of Virtusa from a hold rating to a buy rating in a research report on Tuesday, October 23rd. Wedbush upped their price target on shares of Virtusa from $60.00 to $70.00 and gave the stock an outperform rating in a research report on Friday, August 31st. Finally, SunTrust Banks upped their price target on shares of Virtusa to $56.00 and gave the stock a hold rating in a research report on Monday, August 13th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus target price of $61.00.

Shares of NASDAQ VRTU opened at $39.73 on Tuesday. The company has a debt-to-equity ratio of 0.88, a current ratio of 2.44 and a quick ratio of 2.44. The company has a market cap of $1.19 billion, a P/E ratio of 44.64, a price-to-earnings-growth ratio of 1.27 and a beta of 1.23. Virtusa has a 12-month low of $38.67 and a 12-month high of $58.60.

Virtusa (NASDAQ:VRTU) last announced its earnings results on Thursday, November 8th. The information technology services provider reported $0.54 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.54. The company had revenue of $305.50 million during the quarter, compared to analyst estimates of $306.37 million. Virtusa had a negative net margin of 1.04% and a positive return on equity of 9.03%. The firm’s quarterly revenue was up 23.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.35 earnings per share. Equities research analysts anticipate that Virtusa will post 1.57 EPS for the current year.

In other news, President Samir Dhir sold 4,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $49.55, for a total value of $198,200.00. Following the transaction, the president now owns 118,822 shares of the company’s stock, valued at $5,887,630.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.11% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the company. MML Investors Services LLC purchased a new position in shares of Virtusa in the third quarter worth $217,000. LPL Financial LLC purchased a new position in shares of Virtusa in the first quarter worth $219,000. Amalgamated Bank purchased a new position in shares of Virtusa in the second quarter worth $223,000. Cambridge Investment Research Advisors Inc. purchased a new position in shares of Virtusa in the second quarter worth $229,000. Finally, PEAK6 Investments L.P. purchased a new position in shares of Virtusa in the second quarter worth $240,000. 86.06% of the stock is currently owned by hedge funds and other institutional investors.

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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