Virtusa (NASDAQ:VRTU) issued an update on its FY20 earnings guidance on Thursday morning. The company provided EPS guidance of $2.51-$2.65 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.53. The company issued revenue guidance of $1.33-$1.35 billion, compared to the consensus revenue estimate of $1.34 billion.Virtusa also updated its Q3 guidance to $0.73-$0.79 EPS.
A number of brokerages have weighed in on VRTU. ValuEngine lowered shares of Virtusa from a buy rating to a hold rating in a research report on Saturday, August 10th. BidaskClub upgraded shares of Virtusa from a sell rating to a hold rating in a research report on Tuesday. Needham & Company LLC lowered shares of Virtusa from a strong-buy rating to a buy rating and cut their target price for the stock from $50.00 to $48.00 in a research report on Tuesday, September 10th. Barrington Research reiterated a buy rating and set a $60.00 target price on shares of Virtusa in a research report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. cut their target price on shares of Virtusa from $49.00 to $48.00 and set an overweight rating for the company in a research report on Monday, October 7th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of Buy and an average target price of $53.29.
NASDAQ:VRTU traded up $2.93 on Friday, reaching $42.71. 488,100 shares of the company’s stock were exchanged, compared to its average volume of 171,613. The company has a debt-to-equity ratio of 0.99, a current ratio of 2.58 and a quick ratio of 2.58. The firm has a market cap of $1.20 billion, a price-to-earnings ratio of 29.25, a P/E/G ratio of 1.14 and a beta of 1.19. Virtusa has a 52 week low of $31.99 and a 52 week high of $57.00. The stock has a fifty day simple moving average of $36.53 and a 200-day simple moving average of $41.78.
In other news, insider Samir Dhir sold 4,000 shares of the firm’s stock in a transaction that occurred on Friday, August 30th. The shares were sold at an average price of $35.91, for a total value of $143,640.00. Following the completion of the transaction, the insider now directly owns 157,780 shares in the company, valued at $5,665,879.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kris A. Canekeratne sold 7,500 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $35.50, for a total transaction of $266,250.00. Following the completion of the transaction, the chief executive officer now owns 706,748 shares of the company’s stock, valued at $25,089,554. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock valued at $1,108,640 over the last 90 days. 4.73% of the stock is owned by company insiders.
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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