Virtusa Co. (NASDAQ:VRTU) – Equities research analysts at Wedbush dropped their Q4 2018 earnings per share (EPS) estimates for shares of Virtusa in a research report issued on Monday. Wedbush analyst M. Katri now expects that the information technology services provider will earn $0.37 per share for the quarter, down from their prior estimate of $0.39. Wedbush also issued estimates for Virtusa’s Q1 2019 earnings at $0.23 EPS, Q2 2019 earnings at $0.33 EPS, Q3 2019 earnings at $0.42 EPS and Q4 2019 earnings at $0.49 EPS.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.24 by $0.11. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The business had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. During the same period in the prior year, the firm earned $0.27 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year.

A number of other brokerages also recently issued reports on VRTU. Barrington Research increased their price target on shares of Virtusa to $52.00 and gave the stock an “outperform” rating in a report on Thursday, November 9th. Zacks Investment Research raised shares of Virtusa from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Needham & Company LLC raised their target price on shares of Virtusa to $55.00 and gave the company a “buy” rating in a research note on Friday, November 17th. TheStreet raised shares of Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks reaffirmed a “buy” rating and issued a $52.00 target price on shares of Virtusa in a research note on Friday, November 10th. Two equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $47.25.

Shares of Virtusa (VRTU) traded up $0.66 during trading on Wednesday, hitting $45.01. 899,386 shares of the stock were exchanged, compared to its average volume of 294,251. Virtusa has a 52-week low of $24.26 and a 52-week high of $48.71. The stock has a market capitalization of $1,324.97, a P/E ratio of 51.27, a price-to-earnings-growth ratio of 2.17 and a beta of 1.71. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.03.

Several institutional investors have recently modified their holdings of the company. Piedmont Investment Advisors LLC bought a new position in shares of Virtusa in the third quarter worth approximately $224,000. Granahan Investment Management Inc. MA grew its holdings in shares of Virtusa by 0.6% in the third quarter. Granahan Investment Management Inc. MA now owns 516,612 shares of the information technology services provider’s stock worth $19,518,000 after purchasing an additional 3,137 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of Virtusa by 4.9% in the third quarter. Dimensional Fund Advisors LP now owns 1,972,230 shares of the information technology services provider’s stock worth $74,511,000 after purchasing an additional 92,126 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Virtusa by 6.6% in the third quarter. Schwab Charles Investment Management Inc. now owns 126,163 shares of the information technology services provider’s stock worth $4,767,000 after purchasing an additional 7,812 shares during the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Virtusa by 51.2% in the third quarter. Wells Fargo & Company MN now owns 33,899 shares of the information technology services provider’s stock worth $1,281,000 after purchasing an additional 11,482 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $46.04, for a total transaction of $552,480.00. Following the transaction, the chief executive officer now directly owns 559,491 shares in the company, valued at $25,758,965.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 789 shares of the stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $36.09, for a total transaction of $28,475.01. Following the transaction, the chief executive officer now owns 594,702 shares in the company, valued at $21,462,795.18. The disclosure for this sale can be found here. Insiders have sold 89,580 shares of company stock worth $3,765,993 over the last quarter. Company insiders own 5.96% 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.

Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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