Virtusa (NASDAQ:VRTU) announced its earnings results on Thursday. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.02, Bloomberg Earnings reports. The company had revenue of $263.80 million during the quarter, compared to analyst estimates of $259.81 million. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same period in the previous year, the business posted $0.37 earnings per share. Virtusa updated its Q4 guidance to $0.51-0.57 EPS.

Virtusa (NASDAQ:VRTU) opened at $46.33 on Friday. The firm has a market cap of $1,234.52, a P/E ratio of 47.77, a price-to-earnings-growth ratio of 2.02 and a beta of 1.48. Virtusa has a 12-month low of $25.72 and a 12-month high of $48.71. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.03.

Several brokerages recently issued reports on VRTU. Maxim Group set a $59.00 target price on shares of Virtusa and gave the company a “buy” rating in a research report on Thursday. Zacks Investment Research upgraded shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, January 25th. BidaskClub lowered shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. TheStreet upgraded shares of Virtusa from a “c” rating to a “b-” rating in a research report on Wednesday, November 8th. Finally, SunTrust Banks reiterated a “buy” rating and issued a $52.00 price target on shares of Virtusa in a research report on Friday, November 10th. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $50.25.

In other news, CEO Kris A. Canekeratne sold 10,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $45.48, for a total value of $454,800.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction on Friday, January 19th. The stock was sold at an average price of $47.70, for a total transaction of $572,400.00. Following the completion of the transaction, the chief executive officer now directly owns 541,491 shares in the company, valued at approximately $25,829,120.70. The disclosure for this sale can be found here. Over the last quarter, insiders sold 65,555 shares of company stock valued at $3,013,598. Company insiders own 5.96% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in VRTU. Victory Capital Management Inc. purchased a new position in shares of Virtusa in the third quarter worth $130,000. LS Investment Advisors LLC lifted its holdings in shares of Virtusa by 359.5% in the fourth quarter. LS Investment Advisors LLC now owns 4,411 shares of the information technology services provider’s stock worth $194,000 after buying an additional 3,451 shares in the last quarter. Piedmont Investment Advisors LLC purchased a new position in shares of Virtusa in the third quarter worth $224,000. Trexquant Investment LP purchased a new position in shares of Virtusa in the third quarter worth $247,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Virtusa in the third quarter worth $379,000. 86.54% of the stock is currently owned by hedge funds and other institutional investors.

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Virtusa Company Profile

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 for Virtusa (NASDAQ:VRTU)

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