Virtusa (NASDAQ:VRTU) had its price target increased by Barrington Research from $52.00 to $55.00 in a research note issued to investors on Friday, Marketbeat.com reports. They currently have an outperform rating on the information technology services provider’s stock.

A number of other equities analysts also recently commented on VRTU. Cowen restated a buy rating and issued a $37.00 target price on shares of Virtusa in a research note on Thursday, October 12th. Cantor Fitzgerald restated a buy rating and issued a $37.00 target price on shares of Virtusa in a research note on Sunday, November 5th. Maxim Group upgraded Virtusa from a hold rating to a buy rating and set a $51.00 target price for the company in a research note on Wednesday, November 8th. TheStreet upgraded Virtusa from a c rating to a b- rating in a research note on Wednesday, November 8th. Finally, SunTrust Banks restated a buy rating and issued a $52.00 target price on shares of Virtusa in a research note on Friday, November 10th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Virtusa currently has an average rating of Buy and a consensus price target of $50.63.

Shares of Virtusa (NASDAQ VRTU) traded up $0.41 during mid-day trading on Friday, reaching $46.74. The company’s stock had a trading volume of 399,383 shares, compared to its average volume of 199,455. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.03 and a current ratio of 4.24. Virtusa has a 12 month low of $25.72 and a 12 month high of $48.71. The firm has a market capitalization of $1,363.47, a P/E ratio of 259.67, a P/E/G ratio of 2.23 and a beta of 1.48.

Virtusa (NASDAQ:VRTU) last issued its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The company had revenue of $263.80 million during the quarter, compared to the consensus estimate of $259.81 million. During the same period in the previous year, the firm posted $0.37 earnings per share. Virtusa’s quarterly revenue was up 21.5% compared to the same quarter last year. analysts anticipate that Virtusa will post 1.04 earnings per share for the current fiscal year.

In other news, CEO Kris A. Canekeratne sold 10,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $45.48, for a total transaction of $454,800.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Kris A. Canekeratne sold 12,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $46.04, for a total value of $552,480.00. Following the transaction, the chief executive officer now owns 559,491 shares of the company’s stock, valued at $25,758,965.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 65,555 shares of company stock valued at $3,013,598. Insiders own 5.96% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of VRTU. Dimensional Fund Advisors LP boosted its position in shares of Virtusa by 24.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,880,104 shares of the information technology services provider’s stock worth $55,276,000 after buying an additional 374,317 shares during the period. Peregrine Capital Management LLC bought a new stake in Virtusa during the third quarter worth approximately $9,115,000. Northern Trust Corp raised its holdings in Virtusa by 48.6% during the second quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock worth $17,309,000 after purchasing an additional 192,475 shares in the last quarter. Mesirow Financial Investment Management Equity Management raised its holdings in Virtusa by 80.0% during the third quarter. Mesirow Financial Investment Management Equity Management now owns 422,359 shares of the information technology services provider’s stock worth $15,957,000 after purchasing an additional 187,675 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in Virtusa by 6.1% during the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock worth $60,964,000 after purchasing an additional 119,133 shares in the last quarter. Institutional investors and hedge funds own 86.54% 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.

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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