Virtusa Co. (NASDAQ:VRTU) has been assigned a consensus rating of “Buy” from the nine analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among brokerages that have issued a report on the stock in the last year is $63.20.

Several equities research analysts have recently weighed in on the company. BidaskClub raised Virtusa from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Zacks Investment Research raised Virtusa from a “sell” rating to a “hold” rating in a research report on Thursday, February 14th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $62.00 target price on shares of Virtusa in a research report on Friday, February 8th. Barrington Research set a $64.00 target price on Virtusa and gave the stock a “buy” rating in a research report on Friday, February 8th. Finally, ValuEngine raised Virtusa from a “hold” rating to a “buy” rating in a research report on Friday, November 30th.

Shares of NASDAQ VRTU opened at $53.19 on Thursday. Virtusa has a 1-year low of $37.80 and a 1-year high of $58.60. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.82. The stock has a market capitalization of $1.58 billion, a PE ratio of 59.76, a P/E/G ratio of 1.62 and a beta of 1.05.

Virtusa (NASDAQ:VRTU) last issued its earnings results on Thursday, February 7th. The information technology services provider reported $0.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.42 by $0.19. Virtusa had a return on equity of 11.39% and a net margin of 0.89%. The company had revenue of $314.68 million during the quarter, compared to the consensus estimate of $313.32 million. During the same quarter in the prior year, the business earned $0.47 earnings per share. The company’s revenue was up 19.3% compared to the same quarter last year. On average, research analysts anticipate that Virtusa will post 1.61 EPS for the current fiscal year.

In related news, CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction dated Monday, December 31st. The stock was sold at an average price of $41.60, for a total value of $499,200.00. Following the completion of the transaction, the chief executive officer now owns 683,907 shares of the company’s stock, valued at $28,450,531.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Ranjan Kalia sold 900 shares of the stock in a transaction dated Wednesday, February 20th. The shares were sold at an average price of $51.05, for a total value of $45,945.00. Following the completion of the transaction, the chief financial officer now directly owns 149,128 shares of the company’s stock, valued at approximately $7,612,984.40. The disclosure for this sale can be found here. Insiders sold 230,944 shares of company stock valued at $11,416,984 in the last ninety days. Company insiders own 5.11% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VRTU. GW&K Investment Management LLC purchased a new position in Virtusa in the fourth quarter valued at about $24,231,000. Norges Bank purchased a new position in Virtusa in the fourth quarter valued at about $15,553,000. FMR LLC boosted its holdings in Virtusa by 12.2% in the third quarter. FMR LLC now owns 2,868,364 shares of the information technology services provider’s stock valued at $154,060,000 after purchasing an additional 310,939 shares during the last quarter. Hillcrest Asset Management LLC purchased a new position in Virtusa in the fourth quarter valued at about $8,879,000. Finally, Portolan Capital Management LLC boosted its holdings in Virtusa by 244.4% in the fourth quarter. Portolan Capital Management LLC now owns 241,021 shares of the information technology services provider’s stock valued at $10,265,000 after purchasing an additional 171,034 shares during the last quarter. 88.58% of the stock is 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.

See Also: Trading signals using Bollinger bands

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

Receive News & Ratings for Virtusa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa and related companies with MarketBeat.com's FREE daily email newsletter.