Cowen reissued their buy rating on shares of Virtusa (NASDAQ:VRTU) in a research report sent to investors on Thursday morning. They currently have a $55.00 price target on the information technology services provider’s stock.

Other equities analysts have also recently issued reports about the stock. TheStreet upgraded shares of Virtusa from a c rating to a b- rating in a research report on Wednesday, November 8th. Needham & Company LLC restated a buy rating and issued a $43.00 target price (up from $38.00) on shares of Virtusa in a research report on Saturday, August 19th. Maxim Group upgraded shares of Virtusa from a hold rating to a buy rating and set a $51.00 target price for the company in a research report on Wednesday, November 8th. Cantor Fitzgerald restated a buy rating and issued a $37.00 target price on shares of Virtusa in a research report on Sunday, November 5th. Finally, SunTrust Banks reiterated a buy rating and set a $52.00 price objective on shares of Virtusa in a research report on Friday, November 10th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of Buy and an average price target of $47.25.

Shares of Virtusa (VRTU) traded up $0.66 during trading hours on Thursday, hitting $45.01. 899,300 shares of the stock traded hands, compared to its average volume of 294,251. The firm has a market cap of $1,321.72, a PE ratio of 51.15, a PEG ratio of 2.16 and a beta of 1.71. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.18. Virtusa has a one year low of $24.26 and a one year high of $48.71.

Virtusa (NASDAQ:VRTU) last issued its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $248.20 million during the quarter, compared to analysts’ expectations of $237.48 million. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.27 EPS. sell-side analysts forecast that Virtusa will post 1.04 EPS for the current fiscal year.

In other Virtusa news, Director Robert E. Davoli sold 1,505 shares of the company’s stock in a transaction that occurred on Tuesday, December 12th. The shares were sold at an average price of $45.31, for a total value of $68,191.55. Following the completion of the transaction, the director now directly owns 9,996 shares in the company, valued at approximately $452,918.76. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $38.01, for a total transaction of $152,990.25. Following the completion of the transaction, the insider now owns 108,576 shares of the company’s stock, valued at $4,126,973.76. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,791 shares of company stock valued at $3,737,518. 5.96% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Victory Capital Management Inc. acquired a new position in Virtusa in the 3rd quarter valued at approximately $130,000. US Bancorp DE increased its position in Virtusa by 10.3% in the 2nd quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock valued at $103,000 after acquiring an additional 327 shares during the period. SG Americas Securities LLC bought a new stake in shares of Virtusa in the 2nd quarter valued at $120,000. Piedmont Investment Advisors LLC bought a new stake in shares of Virtusa in the 3rd quarter valued at $224,000. Finally, Municipal Employees Retirement System of Michigan boosted its stake in shares of Virtusa by 4.2% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock valued at $191,000 after purchasing an additional 260 shares during the last quarter. Hedge funds and other institutional investors own 88.04% of the company’s stock.

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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.

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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