Virtusa (NASDAQ:VRTU) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued on Friday, ValuEngine reports.

A number of other analysts have also issued reports on the company. Needham & Company LLC reaffirmed a “strong-buy” rating and set a $60.00 target price on shares of Virtusa in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $60.00 target price (down from $70.00) on shares of Virtusa in a research report on Thursday. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $56.00 target price (down from $62.00) on shares of Virtusa in a research report on Thursday. Barrington Research reiterated a “buy” rating and issued a $64.00 price target on shares of Virtusa in a research note on Friday, May 10th. Finally, Zacks Investment Research downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. Three investment analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. Virtusa currently has a consensus rating of “Buy” and a consensus target price of $58.83.

Shares of NASDAQ VRTU opened at $43.01 on Friday. Virtusa has a 1 year low of $37.80 and a 1 year high of $58.60. The stock has a market cap of $1.29 billion, a PE ratio of 48.33, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. The company has a debt-to-equity ratio of 0.82, a quick ratio of 2.35 and a current ratio of 2.35.

Virtusa (NASDAQ:VRTU) last announced its earnings results on Wednesday, May 15th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.41 by ($0.06). Virtusa had a return on equity of 11.39% and a net margin of 0.89%. The business had revenue of $327.60 million for the quarter, compared to analysts’ expectations of $330.91 million. During the same period in the previous year, the firm posted $0.55 earnings per share. The firm’s revenue was up 16.5% compared to the same quarter last year. Equities research analysts anticipate that Virtusa will post 1.58 earnings per share for the current year.

In related news, President Samir Dhir sold 4,000 shares of Virtusa stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $54.99, for a total value of $219,960.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $55.05, for a total value of $660,600.00. Following the completion of the transaction, the chief executive officer now owns 585,117 shares of the company’s stock, valued at $32,210,690.85. The disclosure for this sale can be found here. Insiders sold 146,175 shares of company stock valued at $7,677,389 over the last quarter. Insiders own 5.11% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in Virtusa by 2.4% in the third quarter. Vanguard Group Inc. now owns 2,352,310 shares of the information technology services provider’s stock worth $126,343,000 after purchasing an additional 55,460 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Virtusa by 8.4% in the fourth quarter. Thrivent Financial for Lutherans now owns 999,374 shares of the information technology services provider’s stock valued at $42,563,000 after acquiring an additional 77,337 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its stake in Virtusa by 6.0% in the fourth quarter. Rothschild & Co. Asset Management US Inc. now owns 181,963 shares of the information technology services provider’s stock valued at $7,750,000 after acquiring an additional 10,274 shares during the period. Pier Capital LLC acquired a new position in Virtusa in the first quarter valued at approximately $7,264,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in Virtusa by 342.9% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 8,894 shares of the information technology services provider’s stock valued at $379,000 after acquiring an additional 6,886 shares during the period. Institutional investors and hedge funds own 88.92% of the company’s stock.

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.

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Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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