Virtusa (VRTU) Cut to “Hold” at ValuEngine
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.
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.
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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To view ValuEngine’s full report, visit ValuEngine’s official website.
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