ValuEngine Lowers Virtusa (NASDAQ:VRTU) to Hold

ValuEngine downgraded shares of Virtusa (NASDAQ:VRTU) from a buy rating to a hold rating in a research report released on Saturday morning, ValuEngine reports.

Other analysts have also issued research reports about the company. Wedbush restated an outperform rating and issued a $60.00 target price (down previously from $70.00) on shares of Virtusa in a report on Thursday, May 16th. Zacks Investment Research upgraded Virtusa from a hold rating to a buy rating and set a $49.00 target price for the company in a report on Wednesday, May 22nd. TheStreet lowered Virtusa from a b- rating to a c+ rating in a report on Wednesday, May 29th. BidaskClub lowered Virtusa from a buy rating to a hold rating in a report on Tuesday, April 16th. Finally, Cantor Fitzgerald restated an overweight rating and issued a $56.00 target price (down previously from $62.00) on shares of Virtusa in a report on Thursday, May 16th. Two research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of Buy and an average price target of $56.17.

VRTU opened at $33.30 on Friday. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 0.86 and a beta of 1.16. The company has a current ratio of 2.71, a quick ratio of 2.71 and a debt-to-equity ratio of 0.90. The stock’s fifty day moving average is $43.25. Virtusa has a fifty-two week low of $32.34 and a fifty-two week high of $58.60.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Thursday, August 8th. The information technology services provider reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.01. The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $317.59 million. Virtusa had a return on equity of 11.85% and a net margin of 2.23%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $0.50 EPS. On average, equities research analysts expect that Virtusa will post 2.01 EPS for the current fiscal year.

In other news, CEO Kris A. Canekeratne sold 7,500 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $44.31, for a total value of $332,325.00. Following the completion of the sale, the chief executive officer now owns 723,926 shares in the company, valued at $32,077,161.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Doody bought 5,000 shares of Virtusa stock in a transaction dated Friday, May 31st. The stock was acquired at an average price of $42.50 per share, with a total value of $212,500.00. Following the acquisition, the director now directly owns 14,684 shares of the company’s stock, valued at $624,070. The disclosure for this purchase can be found here. 4.73% of the stock is owned by corporate insiders.

Large investors have recently made changes to their positions in the stock. Tower Research Capital LLC TRC grew its position in Virtusa by 1,640.5% during the second quarter. Tower Research Capital LLC TRC now owns 644 shares of the information technology services provider’s stock worth $29,000 after buying an additional 607 shares in the last quarter. BlackRock Inc. grew its position in Virtusa by 2.3% during the second quarter. BlackRock Inc. now owns 4,112,285 shares of the information technology services provider’s stock worth $182,708,000 after buying an additional 93,202 shares in the last quarter. Pinebridge Investments L.P. grew its position in Virtusa by 239.0% during the second quarter. Pinebridge Investments L.P. now owns 24,028 shares of the information technology services provider’s stock worth $1,068,000 after buying an additional 16,941 shares in the last quarter. Northern Trust Corp grew its position in Virtusa by 0.3% during the second quarter. Northern Trust Corp now owns 394,802 shares of the information technology services provider’s stock worth $17,541,000 after buying an additional 1,069 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new stake in Virtusa during the second quarter worth about $79,000. Institutional investors and hedge funds own 79.55% 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.

Recommended Story: Buy Rating

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Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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