Virtusa (VRTU) Issues Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Virtusa (NASDAQ:VRTU) released its quarterly earnings data on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.02, Bloomberg Earnings reports. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The firm had revenue of $263.80 million for the quarter, compared to the consensus estimate of $259.81 million. During the same period last year, the firm earned $0.37 earnings per share. The company’s quarterly revenue was up 21.5% on a year-over-year basis. Virtusa updated its Q4 guidance to $0.51-0.57 EPS.

Virtusa (NASDAQ:VRTU) opened at $49.25 on Friday. The stock has a market cap of $1,456.47, a price-to-earnings ratio of 61.86, a price-to-earnings-growth ratio of 2.50 and a beta of 1.48. Virtusa has a fifty-two week low of $25.72 and a fifty-two week high of $50.00. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.23.

In other Virtusa news, insider Raj Rajgopal sold 4,025 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $47.53, for a total value of $191,308.25. Following the completion of the transaction, the insider now owns 98,576 shares of the company’s stock, valued at $4,685,317.28. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert E. Davoli sold 1,505 shares of the firm’s stock in a transaction on Tuesday, December 12th. The stock was sold at an average price of $45.31, for a total transaction of $68,191.55. Following the completion of the transaction, the director now directly owns 9,996 shares of the company’s stock, valued at approximately $452,918.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,580 shares of company stock valued at $3,127,526. Corporate insiders own 5.96% of the company’s stock.

Several institutional investors have recently modified their holdings of VRTU. Schwab Charles Investment Management Inc. raised its holdings in shares of Virtusa by 1.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 118,351 shares of the information technology services provider’s stock worth $3,480,000 after purchasing an additional 1,324 shares during the last quarter. Teachers Advisors LLC raised its holdings in shares of Virtusa by 4.6% during the second quarter. Teachers Advisors LLC now owns 49,641 shares of the information technology services provider’s stock worth $1,459,000 after purchasing an additional 2,171 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Virtusa by 0.5% during the second quarter. Ameriprise Financial Inc. now owns 146,502 shares of the information technology services provider’s stock worth $4,307,000 after purchasing an additional 705 shares during the last quarter. Northern Trust Corp raised its holdings in shares of Virtusa by 48.6% during the second quarter. Northern Trust Corp now owns 588,770 shares of the information technology services provider’s stock worth $17,309,000 after purchasing an additional 192,475 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Virtusa by 6.1% during the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock worth $60,964,000 after purchasing an additional 119,133 shares during the last quarter. 86.50% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently commented on VRTU. Barrington Research increased their target price on shares of Virtusa from $52.00 to $55.00 and gave the company an “outperform” rating in a research report on Friday, February 9th. Maxim Group set a $59.00 target price on shares of Virtusa and gave the company a “buy” rating in a research report on Thursday, February 8th. Zacks Investment Research raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research report on Thursday, January 25th. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Finally, Cowen reaffirmed a “buy” rating and issued a $55.00 price target on shares of Virtusa in a report on Thursday, December 14th. One investment analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average target price of $50.63.

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About Virtusa

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.

Earnings History for Virtusa (NASDAQ:VRTU)

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