Wall Street brokerages expect Virtusa Co. (NASDAQ:VRTU) to report sales of $297.92 million for the current quarter, Zacks Investment Research reports. Four analysts have provided estimates for Virtusa’s earnings, with the lowest sales estimate coming in at $297.27 million and the highest estimate coming in at $298.61 million. Virtusa posted sales of $227.35 million during the same quarter last year, which would indicate a positive year over year growth rate of 31%. The company is scheduled to announce its next quarterly earnings results on Tuesday, August 14th.
On average, analysts expect that Virtusa will report full-year sales of $1.25 billion for the current fiscal year, with estimates ranging from $1.25 billion to $1.26 billion. For the next financial year, analysts anticipate that the firm will report sales of $1.39 billion per share, with estimates ranging from $1.37 billion to $1.41 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that that provide coverage for Virtusa.
Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Tuesday, May 15th. The information technology services provider reported $0.55 EPS for the quarter, meeting analysts’ consensus estimates of $0.55. Virtusa had a return on equity of 5.94% and a net margin of 0.12%. The company had revenue of $281.30 million during the quarter, compared to analysts’ expectations of $282.44 million. During the same period last year, the business posted $0.43 earnings per share. The firm’s revenue was up 24.5% compared to the same quarter last year.
Several research analysts have recently issued reports on VRTU shares. Barrington Research set a $55.00 price objective on Virtusa and gave the stock a “buy” rating in a research note on Tuesday, March 13th. Cantor Fitzgerald restated a “buy” rating and issued a $60.00 price objective (up from $52.00) on shares of Virtusa in a research note on Tuesday, March 13th. Needham & Company LLC raised their price objective on Virtusa to $65.00 and gave the stock a “buy” rating in a research note on Thursday, March 15th. Maxim Group raised their price objective on Virtusa to $64.00 and gave the stock a “buy” rating in a research note on Wednesday, March 14th. Finally, BidaskClub upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Wednesday, April 18th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and two have issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $57.88.
Virtusa traded up $0.28, reaching $48.68, during midday trading on Monday, Marketbeat.com reports. The company’s stock had a trading volume of 122,298 shares, compared to its average volume of 212,068. Virtusa has a 52-week low of $28.45 and a 52-week high of $54.21. The stock has a market cap of $1.44 billion, a PE ratio of 54.70, a price-to-earnings-growth ratio of 1.61 and a beta of 1.28. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.53 and a current ratio of 2.54.
In related news, EVP Sundararajan Narayanan sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $53.42, for a total transaction of $106,840.00. Following the sale, the executive vice president now directly owns 79,086 shares of the company’s stock, valued at $4,224,774.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Raj Rajgopal sold 4,025 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $47.29, for a total value of $190,342.25. Following the sale, the insider now directly owns 47,713 shares in the company, valued at $2,256,347.77. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,579 shares of company stock worth $3,730,739. 5.96% of the stock is owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of VRTU. SG Americas Securities LLC acquired a new stake in Virtusa during the first quarter worth about $107,000. Fortis Advisors LLC acquired a new stake in Virtusa during the first quarter worth about $116,000. We Are One Seven LLC acquired a new stake in Virtusa during the fourth quarter worth about $143,000. Stevens Capital Management LP acquired a new stake in Virtusa during the first quarter worth about $209,000. Finally, LPL Financial LLC acquired a new stake in Virtusa during the first quarter worth about $219,000. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
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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