Virtusa (VRTU) Posts Earnings Results, Beats Estimates By $0.19 EPS

Virtusa (NASDAQ:VRTU) issued its quarterly earnings data on Thursday. The information technology services provider reported $0.61 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.19, Bloomberg Earnings reports. Virtusa had a return on equity of 11.22% and a net margin of 0.89%. The business had revenue of $314.68 million for the quarter, compared to the consensus estimate of $313.32 million. During the same period last year, the business earned $0.47 EPS. The firm’s revenue was up 19.3% compared to the same quarter last year.

Shares of NASDAQ VRTU opened at $49.83 on Friday. The company has a current ratio of 2.44, a quick ratio of 2.44 and a debt-to-equity ratio of 0.88. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 55.99, a price-to-earnings-growth ratio of 1.57 and a beta of 1.05. Virtusa has a 12 month low of $37.80 and a 12 month high of $58.60.

A number of research analysts recently weighed in on VRTU shares. SunTrust Banks raised Virtusa from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Thursday, November 29th. Barrington Research reissued a “buy” rating and issued a $64.00 price objective on shares of Virtusa in a research note on Tuesday, January 29th. ValuEngine downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. BidaskClub raised Virtusa from a “hold” rating to a “buy” rating in a research note on Friday, January 11th. Finally, Zacks Investment Research raised Virtusa from a “hold” rating to a “buy” rating and set a $49.00 price objective on the stock in a research note on Saturday, November 17th. One equities research analyst has rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $61.29.



In other news, CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction that occurred on Monday, December 31st. The stock was sold at an average price of $41.60, for a total transaction of $499,200.00. Following the sale, the chief executive officer now owns 683,907 shares of the company’s stock, valued at approximately $28,450,531.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Kris A. Canekeratne sold 1,480 shares of Virtusa stock in a transaction that occurred on Friday, December 28th. The stock was sold at an average price of $41.16, for a total value of $60,916.80. Following the sale, the chief executive officer now directly owns 683,907 shares in the company, valued at approximately $28,149,612.12. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 75,677 shares of company stock worth $3,411,435. Company insiders own 5.11% of the company’s stock.

Large investors have recently made changes to their positions in the company. Oppenheimer Asset Management Inc. acquired a new stake in shares of Virtusa during the 4th quarter worth approximately $43,000. Pearl River Capital LLC acquired a new stake in shares of Virtusa during the 4th quarter worth approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Virtusa by 47.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock worth $79,000 after purchasing an additional 603 shares in the last quarter. MML Investors Services LLC acquired a new stake in shares of Virtusa during the 3rd quarter worth approximately $217,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in shares of Virtusa by 22.9% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 5,793 shares of the information technology services provider’s stock worth $311,000 after purchasing an additional 1,080 shares in the last quarter. 85.46% of the stock is currently owned by institutional investors.

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Virtusa Company Profile

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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Earnings History for Virtusa (NASDAQ:VRTU)

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