Virtusa’s (VRTU) “Overweight” Rating Reiterated at Cantor Fitzgerald

Virtusa (NASDAQ:VRTU)‘s stock had its “overweight” rating reissued by Cantor Fitzgerald in a note issued to investors on Thursday, The Fly reports. They presently have a $56.00 target price on the information technology services provider’s stock, down from their previous target price of $62.00. Cantor Fitzgerald’s price target would suggest a potential upside of 6.52% from the company’s previous close.

Other research analysts have also issued research reports about the company. Zacks Investment Research lowered Virtusa from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Barrington Research reiterated a “buy” rating and set a $64.00 target price on shares of Virtusa in a report on Tuesday, January 29th. Finally, BidaskClub downgraded Virtusa from a “buy” rating to a “hold” rating in a report on Tuesday, April 16th. Two analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. Virtusa currently has a consensus rating of “Buy” and an average target price of $61.83.

VRTU opened at $52.57 on Thursday. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 59.07, 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 current ratio of 2.35 and a quick ratio of 2.35. Virtusa has a one year low of $37.80 and a one year high of $58.60.



In other Virtusa news, CEO Kris A. Canekeratne sold 62,175 shares of the company’s stock in a transaction that occurred on Monday, March 11th. The stock was sold at an average price of $51.19, for a total transaction of $3,182,738.25. Following the transaction, the chief executive officer now owns 683,292 shares in the company, valued at approximately $34,977,717.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $56.41, for a total value of $676,920.00. Following the transaction, the chief executive officer now owns 597,117 shares in the company, valued at approximately $33,683,369.97. The disclosure for this sale can be found here. Insiders have sold a total of 146,175 shares of company stock worth $7,677,389 in the last quarter. Company insiders own 5.11% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. Macquarie Group Ltd. grew its holdings in shares of Virtusa by 50.0% during the 4th quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock worth $26,000 after acquiring an additional 200 shares during the period. Advisor Group Inc. grew its holdings in shares of Virtusa by 44.8% during the 1st quarter. Advisor Group Inc. now owns 908 shares of the information technology services provider’s stock worth $49,000 after acquiring an additional 281 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in shares of Virtusa during the 4th quarter worth approximately $43,000. Pearl River Capital LLC purchased a new position in shares of Virtusa during the 4th quarter worth approximately $64,000. Finally, Mitsubishi UFJ Securities Holdings Co. Ltd. purchased a new position in shares of Virtusa during the 1st quarter worth approximately $90,000. Hedge funds and other institutional investors own 88.92% of the company’s stock.

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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