Analysts Expect Virtusa Co. (NASDAQ:VRTU) Will Post Quarterly Sales of $327.20 Million

Equities research analysts expect Virtusa Co. (NASDAQ:VRTU) to report $327.20 million in sales for the current quarter, according to Zacks. Four analysts have issued estimates for Virtusa’s earnings. The lowest sales estimate is $325.80 million and the highest is $328.43 million. Virtusa posted sales of $305.52 million during the same quarter last year, which would indicate a positive year over year growth rate of 7.1%. The business is expected to announce its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Virtusa will report full year sales of $1.34 billion for the current year, with estimates ranging from $1.33 billion to $1.35 billion. For the next fiscal year, analysts expect that the firm will post sales of $1.46 billion, with estimates ranging from $1.45 billion to $1.47 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research firms that that provide coverage for Virtusa.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $0.41 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.01. The firm had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $317.59 million. Virtusa had a return on equity of 11.67% and a net margin of 2.23%. The company’s revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.50 earnings per share.



A number of analysts recently commented on VRTU shares. Barrington Research reaffirmed an “outperform” rating and issued a $60.00 price target (down previously from $64.00) on shares of Virtusa in a research note on Monday, August 12th. BidaskClub raised Virtusa from a “hold” rating to a “buy” rating in a research report on Thursday. TheStreet cut Virtusa from a “b-” rating to a “c+” rating in a research report on Wednesday, May 29th. ValuEngine cut Virtusa from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Finally, Needham & Company LLC cut Virtusa from a “strong-buy” rating to a “buy” rating and dropped their target price for the stock from $50.00 to $48.00 in a research report on Tuesday, September 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $54.17.

In other news, CEO Kris A. Canekeratne sold 15,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $36.57, for a total value of $548,550.00. Following the transaction, the chief executive officer now owns 706,748 shares in the company, valued at $25,845,774.36. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $44.31, for a total value of $332,325.00. Following the completion of the transaction, the chief executive officer now owns 723,926 shares in the company, valued at approximately $32,077,161.06. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock worth $1,024,515 over the last three months. Corporate insiders own 4.73% of the company’s stock.

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its stake 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 acquiring an additional 607 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new stake in Virtusa during the 2nd quarter worth about $42,000. Financial Gravity Wealth Inc. acquired a new stake in shares of Virtusa during the second quarter worth about $56,000. Oppenheimer Asset Management Inc. increased its position in shares of Virtusa by 35.3% during the second quarter. Oppenheimer Asset Management Inc. now owns 1,495 shares of the information technology services provider’s stock worth $66,000 after purchasing an additional 390 shares in the last quarter. Finally, Quantamental Technologies LLC acquired a new position in Virtusa in the 2nd quarter valued at about $79,000. 88.24% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:VRTU traded up $0.30 during trading on Wednesday, reaching $39.93. 3,995 shares of the company traded hands, compared to its average volume of 245,300. The firm has a market capitalization of $1.22 billion, a price-to-earnings ratio of 27.35, a P/E/G ratio of 1.16 and a beta of 1.20. Virtusa has a 52-week low of $31.99 and a 52-week high of $58.60. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.99. The business’s fifty day moving average is $38.79 and its 200-day moving average is $46.28.

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.

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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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