Virtusa (VRTU) Updates Q4 Earnings Guidance

Virtusa (NASDAQ:VRTU) updated its fourth quarter earnings guidance on Thursday. The company provided earnings per share guidance of $0.51-0.57 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $0.52. The company issued revenue guidance of $274-280 million, compared to the consensus revenue estimate of $268.99 million.

Several brokerages have recently weighed in on VRTU. BidaskClub cut shares of Virtusa from a buy rating to a hold rating in a research report on Wednesday, January 10th. Maxim Group set a $59.00 price objective on shares of Virtusa and gave the stock a buy rating in a research note on Thursday. Barrington Research boosted their price objective on shares of Virtusa from $52.00 to $55.00 and gave the stock an outperform rating in a research note on Friday. TheStreet upgraded shares of Virtusa from a c rating to a b- rating in a research note on Wednesday, November 8th. Finally, Zacks Investment Research upgraded shares of Virtusa from a hold rating to a buy rating and set a $52.00 price objective for the company in a research note on Thursday, January 25th. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Virtusa currently has an average rating of Buy and a consensus price target of $50.63.

Virtusa (NASDAQ:VRTU) traded up $0.62 during midday trading on Friday, hitting $46.95. 34,783 shares of the company traded hands, compared to its average volume of 194,171. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.03. The company has a market cap of $1,234.52, a price-to-earnings ratio of 65.25, a PEG ratio of 2.02 and a beta of 1.48. Virtusa has a 1 year low of $25.72 and a 1 year high of $48.71.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The firm had revenue of $263.80 million during the quarter, compared to analyst estimates of $259.81 million. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. Virtusa’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.37 EPS. analysts anticipate that Virtusa will post 1.04 EPS for the current year.

In other Virtusa news, CEO Kris A. Canekeratne sold 10,000 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The shares were sold at an average price of $45.06, for a total transaction of $450,600.00. Following the transaction, the chief executive officer now owns 559,491 shares in the company, valued at approximately $25,210,664.46. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The shares were sold at an average price of $46.04, for a total transaction of $552,480.00. Following the transaction, the chief executive officer now owns 559,491 shares in the company, valued at approximately $25,758,965.64. The disclosure for this sale can be found here. Insiders have sold a total of 65,555 shares of company stock worth $3,013,598 in the last 90 days. 5.96% of the stock is currently owned by company insiders.

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Virtusa Company Profile

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 and Estimates for Virtusa (NASDAQ:VRTU)

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