Virtusa Corporation (NASDAQ:VRTU) had its target price lifted by investment analysts at Needham & Company LLC to $55.00 in a note issued to investors on Friday. The firm presently has a “buy” rating on the information technology services provider’s stock. Needham & Company LLC’s price target would suggest a potential upside of 20.38% from the company’s current price.

VRTU has been the topic of several other research reports. Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 price target on shares of Virtusa Corporation in a report on Sunday, November 5th. Cowen and Company reaffirmed a “buy” rating and set a $37.00 target price on shares of Virtusa Corporation in a research note on Thursday, October 12th. Barrington Research lifted their target price on Virtusa Corporation from $35.00 to $40.00 and gave the company an “outperform” rating in a research note on Wednesday, August 9th. Maxim Group raised Virtusa Corporation from a “hold” rating to a “buy” rating and set a $51.00 target price on the stock in a research note on Wednesday, November 8th. Finally, BidaskClub raised Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $45.00.

Virtusa Corporation (NASDAQ VRTU) opened at $45.69 on Friday. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18. Virtusa Corporation has a 1-year low of $19.50 and a 1-year high of $48.15. The company has a market capitalization of $1,339.06, a P/E ratio of 51.82, a price-to-earnings-growth ratio of 2.19 and a beta of 1.66.

Virtusa Corporation (NASDAQ:VRTU) last announced its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. The business had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. Virtusa Corporation had a return on equity of 4.86% and a net margin of 2.54%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business posted $0.27 EPS. sell-side analysts expect that Virtusa Corporation will post 1.04 earnings per share for the current year.

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In related news, CEO Kris A. Canekeratne sold 22,000 shares of Virtusa Corporation stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.96, for a total transaction of $835,120.00. Following the completion of the sale, the chief executive officer now owns 577,491 shares of the company’s stock, valued at $21,921,558.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert E. Davoli sold 2,941 shares of Virtusa Corporation stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $35.39, for a total value of $104,081.99. Following the sale, the director now directly owns 14,442 shares of the company’s stock, valued at approximately $511,102.38. The disclosure for this sale can be found here. Insiders have sold 106,351 shares of company stock worth $4,211,925 in the last quarter. 5.96% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC lifted its position in shares of Virtusa Corporation by 0.6% in the second quarter. Aperio Group LLC now owns 9,836 shares of the information technology services provider’s stock worth $289,000 after buying an additional 60 shares during the last quarter. Louisiana State Employees Retirement System increased its stake in shares of Virtusa Corporation by 0.9% in the second quarter. Louisiana State Employees Retirement System now owns 11,300 shares of the information technology services provider’s stock worth $332,000 after purchasing an additional 100 shares during the period. Arizona State Retirement System increased its stake in shares of Virtusa Corporation by 0.7% in the second quarter. Arizona State Retirement System now owns 14,455 shares of the information technology services provider’s stock worth $425,000 after purchasing an additional 100 shares during the period. Municipal Employees Retirement System of Michigan increased its stake in shares of Virtusa Corporation by 4.2% in the second quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after purchasing an additional 260 shares during the period. Finally, Texas Permanent School Fund increased its stake in shares of Virtusa Corporation by 1.4% in the second quarter. Texas Permanent School Fund now owns 20,231 shares of the information technology services provider’s stock worth $595,000 after purchasing an additional 276 shares during the period. 91.76% of the stock is owned by hedge funds and other institutional investors.

About Virtusa Corporation

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.

Analyst Recommendations for Virtusa Corporation (NASDAQ:VRTU)

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