Virtusa (NASDAQ:VRTU) updated its third quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $0.56-0.62 for the period, compared to the Thomson Reuters consensus estimate of $0.59. The company issued revenue guidance of $308-316 million, compared to the consensus revenue estimate of $316.87 million.Virtusa also updated its FY 2019 guidance to $2.19-2.31 EPS.

A number of research firms have issued reports on VRTU. Barrington Research restated a buy rating and set a $64.00 price target on shares of Virtusa in a report on Friday. ValuEngine cut shares of Virtusa from a strong-buy rating to a buy rating in a report on Thursday, November 1st. BidaskClub cut shares of Virtusa from a buy rating to a hold rating in a research note on Thursday, November 1st. Zacks Investment Research cut shares of Virtusa from a buy rating to a hold rating in a research note on Tuesday, September 11th. Finally, Wedbush increased their target price on shares of Virtusa from $60.00 to $70.00 and gave the company an outperform rating in a research note on Friday, August 31st. Four investment analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $62.00.

Shares of NASDAQ VRTU traded down $0.78 during mid-day trading on Friday, hitting $48.77. The company had a trading volume of 283,052 shares, compared to its average volume of 138,088. The company has a debt-to-equity ratio of 0.68, a quick ratio of 2.50 and a current ratio of 2.50. Virtusa has a 12 month low of $39.77 and a 12 month high of $58.60. The stock has a market cap of $1.47 billion, a PE ratio of 54.80, a PEG ratio of 1.56 and a beta of 1.23.

Virtusa (NASDAQ:VRTU) last released its earnings results on Thursday, November 8th. The information technology services provider reported $0.54 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.54. Virtusa had a negative net margin of 0.80% and a positive return on equity of 7.38%. The business had revenue of $305.50 million during the quarter, compared to analysts’ expectations of $306.37 million. During the same quarter last year, the company earned $0.35 earnings per share. The firm’s revenue was up 23.1% on a year-over-year basis. Research analysts forecast that Virtusa will post 1.59 earnings per share for the current fiscal year.

In related news, President Samir Dhir sold 4,000 shares of the stock in a transaction dated Thursday, November 1st. The shares were sold at an average price of $49.55, for a total value of $198,200.00. Following the completion of the transaction, the president now owns 118,822 shares of the company’s stock, valued at $5,887,630.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 3,000 shares of the stock in a transaction dated Friday, August 17th. The stock was sold at an average price of $53.17, for a total transaction of $159,510.00. Following the completion of the transaction, the chief executive officer now directly owns 722,691 shares of the company’s stock, valued at approximately $38,425,480.47. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,000 shares of company stock valued at $569,270. 5.11% of the stock is owned by corporate insiders.

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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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