Cantor Fitzgerald Reaffirms Buy Rating for Virtusa (VRTU)

Cantor Fitzgerald reissued their buy rating on shares of Virtusa (NASDAQ:VRTU) in a research note issued to investors on Tuesday, May 29th. Cantor Fitzgerald currently has a $60.00 target price on the information technology services provider’s stock.

“. We maintain our Overweight rating on Virtusa and our 12-mo. PT of $60 following meetings with management. The meetings focused on the recent acquisition (eTouch) and the outlook for the largest client. VRTU just completed a strong FY18 (ended March 2018) and is looking to continue the momentum. Virtusa saw strong performance in the BFSI (Banking, Financial Services & Insurance) vertical in FY18, including a new large contract at a large banking customer. We see reason for optimism as growth rates have improved along with margins.”,” Cantor Fitzgerald’s analyst wrote.

VRTU has been the topic of several other research reports. Zacks Investment Research cut shares of Virtusa from a hold rating to a sell rating in a research note on Wednesday, May 16th. BidaskClub cut shares of Virtusa from a buy rating to a hold rating in a research note on Wednesday, May 16th. ValuEngine raised shares of Virtusa from a hold rating to a buy rating in a research note on Thursday, March 1st. Wedbush cut shares of Virtusa from an outperform rating to a neutral rating and lifted their price objective for the stock from $55.00 to $60.00 in a research note on Tuesday, March 13th. Finally, Needham & Company LLC lifted their price objective on shares of Virtusa to $65.00 and gave the stock a buy rating in a research note on Thursday, March 15th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and two have issued a strong buy rating to the company. Virtusa presently has an average rating of Buy and a consensus target price of $57.88.

Virtusa stock traded down $0.18 during trading hours on Tuesday, hitting $51.13. 180,859 shares of the company traded hands, compared to its average volume of 215,887. The stock has a market cap of $1.56 billion, a price-to-earnings ratio of 57.45, a PEG ratio of 1.74 and a beta of 1.28. The company has a current ratio of 2.54, a quick ratio of 2.53 and a debt-to-equity ratio of 0.66. Virtusa has a 1-year low of $28.45 and a 1-year high of $54.06.

Virtusa (NASDAQ:VRTU) last released its earnings results on Tuesday, May 15th. The information technology services provider reported $0.55 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.55. The firm had revenue of $281.30 million for the quarter, compared to analysts’ expectations of $282.44 million. Virtusa had a net margin of 0.12% and a return on equity of 5.94%. Virtusa’s quarterly revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the company earned $0.43 EPS. research analysts expect that Virtusa will post 1.5 earnings per share for the current fiscal year.

In related news, insider Raj Rajgopal sold 4,025 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The shares were sold at an average price of $47.29, for a total transaction of $190,342.25. Following the completion of the sale, the insider now directly owns 47,713 shares in the company, valued at $2,256,347.77. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Ranjan Kalia sold 13,865 shares of the firm’s stock in a transaction that occurred on Friday, March 16th. The stock was sold at an average price of $50.38, for a total transaction of $698,518.70. Following the sale, the chief financial officer now owns 122,070 shares of the company’s stock, valued at $6,149,886.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 130,552 shares of company stock valued at $6,458,349. Corporate insiders own 5.96% of the company’s stock.

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC acquired a new stake in shares of Virtusa during the first quarter worth approximately $107,000. Fortis Advisors LLC acquired a new stake in Virtusa in the first quarter valued at approximately $116,000. We Are One Seven LLC acquired a new stake in Virtusa in the fourth quarter valued at approximately $143,000. LS Investment Advisors LLC lifted its stake in Virtusa by 359.5% in the fourth quarter. LS Investment Advisors LLC now owns 4,411 shares of the information technology services provider’s stock valued at $194,000 after acquiring an additional 3,451 shares during the last quarter. Finally, Stevens Capital Management LP acquired a new stake in Virtusa in the first quarter valued at approximately $209,000. Institutional investors and hedge funds own 85.64% of the company’s stock.

About Virtusa

Virtusa Corporation operates as an information technology (IT) services company. It offers business and IT consulting services comprising advisory/target operating model, business process re-engineering/BPM, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design ASD, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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