Cantor Fitzgerald Reaffirms Buy Rating for Virtusa Corporation (NASDAQ:VRTU)

Cantor Fitzgerald reaffirmed their buy rating on shares of Virtusa Corporation (NASDAQ:VRTU) in a research report sent to investors on Sunday, November 5th. They currently have a $37.00 price target on the information technology services provider’s stock.

VRTU has been the subject of several other research reports. Zacks Investment Research upgraded Virtusa Corporation from a hold rating to a buy rating and set a $36.00 price target for the company in a research note on Wednesday, July 19th. Cowen Inc reissued a buy rating and set a $37.00 price objective on shares of Virtusa Corporation in a research report on Thursday, October 12th. BidaskClub cut Virtusa Corporation from a buy rating to a hold rating in a research report on Saturday, July 8th. Barrington Research boosted their price objective on Virtusa Corporation from $35.00 to $40.00 and gave the stock an outperform rating in a research report on Wednesday, August 9th. Finally, Needham & Company LLC reaffirmed a buy rating and issued a $38.00 price target on shares of Virtusa Corporation in a report on Thursday, August 10th. Two investment 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 currently has a consensus rating of Buy and a consensus target price of $45.00.

Virtusa Corporation (NASDAQ:VRTU) traded up $0.11 during trading hours on Friday, reaching $47.65. The company had a trading volume of 85,244 shares, compared to its average volume of 299,122. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.18. Virtusa Corporation has a 52-week low of $21.30 and a 52-week high of $48.71. The firm has a market capitalization of $1,396.03, a price-to-earnings ratio of 54.02, a price-to-earnings-growth ratio of 2.29 and a beta of 1.66.

Virtusa Corporation (NASDAQ:VRTU) last issued its earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.24 by $0.11. The firm 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 quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.27 earnings per share. sell-side analysts anticipate that Virtusa Corporation will post 1.04 earnings per share for the current year.

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In other news, Director Trust Martin sold 12,255 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $35.31, for a total value of $432,724.05. Following the transaction, the director now directly owns 9,397 shares in the company, valued at approximately $331,808.07. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raj Rajgopal sold 4,025 shares of the firm’s stock in a transaction on Friday, September 1st. The stock was sold at an average price of $36.05, for a total value of $145,101.25. Following the completion of the transaction, the insider now owns 107,216 shares in the company, valued at $3,865,136.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 103,410 shares of company stock valued at $4,107,843. 5.96% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the stock. Victory Capital Management Inc. acquired a new stake in Virtusa Corporation during the 3rd quarter worth $130,000. US Bancorp DE raised its stake in shares of Virtusa Corporation by 10.3% in the 2nd quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock valued at $103,000 after purchasing an additional 327 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Virtusa Corporation in the 2nd quarter valued at about $120,000. State of Alaska Department of Revenue raised its stake in shares of Virtusa Corporation by 79.9% in the 2nd quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock valued at $160,000 after purchasing an additional 2,430 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Virtusa Corporation in the 3rd quarter valued at about $224,000. 90.02% of the stock is currently owned by institutional investors and hedge funds.

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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