Barrington Research reissued their buy rating on shares of Virtusa (NASDAQ:VRTU) in a report published on Tuesday, AnalystRatings.com reports. Barrington Research currently has a $60.00 price target on the information technology services provider’s stock.
A number of other analysts have also recently commented on VRTU. BidaskClub upgraded Virtusa from a hold rating to a buy rating in a research report on Thursday, September 12th. Zacks Investment Research cut Virtusa from a hold rating to a sell rating in a research report on Friday, September 13th. TheStreet cut Virtusa from a b- rating to a c+ rating in a research report on Wednesday, May 29th. Needham & Company LLC cut Virtusa from a strong-buy rating to a buy rating and cut their price objective for the company from $50.00 to $48.00 in a research report on Tuesday, September 10th. Finally, ValuEngine cut Virtusa from a buy rating to a hold rating in a research report on Saturday, August 10th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. Virtusa has a consensus rating of Buy and a consensus price target of $54.17.
Shares of VRTU stock opened at $39.01 on Tuesday. The stock has a 50 day moving average of $38.01 and a 200 day moving average of $45.95. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.99. The stock has a market cap of $1.20 billion, a P/E ratio of 26.72, a P/E/G ratio of 1.14 and a beta of 1.20. Virtusa has a twelve month low of $31.99 and a twelve month high of $57.00.
In other news, CEO Kris A. Canekeratne sold 15,000 shares of Virtusa stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $36.57, for a total value of $548,550.00. Following the sale, the chief executive officer now directly owns 706,748 shares of the company’s stock, valued at $25,845,774.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Samir Dhir sold 4,000 shares of Virtusa stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $35.91, for a total value of $143,640.00. Following the completion of the sale, the insider now directly owns 157,780 shares in the company, valued at $5,665,879.80. The disclosure for this sale can be found here. Insiders sold 26,500 shares of company stock valued at $1,024,515 over the last 90 days. Company insiders own 4.73% of the company’s stock.
Several large investors have recently modified their holdings of the company. United Services Automobile Association boosted its stake in shares of Virtusa by 6.4% in the second quarter. United Services Automobile Association now owns 115,335 shares of the information technology services provider’s stock worth $5,124,000 after acquiring an additional 6,900 shares during the last quarter. Hillcrest Asset Management LLC boosted its stake in shares of Virtusa by 0.6% in the second quarter. Hillcrest Asset Management LLC now owns 283,241 shares of the information technology services provider’s stock worth $12,584,000 after acquiring an additional 1,700 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Virtusa during the second quarter worth $16,669,000. UBS Asset Management Americas Inc. boosted its stake in Virtusa by 7.4% during the second quarter. UBS Asset Management Americas Inc. now owns 22,652 shares of the information technology services provider’s stock worth $1,006,000 after buying an additional 1,555 shares during the last quarter. Finally, Cubist Systematic Strategies LLC boosted its stake in Virtusa by 94.1% during the second quarter. Cubist Systematic Strategies LLC now owns 7,362 shares of the information technology services provider’s stock worth $327,000 after buying an additional 3,569 shares during the last quarter. 88.24% of the stock is currently owned by hedge funds and other institutional investors.
Virtusa Company Profile
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.
Recommended Story: What is diluted earnings per share (Diluted EPS)?
Receive News & Ratings for Virtusa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa and related companies with MarketBeat.com's FREE daily email newsletter.