Virtusa (VRTU) Price Target Raised to $56.00

By Ghana News Agency

Virtusa (NASDAQ:VRTU) had its price objective increased by SunTrust Banks to $56.00 in a report released on Monday morning, The Fly reports. SunTrust Banks currently has a hold rating on the information technology services providers stock.

Other equities analysts have also recently issued reports about the stock. BidaskClub raised shares of Virtusa from a hold rating to a buy rating in a research note on Thursday, June 7th. Needham & Company LLC lifted their price target on shares of Virtusa from $65.00 to $68.00 and gave the stock a strong-buy rating in a research note on Thursday, August 9th. Cantor Fitzgerald lifted their price target on shares of Virtusa from $60.00 to $62.00 and gave the stock an overweight rating in a research note on Friday, August 10th. Barrington Research set a $55.00 price target on shares of Virtusa and gave the stock a buy rating in a research note on Wednesday, May 16th. Finally, ValuEngine raised shares of Virtusa from a buy rating to a strong-buy rating in a research note on Wednesday, May 2nd. Two equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Virtusa has an average rating of Buy and a consensus price target of $60.75.

VRTU stock opened at $51.98 on Monday. Virtusa has a 12 month low of $33.50 and a 12 month high of $55.68. The company has a debt-to-equity ratio of 0.68, a current ratio of 2.50 and a quick ratio of 2.50. The stock has a market cap of $1.57 billion, a P/E ratio of 58.40, a PEG ratio of 1.70 and a beta of 1.19.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, August 8th. The information technology services provider reported $0.50 EPS for the quarter, topping analysts consensus estimates of $0.47 by $0.03. Virtusa had a negative net margin of 0.80% and a positive return on equity of 7.38%. The firm had revenue of $300.00 million during the quarter, compared to analysts expectations of $298.00 million. During the same period in the previous year, the company earned $0.25 EPS. The firms revenue for the quarter was up 32.0% compared to the same quarter last year. research analysts expect that Virtusa will post 1.55 earnings per share for the current year.

In other Virtusa news, COO Roger Keith Modder sold 14,000 shares of the businesss stock in a transaction dated Monday, May 21st. The shares were sold at an average price of $47.44, for a total value of $664,160.00. Following the completion of the sale, the chief operating officer now directly owns 176,239 shares of the companys stock, valued at approximately $8,360,778.16. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William K. Obrien sold 14,074 shares of the businesss stock in a transaction dated Tuesday, June 5th. The shares were sold at an average price of $52.05, for a total transaction of $732,551.70. Following the completion of the sale, the director now directly owns 26,920 shares of the companys stock, valued at $1,401,186. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,848 shares of company stock valued at $3,987,939. 5.11% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in VRTU. Wells Fargo & Company MN boosted its position in Virtusa by 26.1% in the 4th quarter. Wells Fargo & Company MN now owns 42,736 shares of the information technology services providers stock valued at $1,884,000 after buying an additional 8,837 shares during the period. Deutsche Bank AG boosted its position in Virtusa by 117.2% in the 4th quarter. Deutsche Bank AG now owns 60,265 shares of the information technology services providers stock valued at $2,655,000 after buying an additional 32,517 shares during the period. Two Sigma Advisers LP purchased a new stake in Virtusa in the 4th quarter valued at about $239,000. Teachers Advisors LLC boosted its position in Virtusa by 2.6% in the 4th quarter. Teachers Advisors LLC now owns 49,935 shares of the information technology services providers stock valued at $2,201,000 after buying an additional 1,263 shares during the period. Finally, MetLife Investment Advisors LLC purchased a new stake in Virtusa in the 4th quarter valued at about $519,000. 82.71% of the stock is owned by institutional investors.

This article provided by NewsEdge.