$280.01 Million in Sales Expected for Virtusa Co. (VRTU) This Quarter

Brokerages predict that Virtusa Co. (NASDAQ:VRTU) will announce sales of $280.01 million for the current quarter, Zacks reports. Five analysts have issued estimates for Virtusa’s earnings, with the highest sales estimate coming in at $283.28 million and the lowest estimate coming in at $276.80 million. Virtusa posted sales of $225.96 million in the same quarter last year, which would indicate a positive year over year growth rate of 23.9%. The business is expected to report its next quarterly earnings results on Tuesday, May 15th.

On average, analysts expect that Virtusa will report full year sales of $1.02 billion for the current fiscal year. For the next fiscal year, analysts forecast that the firm will report sales of $1.19 billion per share, with estimates ranging from $1.12 billion to $1.25 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Virtusa.

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Virtusa (NASDAQ:VRTU) last issued its earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The firm had revenue of $263.80 million during the quarter, compared to analysts’ expectations of $259.81 million. During the same quarter last year, the company posted $0.37 earnings per share. The firm’s revenue was up 21.5% compared to the same quarter last year.

A number of research analysts have weighed in on VRTU shares. Zacks Investment Research raised shares of Virtusa from a “sell” rating to a “hold” rating in a report on Friday, April 13th. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a report on Saturday, January 20th. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $60.00 price objective (up previously from $52.00) on shares of Virtusa in a report on Tuesday, March 13th. Barrington Research lifted their price objective on shares of Virtusa from $52.00 to $55.00 and gave the company an “outperform” rating in a report on Friday, February 9th. Finally, Wedbush raised shares of Virtusa from a “neutral” rating to an “outperform” rating in a report on Wednesday, April 4th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Virtusa has an average rating of “Buy” and an average target price of $57.88.

Shares of Virtusa stock traded down $0.05 during trading on Tuesday, hitting $47.85. 12,892 shares of the company’s stock were exchanged, compared to its average volume of 226,374. Virtusa has a 52-week low of $25.72 and a 52-week high of $52.88. The company has a debt-to-equity ratio of 0.23, a current ratio of 4.24 and a quick ratio of 4.24. The stock has a market cap of $1,412.62, a PE ratio of 71.49, a price-to-earnings-growth ratio of 1.62 and a beta of 1.27.

In related news, insider Raj Rajgopal sold 4,025 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $47.53, for a total transaction of $191,308.25. Following the transaction, the insider now directly owns 98,576 shares in the company, valued at $4,685,317.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kris A. Canekeratne sold 3,000 shares of the business’s stock in a transaction dated Monday, April 16th. The stock was sold at an average price of $47.42, for a total transaction of $142,260.00. Following the transaction, the chief executive officer now owns 485,827 shares in the company, valued at $23,037,916.34. The disclosure for this sale can be found here. Insiders have sold 137,027 shares of company stock worth $6,782,317 over the last 90 days. 5.96% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can boosted its holdings in Virtusa by 5,546.1% in the 4th quarter. Bank of Montreal Can now owns 22,189 shares of the information technology services provider’s stock valued at $978,000 after purchasing an additional 21,796 shares during the last quarter. EAM Investors LLC acquired a new position in Virtusa in the 4th quarter valued at about $2,207,000. Teacher Retirement System of Texas acquired a new position in Virtusa in the 4th quarter valued at about $421,000. Aperio Group LLC boosted its holdings in Virtusa by 74.6% in the 4th quarter. Aperio Group LLC now owns 17,122 shares of the information technology services provider’s stock valued at $755,000 after purchasing an additional 7,318 shares during the last quarter. Finally, Capital Fund Management S.A. acquired a new position in Virtusa in the 4th quarter valued at about $450,000. Hedge funds and other institutional investors own 86.74% of the company’s stock.

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Virtusa Company Profile

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.

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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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