Virtusa (VRTU) Issues FY 2020 Earnings Guidance

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Virtusa (NASDAQ:VRTU) updated its FY 2020 earnings guidance on Wednesday. The company provided EPS guidance of $2.58-2.82 for the period, compared to the Thomson Reuters consensus EPS estimate of $2.28. The company issued revenue guidance of $1.359-1.399 billion, compared to the consensus revenue estimate of $1.25 billion.Virtusa also updated its Q1 2020 guidance to $0.37-0.43 EPS.

Several equities analysts recently issued reports on the stock. Cantor Fitzgerald reissued a buy rating and set a $62.00 price objective on shares of Virtusa in a report on Friday, February 8th. Barrington Research reissued a buy rating and set a $64.00 price objective on shares of Virtusa in a report on Friday, May 10th. BidaskClub raised shares of Virtusa from a hold rating to a buy rating in a report on Friday, March 15th. Finally, Zacks Investment Research upgraded shares of Virtusa from a hold rating to a buy rating and set a $61.00 target price for the company in a research note on Friday, April 12th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of Buy and an average target price of $62.83.

VRTU traded up $1.63 during trading on Wednesday, hitting $54.20. The stock had a trading volume of 72,163 shares, compared to its average volume of 112,224. The company has a market cap of $1.57 billion, a price-to-earnings ratio of 60.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.05. Virtusa has a twelve month low of $37.80 and a twelve month high of $58.60. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.82.

In other Virtusa news, CEO Kris A. Canekeratne sold 12,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $51.54, for a total value of $618,480.00. Following the completion of the sale, the chief executive officer now directly owns 649,387 shares in the company, valued at $33,469,405.98. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kris A. Canekeratne sold 10,160 shares of Virtusa stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $51.00, for a total transaction of $518,160.00. Following the sale, the chief executive officer now owns 635,547 shares of the company’s stock, valued at $32,412,897. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 158,175 shares of company stock valued at $8,295,869. 5.11% of the stock is owned by insiders.

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About Virtusa

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.

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Earnings History and Estimates for Virtusa (NASDAQ:VRTU)

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