Virtusa Co. (NASDAQ:VRTU) Expected to Announce Quarterly Sales of $327.20 Million

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Equities analysts predict that Virtusa Co. (NASDAQ:VRTU) will report sales of $327.20 million for the current quarter, according to Zacks. Four analysts have provided estimates for Virtusa’s earnings. The highest sales estimate is $328.43 million and the lowest is $325.80 million. Virtusa reported sales of $305.52 million during the same quarter last year, which would suggest a positive year over year growth rate of 7.1%. The firm is scheduled to issue its next earnings results on Thursday, November 14th.

According to Zacks, analysts expect that Virtusa will report full year sales of $1.34 billion for the current year, with estimates ranging from $1.33 billion to $1.35 billion. For the next financial year, analysts expect that the business will report sales of $1.46 billion, with estimates ranging from $1.45 billion to $1.47 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research firms that cover Virtusa.

Virtusa (NASDAQ:VRTU) last announced its quarterly earnings results on Thursday, August 8th. The information technology services provider reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $317.59 million. Virtusa had a net margin of 2.23% and a return on equity of 11.67%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.50 earnings per share.

Several brokerages recently issued reports on VRTU. Barrington Research restated an “outperform” rating and set a $60.00 target price (down from $64.00) on shares of Virtusa in a research report on Monday, August 12th. ValuEngine lowered shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Zacks Investment Research upgraded shares of Virtusa from a “sell” rating to a “hold” rating in a research report on Friday. Wedbush restated an “outperform” rating and set a $60.00 target price (down from $70.00) on shares of Virtusa in a research report on Thursday, May 16th. Finally, Needham & Company LLC restated a “strong-buy” rating and set a $60.00 target price on shares of Virtusa in a research report on Thursday, May 16th. Three analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $56.17.

In other Virtusa news, CEO Kris A. Canekeratne sold 7,500 shares of Virtusa stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $44.31, for a total transaction of $332,325.00. Following the transaction, the chief executive officer now owns 723,926 shares of the company’s stock, valued at $32,077,161.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Doody purchased 5,000 shares of the stock in a transaction on Friday, May 31st. The shares were purchased at an average cost of $42.50 per share, for a total transaction of $212,500.00. Following the acquisition, the director now directly owns 14,684 shares of the company’s stock, valued at $624,070. The disclosure for this purchase can be found here. 4.73% of the stock is owned by insiders.

A number of large investors have recently modified their holdings of the business. Macquarie Group Ltd. lifted its holdings in shares of Virtusa by 50.0% in the fourth quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock worth $26,000 after buying an additional 200 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of Virtusa by 1,640.5% in the second quarter. Tower Research Capital LLC TRC now owns 644 shares of the information technology services provider’s stock worth $29,000 after buying an additional 607 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. purchased a new position in shares of Virtusa in the second quarter worth $42,000. Financial Gravity Wealth Inc. purchased a new position in shares of Virtusa in the second quarter worth $56,000. Finally, Oppenheimer Asset Management Inc. lifted its holdings in shares of Virtusa by 35.3% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,495 shares of the information technology services provider’s stock worth $66,000 after buying an additional 390 shares in the last quarter. 87.65% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ VRTU traded up $0.27 during trading hours on Tuesday, hitting $36.24. 12,846 shares of the company’s stock traded hands, compared to its average volume of 266,199. The business’s fifty day moving average price is $40.93 and its two-hundred day moving average price is $47.39. 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 firm has a market capitalization of $1.09 billion, a P/E ratio of 24.77, a P/E/G ratio of 1.06 and a beta of 1.16. Virtusa has a 52 week low of $31.99 and a 52 week high of $58.60.

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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