Virtusa (NASDAQ:VRTU) Cut to “Market Perform” at Cowen

Share on StockTwits

Cowen lowered shares of Virtusa (NASDAQ:VRTU) from an outperform rating to a market perform rating in a report issued on Monday morning, Benzinga reports. They currently have $44.00 price objective on the information technology services provider’s stock, down from their prior price objective of $47.00.

A number of other equities research analysts have also weighed in on the stock. Barrington Research reissued a buy rating and set a $60.00 price objective on shares of Virtusa in a report on Monday, November 11th. TheStreet raised shares of Virtusa from a c+ rating to a b- rating in a report on Thursday, November 21st. Zacks Investment Research reissued a hold rating on shares of Virtusa in a report on Saturday, October 12th. JPMorgan Chase & Co. boosted their price objective on shares of Virtusa from $51.00 to $55.00 and gave the company an overweight rating in a report on Wednesday, December 18th. Finally, Needham & Company LLC lowered shares of Virtusa from a strong-buy rating to a buy rating and dropped their price objective for the company from $50.00 to $48.00 in a report on Tuesday, September 10th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Virtusa has an average rating of Buy and a consensus target price of $53.14.

NASDAQ VRTU traded up $0.31 on Monday, hitting $41.87. The stock had a trading volume of 4,555 shares, compared to its average volume of 304,900. The business’s fifty day moving average price is $44.63 and its 200 day moving average price is $40.81. The company has a debt-to-equity ratio of 1.04, a current ratio of 2.65 and a quick ratio of 2.65. Virtusa has a 52-week low of $31.99 and a 52-week high of $57.00. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 28.68, a price-to-earnings-growth ratio of 1.12 and a beta of 1.27.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Thursday, November 7th. The information technology services provider reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.20. The business had revenue of $328.50 million for the quarter, compared to analyst estimates of $327.07 million. Virtusa had a net margin of 2.63% and a return on equity of 11.76%. As a group, sell-side analysts anticipate that Virtusa will post 2.06 EPS for the current year.

In other Virtusa news, EVP Thomas R. Holler sold 10,525 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $42.99, for a total value of $452,469.75. Following the sale, the executive vice president now directly owns 82,743 shares of the company’s stock, valued at $3,557,121.57. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Sundararajan Narayanan sold 613 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $45.34, for a total transaction of $27,793.42. Following the completion of the sale, the executive vice president now directly owns 96,703 shares in the company, valued at $4,384,514.02. The disclosure for this sale can be found here. Insiders have sold 57,035 shares of company stock worth $2,401,303 over the last three months. Corporate insiders own 4.73% of the company’s stock.

A number of large investors have recently bought and sold shares of VRTU. Tower Research Capital LLC TRC boosted its holdings in 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 valued at $29,000 after purchasing an additional 607 shares during the last quarter. Oppenheimer Asset Management Inc. raised its position 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 acquiring an additional 390 shares during the period. Quantamental Technologies LLC acquired a new position in shares of Virtusa in the second quarter worth about $79,000. Jefferies Group LLC acquired a new position in shares of Virtusa in the second quarter worth about $237,000. Finally, Trexquant Investment LP raised its position in shares of Virtusa by 26.0% during the 2nd quarter. Trexquant Investment LP now owns 5,466 shares of the information technology services provider’s stock worth $243,000 after purchasing an additional 1,129 shares during the last quarter. 86.08% of the stock is currently owned by 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.

Featured Story: Buy Rating

Analyst Recommendations for Virtusa (NASDAQ:VRTU)

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.