The Virtusa Co. (VRTU) Issues FY18 Earnings Guidance

The Virtusa Co. (VRTU) Issues FY18 Earnings Guidance

Several analysts recently commented on the company. Maxim Group reaffirmed a hold rating on shares of Virtusa in a research note on Tuesday, May 16th. Wedbush boosted their price target on Virtusa from $35.00 to $40.00 and gave the company an outperform rating in a research note on Friday, March 3rd. Needham & Company LLC boosted their price target on Virtusa from $32.00 to $38.00 and gave the company a buy rating in a research note on Wednesday, March 1st. Cowen and Company raised Virtusa from a market perform rating to an outperform rating and set a $38.00 price target on the stock in a research note on Friday, March 24th. Finally, Barrington Research set a $35.00 price objective on Virtusa and gave the stock a buy rating in a research note on Thursday, May 25th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Virtusa presently has an average rating of Buy and a consensus target price of $34.43.

Virtusa Co. (NASDAQ:VRTU) updated its FY18 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $1.42-1.66 for the period, compared to the Thomson Reuters consensus estimate of $1.84. The company issued revenue guidance of $920-950 million, compared to the consensus revenue estimate of $934.21 million.Virtusa also updated its Q1 guidance to $0.24-0.30 EPS.

Virtusa Co. (VRTU) opened at 28.24 on Monday. The stock’s 50 day moving average price is $29.78 and its 200 day moving average price is $27.63. The firm has a market cap of $850.56 million, a price-to-earnings ratio of 72.41 and a beta of 1.42. Virtusa Co. has a 52 week low of $18.03 and a 52 week high of $35.58.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 1.70% and a return on equity of 4.32%. The business had revenue of $226 million for the quarter, compared to analysts’ expectations of $226.67 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 31.5% on a year-over-year basis. On average, equities research analysts predict that Virtusa Co. will post $1.54 EPS for the current year. In other news, EVP Thomas R. Holler sold 29,873 shares of the stock in a transaction dated Friday, May 19th. The shares were sold at an average price of $28.00, for a total transaction of $836,444.00. Following the completion of the sale, the executive vice president now directly owns 45,716 shares in the company, valued at $1,280,048. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Roger Keith Modder sold 24,242 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $29.10, for a total transaction of $705,442.20. Following the sale, the chief operating officer now owns 191,423 shares of the company’s stock, valued at $5,570,409.30. The disclosure for this sale can be found here. Corporate insiders own 9.92% of the company’s stock.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.45 by $0.02. Virtusa had a net margin of 1.70% and a return on equity of 4.32%. The business had revenue of $226 million for the quarter, compared to analysts’ expectations of $226.67 million. During the same quarter in the previous year, the company earned $0.55 earnings per share. The business’s quarterly revenue was up 31.5% on a year-over-year basis. On average, equities research analysts predict that Virtusa Co. will post $1.54 EPS for the current year. A number of hedge funds have recently modified their holdings of the company. Teachers Advisors LLC raised its stake in shares of Virtusa by 4.0% in the first quarter. Teachers Advisors LLC now owns 47,470 shares of the information technology services provider’s stock valued at $1,435,000 after buying an additional 1,818 shares during the period. Bank of America Corp DE raised its stake in shares of Virtusa by 75.9% in the first quarter. Bank of America Corp DE now owns 50,568 shares of the information technology services provider’s stock valued at $1,528,000 after buying an additional 21,823 shares during the period. Schwab Charles Investment Management Inc. raised its stake in shares of Virtusa by 6.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 117,027 shares of the information technology services provider’s stock valued at $3,537,000 after buying an additional 6,579 shares during the period. Finally, State Street Corp raised its stake in shares of Virtusa by 5.2% in the first quarter. State Street Corp now owns 646,579 shares of the information technology services provider’s stock valued at $19,539,000 after buying an additional 32,045 shares during the period. Institutional investors and hedge funds own 93.20% of the company’s stock.

About Virtusa 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “NASDAQ:VRTU”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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