Zacks: Analysts AwaitVirtusa Co. (VRTU) Will Announce Quarterly Sales of $225.37 Million

Zacks: Analysts AwaitVirtusa Co. (VRTU) Will Announce Quarterly Sales of $225.37 Million

Equities research analysts predict that Virtusa Co. (NASDAQ:VRTU) will announce $225.37 million in sales for the current fiscal quarter, Zacks Investment Research reports. Five analysts have issued estimates for Virtusa’s earnings. The lowest sales estimate is $224.15 million and the highest is $227.05 million. Virtusa reported sales of $205.47 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The company is expected to announce its next quarterly earnings report on Tuesday, August 8th.

According to Zacks, analysts expect that Virtusa will report full year sales of $225.37 million for the current financial year, with estimates ranging from $933.19 million to $944.11 million. For the next financial year, analysts forecast that the business will post sales of $1.02 billion per share, with estimates ranging from $1.01 billion to $1.03 billion. Zacks’ sales averages are an average based on a survey of research firms that cover Virtusa.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Tuesday, May 16th. The information technology services provider reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.45 by $0.02. The firm had revenue of $226 million during the quarter, compared to analyst estimates of $226.67 million. Virtusa had a net margin of 1.70% and a return on equity of 4.32%. The business’s quarterly revenue was up 31.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.55 EPS.

A number of analysts have recently issued reports on VRTU shares. Maxim Group lowered shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Thursday, March 9th. Needham & Company LLC increased their price target on shares of Virtusa from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, February 9th. Barrington Research set a $35.00 price target on shares of Virtusa and gave the stock a “buy” rating in a research report on Thursday, May 25th. Cowen and Company raised shares of Virtusa from a “market perform” rating to an “outperform” rating and set a $38.00 price target for the company in a research report on Friday, March 24th. Finally, Zacks Investment Research raised shares of Virtusa from a “sell” rating to a “hold” rating in a research report on Saturday, February 18th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $34.43.

Virtusa (NASDAQ:VRTU) traded down 3.78% during trading on Thursday, hitting $28.24. 500,550 shares of the stock were exchanged. The stock’s 50-day moving average price is $29.78 and its 200-day moving average price is $27.63. Virtusa has a 12-month low of $18.03 and a 12-month high of $35.58. The firm has a market cap of $850.56 million, a PE ratio of 72.41 and a beta of 1.42.

In related news, EVP Thomas R. Holler sold 29,873 shares of the stock in a transaction that occurred on Friday, May 19th. The stock was sold at an average price of $28.00, for a total value of $836,444.00. Following the transaction, the executive vice president now owns 45,716 shares in the company, valued at $1,280,048. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO Roger Keith Modder sold 24,242 shares of the stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $29.10, for a total value of $705,442.20. Following the completion of the transaction, the chief operating officer now owns 191,423 shares in the company, valued at approximately $5,570,409.30. The disclosure for this sale can be found here. Corporate insiders own 9.92% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the company. Municipal Employees Retirement System of Michigan increased its position in Virtusa by 1.7% in the third quarter. Municipal Employees Retirement System of Michigan now owns 6,040 shares of the information technology services provider’s stock worth $149,000 after buying an additional 100 shares in the last quarter. BNP Paribas Arbitrage SA increased its position in Virtusa by 9.2% in the first quarter. BNP Paribas Arbitrage SA now owns 6,166 shares of the information technology services provider’s stock worth $186,000 after buying an additional 522 shares in the last quarter. Mason Street Advisors LLC increased its position in Virtusa by 7.0% in the first quarter. Mason Street Advisors LLC now owns 6,445 shares of the information technology services provider’s stock worth $195,000 after buying an additional 422 shares in the last quarter. Atria Investments LLC purchased a new position in Virtusa during the first quarter worth approximately $203,000. Finally, Miles Capital Inc. increased its position in Virtusa by 7.2% in the fourth quarter. Miles Capital Inc. now owns 8,865 shares of the information technology services provider’s stock worth $223,000 after buying an additional 599 shares in the last quarter. Hedge funds and other institutional investors 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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