Virtusa Corporation (VRTU) Releases Earnings Results, Beats Expectations By $0.03 EPS

Virtusa Corporation (VRTU) reported quarterly earnings results on Tuesday, Aug-9-2016. The company said it had a profit of $0.18 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.03. Analysts had a consensus of $0.15. The company posted revenue of $205.50 million in the period, compared to analysts expectations of $203.53 million. The company’s revenue was up 52.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.48 EPS.

Many Wall Street Analysts have commented on Virtusa Corporation. Shares were Reiterated by Maxim Group on Jun 29, 2016 to “Buy” and Lowered the Price Target to $ 42 from a previous price target of $46 .Shares were Reiterated by Barrington Research on May 17, 2016 to “Outperform” and Lowered the Price Target to $ 46 from a previous price target of $50 .Shares were Reiterated by Maxim Group on May 16, 2016 to “Buy” and Lowered the Price Target to $ 46 from a previous price target of $55 .

Virtusa Corporation closed down -0.47 points or -1.75% at $26.38 with 2,87,209 shares getting traded on Monday. Post opening the session at $26.95, the shares hit an intraday low of $26.21 and an intraday high of $27.199 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Jun 13, 2016, Rowland T Moriarty (director) purchased 15,500 shares at $33.77 per share price. According to the SEC, on Jun 2, 2016, Kris A Canekeratne (Chairman & CEO) sold 18,000 shares at $35.02 per share price. On May 20, 2016, Roger Keith Modder (EVP & COO) sold 6,500 shares at $32.43 per share price, according to the Form-4 filing with the securities and exchange commission.

Virtusa Corporation (Virtusa) is an information technology services company. The Company’s services include information technology (IT) and business consulting user experience (UX) design development of IT applications maintenance and support services systems integration infrastructure and managed services. The Company’s services enable its clients to accelerate business outcomes by consolidating rationalizing and modernizing the clients’ core customer-facing processes into one or more core systems. The Company delivers solutions through a global delivery model applying advanced methods such as Agile an industry standard technique designed to accelerate application development. The Company’s offerings include Business and Information Technology consulting services Technology implementation services Application outsourcing services Global delivery model Platforming approach Core solutions Transformational solutions and Millennial solutions.

Virtusa Corporation

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