Intrinsic value of Virtusa - VRTU

Previous Close

$42.37

  Intrinsic Value

$274.07

stock screener

  Rating & Target

str. buy

+547%

Previous close

$42.37

 
Intrinsic value

$274.07

 
Up/down potential

+547%

 
Rating

str. buy

We calculate the intrinsic value of VRTU stock by summing up the current values of future distributable cash flows generated by the company and dividing the sum by the number of outstanding shares. As such, the intrinsic value calculation depends entirely on projections. The more accurate your projections of the company's performance are - the more reliable is the intrinsic value calculation result. Please make sure to check the stock valuation input data below and adjust it if necessary. The quality of the output (intrinsic valuation result) is only as good as the quality of the input. See also DISCLAIMERS.

STOCK VALUATION INPUT DATA

Revenue (in 0001), $M
Initial revenue growth rate, %
Terminal revenue growth rate, %
Revenue decline factor
Initial discount rate, %
Discount rate multiplier
Variable cost ratio, %
Fixed operating expenses, $M
Interest rate on debt, %
Effective corporate tax rate, %
Production assets / Revenue, %
Life of production assets, yrs
Working capital / Revenue, %
Revenue / Adjusted assets
Adjusted equity ratio
Cash flow adjustment, % of Revenue
Book value of equity, $M
Shares outstanding, mln
Market capitalization, $bln 1.3

 

FINANCIAL STATEMENTS FORECAST and PRESENT VALUE CALCULATION

Fiscal year
   2
   3
   4
   5
   6
   7
   8
   9
   10
   11
   12
   13
   14
   15
   16
   17
   18
   19
   20
   21
   22
   23
   24
   25
   26
   27
   28
   29
   30
   31

INCOME STATEMENT

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Revenue growth rate, %
  32.00
  29.30
  26.87
  24.68
  22.71
  20.94
  19.35
  17.91
  16.62
  15.46
  14.41
  13.47
  12.63
  11.86
  11.18
  10.56
  10.00
  9.50
  9.05
  8.65
  8.28
  7.95
  7.66
  7.39
  7.15
  6.94
  6.74
  6.57
  6.41
  6.27
Revenue, $m
  1,347
  1,742
  2,210
  2,756
  3,382
  4,090
  4,881
  5,756
  6,712
  7,750
  8,867
  10,062
  11,332
  12,676
  14,093
  15,581
  17,140
  18,769
  20,468
  22,238
  24,080
  25,995
  27,986
  30,055
  32,205
  34,439
  36,762
  39,177
  41,690
  44,305
Variable operating expenses, $m
  1,100
  1,411
  1,780
  2,209
  2,702
  3,260
  3,883
  4,572
  5,325
  6,142
  6,983
  7,923
  8,924
  9,982
  11,098
  12,270
  13,497
  14,780
  16,118
  17,512
  18,962
  20,470
  22,038
  23,667
  25,360
  27,120
  28,949
  30,851
  32,830
  34,889
Fixed operating expenses, $m
  137
  140
  143
  146
  149
  153
  156
  159
  163
  167
  170
  174
  178
  182
  186
  190
  194
  198
  203
  207
  212
  216
  221
  226
  231
  236
  241
  246
  252
  257
Total operating expenses, $m
  1,237
  1,551
  1,923
  2,355
  2,851
  3,413
  4,039
  4,731
  5,488
  6,309
  7,153
  8,097
  9,102
  10,164
  11,284
  12,460
  13,691
  14,978
  16,321
  17,719
  19,174
  20,686
  22,259
  23,893
  25,591
  27,356
  29,190
  31,097
  33,082
  35,146
Operating income, $m
  110
  191
  287
  400
  530
  677
  842
  1,024
  1,224
  1,441
  1,714
  1,964
  2,231
  2,512
  2,809
  3,122
  3,449
  3,791
  4,147
  4,519
  4,906
  5,308
  5,727
  6,162
  6,614
  7,083
  7,572
  8,080
  8,608
  9,159
EBITDA, $m
  172
  260
  364
  487
  627
  786
  965
  1,162
  1,378
  1,613
  1,866
  2,136
  2,424
  2,729
  3,050
  3,388
  3,741
  4,111
  4,497
  4,899
  5,317
  5,752
  6,205
  6,675
  7,163
  7,671
  8,200
  8,749
  9,320
  9,915
Interest expense (income), $m
  7
  16
  28
  42
  59
  79
  101
  127
  156
  187
  222
  259
  300
  343
  389
  437
  488
  542
  598
  657
  718
  782
  849
  918
  990
  1,065
  1,142
  1,223
  1,307
  1,394
  1,485
Earnings before tax, $m
  94
  163
  245
  341
  451
  576
  715
  869
  1,037
  1,219
  1,455
  1,665
  1,888
  2,124
  2,372
  2,633
  2,907
  3,192
  3,490
  3,801
  4,124
  4,460
  4,809
  5,172
  5,549
  5,941
  6,349
  6,773
  7,214
  7,674
Tax expense, $m
  25
  44
  66
  92
  122
  155
  193
  235
  280
  329
  393
  450
  510
  573
  641
  711
  785
  862
  942
  1,026
  1,113
  1,204
  1,298
  1,396
  1,498
  1,604
  1,714
  1,829
  1,948
  2,072
Net income, $m
  69
  119
  179
  249
  329
  420
  522
  634
  757
  890
  1,062
  1,215
  1,378
  1,550
  1,732
  1,922
  2,122
  2,330
  2,548
  2,774
  3,010
  3,255
  3,510
  3,775
  4,051
  4,337
  4,635
  4,944
  5,266
  5,602

BALANCE SHEET

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Cash and short-term investments, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Total assets, $m
  1,421
  1,838
  2,331
  2,907
  3,567
  4,314
  5,149
  6,071
  7,080
  8,175
  9,353
  10,614
  11,954
  13,372
  14,866
  16,436
  18,080
  19,798
  21,591
  23,458
  25,400
  27,421
  29,521
  31,703
  33,971
  36,329
  38,779
  41,326
  43,977
  46,735
Adjusted assets (=assets-cash), $m
  1,421
  1,838
  2,331
  2,907
  3,567
  4,314
  5,149
  6,071
  7,080
  8,175
  9,353
  10,614
  11,954
  13,372
  14,866
  16,436
  18,080
  19,798
  21,591
  23,458
  25,400
  27,421
  29,521
  31,703
  33,971
  36,329
  38,779
  41,326
  43,977
  46,735
Revenue / Adjusted assets
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
  0.948
Average production assets, $m
  377
  488
  619
  772
  947
  1,145
  1,367
  1,612
  1,879
  2,170
  2,483
  2,817
  3,173
  3,549
  3,946
  4,363
  4,799
  5,255
  5,731
  6,227
  6,742
  7,279
  7,836
  8,415
  9,017
  9,643
  10,293
  10,970
  11,673
  12,405
Working capital, $m
  136
  176
  223
  278
  342
  413
  493
  581
  678
  783
  896
  1,016
  1,145
  1,280
  1,423
  1,574
  1,731
  1,896
  2,067
  2,246
  2,432
  2,625
  2,827
  3,036
  3,253
  3,478
  3,713
  3,957
  4,211
  4,475
Total debt, $m
  518
  782
  1,095
  1,459
  1,878
  2,352
  2,881
  3,466
  4,105
  4,799
  5,547
  6,346
  7,195
  8,094
  9,042
  10,037
  11,079
  12,169
  13,305
  14,489
  15,720
  17,001
  18,333
  19,716
  21,154
  22,649
  24,202
  25,817
  27,498
  29,246
Total liabilities, $m
  901
  1,165
  1,478
  1,843
  2,262
  2,735
  3,264
  3,849
  4,489
  5,183
  5,930
  6,729
  7,579
  8,478
  9,425
  10,420
  11,463
  12,552
  13,688
  14,872
  16,104
  17,385
  18,716
  20,100
  21,538
  23,032
  24,586
  26,201
  27,881
  29,630
Total equity, $m
  520
  673
  853
  1,064
  1,306
  1,579
  1,884
  2,222
  2,591
  2,992
  3,423
  3,885
  4,375
  4,894
  5,441
  6,016
  6,617
  7,246
  7,902
  8,585
  9,297
  10,036
  10,805
  11,603
  12,434
  13,296
  14,193
  15,125
  16,095
  17,105
Total liabilities and equity, $m
  1,421
  1,838
  2,331
  2,907
  3,568
  4,314
  5,148
  6,071
  7,080
  8,175
  9,353
  10,614
  11,954
  13,372
  14,866
  16,436
  18,080
  19,798
  21,590
  23,457
  25,401
  27,421
  29,521
  31,703
  33,972
  36,328
  38,779
  41,326
  43,976
  46,735
Debt-to-equity ratio
  0.990
  1.160
  1.280
  1.370
  1.440
  1.490
  1.530
  1.560
  1.580
  1.600
  1.620
  1.630
  1.640
  1.650
  1.660
  1.670
  1.670
  1.680
  1.680
  1.690
  1.690
  1.690
  1.700
  1.700
  1.700
  1.700
  1.710
  1.710
  1.710
  1.710
Adjusted equity ratio
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366
  0.366

CASH FLOW

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net income, $m
  69
  119
  179
  249
  329
  420
  522
  634
  757
  890
  1,062
  1,215
  1,378
  1,550
  1,732
  1,922
  2,122
  2,330
  2,548
  2,774
  3,010
  3,255
  3,510
  3,775
  4,051
  4,337
  4,635
  4,944
  5,266
  5,602
Depreciation, amort., depletion, $m
  62
  69
  77
  86
  97
  109
  123
  138
  154
  172
  151
  172
  193
  216
  241
  266
  293
  320
  349
  380
  411
  444
  478
  513
  550
  588
  628
  669
  712
  756
Funds from operations, $m
  131
  188
  256
  335
  426
  529
  645
  772
  911
  1,062
  1,214
  1,387
  1,572
  1,767
  1,972
  2,188
  2,415
  2,651
  2,897
  3,154
  3,421
  3,699
  3,988
  4,288
  4,601
  4,925
  5,262
  5,613
  5,978
  6,358
Change in working capital, $m
  33
  40
  47
  55
  63
  72
  80
  88
  97
  105
  113
  121
  128
  136
  143
  150
  157
  165
  172
  179
  186
  193
  201
  209
  217
  226
  235
  244
  254
  264
Cash from operations, $m
  98
  148
  209
  280
  363
  458
  565
  684
  814
  957
  1,101
  1,267
  1,443
  1,631
  1,829
  2,038
  2,257
  2,486
  2,726
  2,975
  3,235
  3,506
  3,787
  4,079
  4,383
  4,699
  5,028
  5,369
  5,724
  6,094
Maintenance CAPEX, $m
  -17
  -23
  -30
  -38
  -47
  -58
  -70
  -83
  -98
  -115
  -132
  -151
  -172
  -193
  -216
  -241
  -266
  -293
  -320
  -349
  -380
  -411
  -444
  -478
  -513
  -550
  -588
  -628
  -669
  -712
New CAPEX, $m
  -91
  -111
  -131
  -153
  -175
  -198
  -222
  -245
  -268
  -291
  -313
  -335
  -356
  -376
  -397
  -417
  -436
  -456
  -476
  -496
  -516
  -536
  -557
  -579
  -602
  -626
  -650
  -676
  -703
  -732
Cash from investing activities, $m
  -108
  -134
  -161
  -191
  -222
  -256
  -292
  -328
  -366
  -406
  -445
  -486
  -528
  -569
  -613
  -658
  -702
  -749
  -796
  -845
  -896
  -947
  -1,001
  -1,057
  -1,115
  -1,176
  -1,238
  -1,304
  -1,372
  -1,444
Free cash flow, $m
  -11
  15
  48
  90
  141
  202
  273
  355
  448
  552
  656
  781
  916
  1,061
  1,216
  1,381
  1,555
  1,738
  1,930
  2,130
  2,340
  2,558
  2,786
  3,022
  3,268
  3,524
  3,789
  4,065
  4,352
  4,650
Issuance/(repayment) of debt, $m
  218
  264
  313
  365
  419
  474
  529
  585
  640
  694
  747
  799
  850
  899
  948
  995
  1,042
  1,089
  1,136
  1,184
  1,232
  1,281
  1,331
  1,384
  1,438
  1,494
  1,553
  1,615
  1,680
  1,749
Issuance/(repurchase) of shares, $m
  57
  33
  2
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash from financing (excl. dividends), $m  
  275
  297
  315
  365
  419
  474
  529
  585
  640
  694
  747
  799
  850
  899
  948
  995
  1,042
  1,089
  1,136
  1,184
  1,232
  1,281
  1,331
  1,384
  1,438
  1,494
  1,553
  1,615
  1,680
  1,749
Total cash flow (excl. dividends), $m
  265
  312
  363
  455
  559
  676
  803
  940
  1,088
  1,246
  1,403
  1,580
  1,765
  1,960
  2,164
  2,376
  2,597
  2,827
  3,066
  3,314
  3,572
  3,839
  4,117
  4,406
  4,706
  5,018
  5,343
  5,681
  6,032
  6,399
Retained Cash Flow (-), $m
  -126
  -152
  -181
  -211
  -242
  -273
  -306
  -338
  -369
  -401
  -431
  -461
  -490
  -519
  -547
  -575
  -602
  -629
  -656
  -683
  -711
  -739
  -769
  -799
  -830
  -863
  -897
  -932
  -970
  -1,009
Prev. year cash balance distribution, $m
  24
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash flow adjustment, $m
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
  0
Cash available for distribution, $m
  163
  160
  182
  244
  318
  402
  497
  603
  719
  845
  971
  1,118
  1,275
  1,441
  1,617
  1,802
  1,995
  2,198
  2,410
  2,631
  2,861
  3,100
  3,349
  3,607
  3,876
  4,155
  4,446
  4,748
  5,062
  5,389
Discount rate, %
  4.30
  4.52
  4.74
  4.98
  5.23
  5.49
  5.76
  6.05
  6.35
  6.67
  7.00
  7.35
  7.72
  8.11
  8.51
  8.94
  9.39
  9.86
  10.35
  10.87
  11.41
  11.98
  12.58
  13.21
  13.87
  14.56
  15.29
  16.05
  16.86
  17.70
PV of cash for distribution, $m
  156
  146
  158
  201
  246
  292
  336
  377
  413
  443
  461
  477
  485
  484
  475
  458
  434
  405
  371
  334
  296
  257
  219
  184
  151
  121
  95
  73
  55
  41
Current shareholders' claim on cash, %
  95.4
  93.4
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3
  93.3

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. Its 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. It delivers solutions through a global delivery model, applying advanced methods, such as Agile, a technique designed to accelerate application development. The Company uses its consulting methodology, Accelerated Solution Design (ASD). It supports the Chief Information Officers (CIOs) of its client organizations in solving their critical issues, including managing total cost of ownership, accelerating time-to-market and increasing productivity.

FINANCIAL RATIOS  of  Virtusa (VRTU)

Valuation Ratios
P/E Ratio 105.6
Price to Sales 1.5
Price to Book 2.5
Price to Tangible Book
Price to Cash Flow 57.6
Price to Free Cash Flow 181
Growth Rates
Sales Growth Rate 43.2%
Sales - 3 Yr. Growth Rate %
EPS Growth Rate %
EPS - 3 Yr. Growth Rate %
Capital Spending Gr. Rate 15.4%
Cap. Spend. - 3 Yr. Gr. Rate 16.5%
Financial Strength
Quick Ratio 24
Current Ratio 0.2
LT Debt to Equity 35.6%
Total Debt to Equity 37.4%
Interest Coverage 4
Management Effectiveness
Return On Assets 1.9%
Ret/ On Assets - 3 Yr. Avg. 5.6%
Return On Total Capital 1.8%
Ret/ On T. Cap. - 3 Yr. Avg. 6.8%
Return On Equity 2.5%
Return On Equity - 3 Yr. Avg. 7.7%
Asset Turnover 0.9
Profitability Ratios
Gross Margin 27.7%
Gross Margin - 3 Yr. Avg. 33.1%
EBITDA Margin 6.1%
EBITDA Margin - 3 Yr. Avg. 11.1%
Operating Margin 2.2%
Oper. Margin - 3 Yr. Avg. 6.9%
Pre-Tax Margin 2.2%
Pre-Tax Margin - 3 Yr. Avg. 7.9%
Net Profit Margin 1.4%
Net Profit Margin - 3 Yr. Avg. 5.9%
Effective Tax Rate 15.8%
Eff/ Tax Rate - 3 Yr. Avg. 21.5%
Payout Ratio 0%

VRTU stock valuation input parameters

Revenue. Company's revenue (or sales) is always the starting point of any cash flow forecast. In the VRTU stock intrinsic value calculation we used $1020.669 million for the last fiscal year's total revenue generated by Virtusa. The default revenue input number comes from 0001 income statement of Virtusa. You may change it if you feel that it should be adjusted for some unusual circumstances that are not expected to be repeated in the future or if you already know (from interim financial statements, for example) that this year's revenue is going to be quite different.

Revenue growth rate. Forecasted future revenue growth rate is the most important input parameter for the intrinsic value calculation. Unlike other input parameters that are reasonably expected to be in line with their historic averages or their historic trends, the revenue growth rate by and large is a wild card: nobody really knows what the company's revenue will be in the future. Of course, the level of unpredictability is different for different industries (utility companies being the most predictable and, thus, less risky).
    We use three input parameters to forecast the revenue growth rate in our VRTU stock valuation model: a) initial revenue growth rate of 32% whose default value is the revenue growth rate in the most recent quarter compared to the quarterly revenue a year ago; b) terminal revenue growth rate of 5% whose default value is chosen to be close to the average nominal (i.e. not adjusted for inflation) GDP growth rate; and c) revenue decline factor of 0.9, which stipulates that revenue growth rate in each forecasted year will be equal to the difference of the revenue growth rate in the preceding year and the terminal revenue growth rate multiplied by this revenue decline factor (with the passage of time the revenue growth rate will be approaching the terminal revenue growth rate, but not quite reaching it - though the difference could be infinitesimally small).
    At the revenue decline factor of 1, the future revenue growth rate is forecasted to be constant and equal to the initial revenue growth rate. The smaller the revenue decline factor, the faster the revenue growth rate will approach the terminal revenue growth.

Discount rate. The discount rate is used for determining the present value of future cash flows: future cash flows are "discounted" as at normal conditions (that translate into positive expected return on investment) one dollar today is worth more than the same dollar in the future. Unlike all other valuation models, we use variable discount rate, i.e. it increases for each consecutive year. This is done to account for higher risk of cash flows coming in further in the future.
    The initial discount rate of 4.3%, whose default value for VRTU is calculated based on our internal credit rating of Virtusa, is applied to the cash flow expected to be received a year from now (well, actually, to be precise, in the financial year following the base year - the last year for which we have financial statements). For each consecutive year the discount rate is multiplied by the discount rate multiplier of 1.05, e.i. each year it increases by 5%. Feel free to change this number to correspond to your level of risk assessment of Virtusa.
    By the way, it is easy to set the discount rate to be constant (this would make comparison with other valuation models easier): just set the discount rate multiplier equal to 1 and chose the magnitude of the initial discount rate to your liking.

Variable cost ratio is the ratio of variable costs (i.e. costs that fluctuate with fluctuation of the volume of production) to the revenue expressed as a percentage. In the calculation of intrinsic value of VRTU stock the variable cost ratio is equal to 82.6%.

Fixed operating expenses is just that - expenses that are not dependant on the volume of production. They are set to $134 million in the base year in the intrinsic value calculation for VRTU stock. These expenses increase with the level of inflation in subsequent years.

Interest rate on debt is the average all-in rate of interest paid by the company on its debt. It is set at 5.4% for Virtusa.

Corporate tax rate of 27% is the nominal tax rate for Virtusa. In reality, companies find ways to pay much less taxes than that or not to pay them at all.

Cash flow adjustment could be used for any adjustment the investor deems necessary. Most commonly we use this field to account for stock options-related effects in excess of what is reported on the company's income statement. The cash flow adjustment is expressed as a percentage of the revenue, and in the current valuation of the VRTU stock is equal to 0%.

Production assets are the company's assets used for manufacturing products or provision of services. In the valuation model input table they are expressed as a percentage of revenue and for VRTU are equal to 28%.

Life of production assets of 16.4 years is the average useful life of capital assets used in Virtusa operations. It is used to calculate yearly capital expenditures needed to keep these assets in good order - we call it the maintenance CAPEX.

Working capital is the difference between the company's current assets and liabilities. In the model we use the ratio of working capital to revenue, which for VRTU is equal to 10.1%. A negative number means that the company is apt at using financial resources of its suppliers and customers; a large positive number, on the other hand, means that it either provides in-kind financing to others or is not good at managing its inventories.

Book value of equity - $418.623 million for Virtusa - is used in calculation of the "floor" for intrinsic valuation based on the discounted cash flow (DCF) method. Even if the prospects are very bad for a company, its assets could always be sold now for their current fair market value.

Shares outstanding of 29.741 million for Virtusa is needed to calculate the intrinsic value of one share.

Market capitalization is used here only for reference purposes and as a quick check that the share price and the number of shares outstanding numbers are correct - something especially to be cognizant about at stock splits. So, the market capitalization of Virtusa at the current share price and the inputted number of shares is $1.3 billion.

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COMPANY NEWS

▶ Virtusa: Fiscal 2Q Earnings Snapshot   [05:31PM  Associated Press]
▶ Virtusa Opens Innovation Center in Indianapolis   [Sep-13-18 10:00AM  Business Wire]
▶ Virtusa: Fiscal 1Q Earnings Snapshot   [Aug-08-18 07:17PM  Associated Press]
▶ 5 Hot Tech ETFs and Stocks Leading the Market Rally   [Jul-26-18 02:06PM  InvestorPlace]
▶ Virtusa Launches Innovation Lab for Pegasystems Solutions   [May-29-18 10:00AM  Business Wire]
▶ Stock Upgrades: Virtusa Shows Rising Relative Strength   [03:00AM  Investor's Business Daily]
▶ Virtusa: Fiscal 4Q Earnings Snapshot   [May-15-18 07:05AM  Associated Press]
▶ Cboe's 'Best Quarter Ever' Doesn't Impress Investors   [May-04-18 12:08PM  The Wall Street Journal]
▶ Virtusa Is In an Uptrend: My Strategy From the Charts   [Feb-23-18 07:58AM  TheStreet.com]
▶ Virtusa reports 3Q loss   [06:15AM  Associated Press]
▶ Virtusa Corp.: Strong price momentum but will it sustain?   [Nov-09-17 11:19AM  Capital Cube]
▶ Virtusa misses 2Q profit forecasts   [07:22AM  Associated Press]
▶ ETFs with exposure to Virtusa Corp. : October 9, 2017   [Oct-09-17 12:10PM  Capital Cube]
▶ ETFs with exposure to Virtusa Corp. : September 26, 2017   [Sep-26-17 11:08AM  Capital Cube]
▶ Virtusa Named a Top 15 Sourcing Service Provider by ISG   [Sep-19-17 10:00AM  Business Wire]
▶ Virtusa misses 1Q profit forecasts   [Aug-08-17 04:56PM  Associated Press]
▶ Virtusa misses 1Q profit forecasts   [06:45AM  Associated Press]

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