Kris A. Canekeratne Sells 11,211 Shares of Virtusa Corporation (VRTU) Stock
Virtusa Corporation (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 11,211 shares of the business’s stock in a transaction on Monday, September 25th. The stock was sold at an average price of $36.46, for a total transaction of $408,753.06. Following the completion of the transaction, the chief executive officer now owns 589,491 shares in the company, valued at approximately $21,492,841.86. The sale was disclosed in a legal filing with the SEC, which is available through this link.
Shares of Virtusa Corporation (NASDAQ VRTU) opened at 38.01 on Thursday. Virtusa Corporation has a 52 week low of $18.03 and a 52 week high of $38.31. The stock has a 50 day moving average of $35.27 and a 200-day moving average of $31.48. The firm has a market cap of $1.11 billion, a price-to-earnings ratio of 55.01 and a beta of 1.67.
Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.16 by $0.09. Virtusa Corporation had a net margin of 2.47% and a return on equity of 4.26%. The firm had revenue of $227.30 million during the quarter, compared to the consensus estimate of $224.46 million. During the same period in the prior year, the firm earned $0.18 EPS. The business’s revenue was up 10.6% on a year-over-year basis. Equities research analysts expect that Virtusa Corporation will post $1.53 earnings per share for the current year.
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VRTU has been the topic of a number of recent analyst reports. Cowen and Company restated a “buy” rating and issued a $36.00 target price on shares of Virtusa Corporation in a research note on Friday, July 28th. Zacks Investment Research lowered shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. BidaskClub upgraded shares of Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, July 25th. Needham & Company LLC restated a “buy” rating and issued a $43.00 target price (up previously from $38.00) on shares of Virtusa Corporation in a research note on Saturday, August 19th. Finally, Cantor Fitzgerald restated a “buy” rating and issued a $37.00 target price on shares of Virtusa Corporation in a research note on Friday, August 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Virtusa Corporation has an average rating of “Buy” and a consensus target price of $37.00.
A number of institutional investors have recently modified their holdings of the business. US Bancorp DE lifted its holdings in shares of Virtusa Corporation by 10.3% during the 2nd quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after acquiring an additional 327 shares during the period. SG Americas Securities LLC bought a new position in shares of Virtusa Corporation during the 2nd quarter worth about $120,000. State of Alaska Department of Revenue lifted its holdings in shares of Virtusa Corporation by 79.9% during the 2nd quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock worth $160,000 after acquiring an additional 2,430 shares during the period. BNP Paribas Arbitrage SA lifted its holdings in shares of Virtusa Corporation by 9.2% during the 1st quarter. BNP Paribas Arbitrage SA now owns 6,166 shares of the information technology services provider’s stock worth $186,000 after acquiring an additional 522 shares during the period. Finally, Municipal Employees Retirement System of Michigan lifted its holdings in shares of Virtusa Corporation by 4.2% during the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 6,510 shares of the information technology services provider’s stock worth $191,000 after acquiring an additional 260 shares during the period. 92.06% of the stock is owned by hedge funds and other institutional investors.
About Virtusa Corporation
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.
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