Virtusa Corporation (VRTU) CEO Kris A. Canekeratne Sells 12,000 Shares
Virtusa Corporation (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $46.04, for a total transaction of $552,480.00. Following the completion of the transaction, the chief executive officer now owns 559,491 shares in the company, valued at $25,758,965.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Shares of Virtusa Corporation (NASDAQ:VRTU) traded down $0.51 during mid-day trading on Thursday, reaching $45.60. The company had a trading volume of 217,300 shares, compared to its average volume of 303,110. Virtusa Corporation has a 12 month low of $19.05 and a 12 month high of $48.15. The stock has a market capitalization of $1,354.04, a price-to-earnings ratio of 52.40, a price-to-earnings-growth ratio of 2.22 and a beta of 1.66. The company has a debt-to-equity ratio of 0.18, a current ratio of 4.03 and a quick ratio of 4.03.
Virtusa Corporation (NASDAQ:VRTU) last announced its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Virtusa Corporation had a return on equity of 4.86% and a net margin of 2.54%. The company had revenue of $248.20 million during the quarter, compared to analyst estimates of $237.48 million. During the same quarter last year, the firm posted $0.27 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. research analysts predict that Virtusa Corporation will post 1.04 EPS for the current year.
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Several research analysts recently weighed in on the stock. Zacks Investment Research cut shares of Virtusa Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 15th. TheStreet raised Virtusa Corporation from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. SunTrust Banks, Inc. reaffirmed a “buy” rating and issued a $52.00 target price on shares of Virtusa Corporation in a research note on Friday, November 10th. Needham & Company LLC reaffirmed a “buy” rating and issued a $38.00 target price on shares of Virtusa Corporation in a research note on Thursday, August 10th. Finally, Maxim Group reissued a “hold” rating on shares of Virtusa Corporation in a research note on Tuesday, August 8th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $43.50.
Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Virtusa Corporation by 120,287.9% in the first quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock worth $100,993,000 after purchasing an additional 3,339,191 shares in the last quarter. Citigroup Inc. raised its holdings in Virtusa Corporation by 14.4% in the second quarter. Citigroup Inc. now owns 29,400 shares of the information technology services provider’s stock worth $864,000 after purchasing an additional 3,711 shares in the last quarter. Russell Investments Group Ltd. raised its holdings in Virtusa Corporation by 5.0% in the second quarter. Russell Investments Group Ltd. now owns 213,010 shares of the information technology services provider’s stock worth $6,263,000 after purchasing an additional 10,220 shares in the last quarter. Unterberg Capital LLC bought a new position in Virtusa Corporation in the second quarter worth $2,940,000. Finally, Pier Capital LLC raised its holdings in Virtusa Corporation by 14.5% in the second quarter. Pier Capital LLC now owns 206,518 shares of the information technology services provider’s stock worth $6,072,000 after purchasing an additional 26,220 shares in the last quarter. Institutional investors and hedge funds own 91.76% of the company’s stock.
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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