Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne Sells 7,500 Shares

Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 7,500 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $44.53, for a total transaction of $333,975.00. Following the sale, the chief executive officer now directly owns 706,748 shares of the company’s stock, valued at approximately $31,471,488.44. The transaction was disclosed in a filing with the SEC, which is accessible through this link.

VRTU stock opened at $44.42 on Wednesday. The firm has a market cap of $1.35 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 1.21 and a beta of 1.26. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.65 and a current ratio of 2.65. Virtusa Co. has a 1 year low of $31.99 and a 1 year high of $57.00. The stock has a 50-day simple moving average of $40.33 and a 200-day simple moving average of $40.59.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Thursday, November 7th. The information technology services provider reported $0.54 EPS for the quarter, topping the consensus estimate of $0.34 by $0.20. The firm had revenue of $328.50 million for the quarter, compared to analyst estimates of $327.07 million. Virtusa had a return on equity of 11.76% and a net margin of 2.63%. On average, equities research analysts predict that Virtusa Co. will post 2.06 EPS for the current year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. Swiss National Bank increased its position in Virtusa by 2.1% during the second quarter. Swiss National Bank now owns 52,900 shares of the information technology services provider’s stock worth $2,350,000 after buying an additional 1,100 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Virtusa by 59.0% during the 2nd quarter. Acadian Asset Management LLC now owns 11,755 shares of the information technology services provider’s stock worth $521,000 after acquiring an additional 4,364 shares in the last quarter. Commerce Bank boosted its stake in shares of Virtusa by 37.9% during the 2nd quarter. Commerce Bank now owns 13,700 shares of the information technology services provider’s stock worth $608,000 after acquiring an additional 3,765 shares in the last quarter. Marshall Wace North America L.P. increased its holdings in shares of Virtusa by 81.6% during the 2nd quarter. Marshall Wace North America L.P. now owns 17,955 shares of the information technology services provider’s stock valued at $797,000 after acquiring an additional 8,069 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Virtusa by 948.2% during the 2nd quarter. Morgan Stanley now owns 153,502 shares of the information technology services provider’s stock valued at $6,820,000 after acquiring an additional 138,858 shares during the last quarter. Institutional investors own 86.02% of the company’s stock.

VRTU has been the topic of several research reports. Needham & Company LLC lowered shares of Virtusa from a “strong-buy” rating to a “buy” rating and cut their price target for the company from $50.00 to $48.00 in a report on Tuesday, September 10th. ValuEngine downgraded shares of Virtusa from a “buy” rating to a “hold” rating in a research note on Saturday, August 10th. TheStreet raised shares of Virtusa from a “c+” rating to a “b-” rating in a research report on Thursday, November 21st. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Wednesday, November 27th. Finally, Barrington Research reissued a “buy” rating and issued a $60.00 target price on shares of Virtusa in a research note on Monday, November 11th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $53.50.

Virtusa Company Profile

Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

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