Insider Selling: Virtusa Corporation (VRTU) Insider Sells $152,990.25 in Stock
Virtusa Corporation (NASDAQ:VRTU) insider Raj Rajgopal sold 4,025 shares of the stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $38.01, for a total value of $152,990.25. Following the completion of the transaction, the insider now directly owns 108,576 shares in the company, valued at approximately $4,126,973.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Raj Rajgopal also recently made the following trade(s):
- On Friday, September 1st, Raj Rajgopal sold 4,025 shares of Virtusa Corporation stock. The shares were sold at an average price of $36.05, for a total value of $145,101.25.
- On Friday, August 11th, Raj Rajgopal sold 27,526 shares of Virtusa Corporation stock. The shares were sold at an average price of $34.76, for a total value of $956,803.76.
Virtusa Corporation (VRTU) opened at 38.16 on Friday. Virtusa Corporation has a one year low of $18.03 and a one year high of $38.31. The firm’s 50 day moving average price is $36.28 and its 200 day moving average price is $31.94. The stock has a market cap of $1.12 billion, a price-to-earnings ratio of 55.22 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, topping 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 company had revenue of $227.30 million during the quarter, compared to analyst estimates of $224.46 million. During the same period in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 10.6% compared to the same quarter last year. Equities analysts forecast that Virtusa Corporation will post $1.53 earnings per share for the current year.
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Hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Virtusa Corporation by 120,287.9% during the first quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock valued at $100,993,000 after purchasing an additional 3,339,191 shares during the last quarter. CNA Financial Corp lifted its stake in Virtusa Corporation by 91.9% during the first quarter. CNA Financial Corp now owns 16,933 shares of the information technology services provider’s stock valued at $512,000 after purchasing an additional 8,108 shares during the last quarter. Morgan Stanley lifted its stake in Virtusa Corporation by 548.1% during the first quarter. Morgan Stanley now owns 560,515 shares of the information technology services provider’s stock valued at $16,938,000 after purchasing an additional 474,032 shares during the last quarter. Russell Investments Group Ltd. lifted its stake in Virtusa Corporation by 5.0% during the second quarter. Russell Investments Group Ltd. now owns 213,010 shares of the information technology services provider’s stock valued at $6,263,000 after purchasing an additional 10,220 shares during the last quarter. Finally, Unterberg Capital LLC acquired a new stake in Virtusa Corporation during the second quarter valued at approximately $2,940,000. 92.06% of the stock is owned by institutional investors and hedge funds.
Several research firms recently commented on VRTU. Zacks Investment Research lowered Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 15th. Needham & Company LLC reissued a “buy” rating and issued a $43.00 target price (up previously from $38.00) on shares of Virtusa Corporation in a report on Saturday, August 19th. Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 target price on shares of Virtusa Corporation in a report on Friday, August 11th. Cowen and Company reissued a “buy” rating and issued a $36.00 target price on shares of Virtusa Corporation in a report on Friday, July 28th. Finally, BidaskClub raised Virtusa Corporation from a “buy” rating to a “strong-buy” rating in a report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $37.00.
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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