Virtusa Corporation (VRTU) CEO Kris A. Canekeratne Sells 22,000 Shares of Stock
Virtusa Corporation (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 22,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $37.96, for a total value of $835,120.00. Following the transaction, the chief executive officer now owns 577,491 shares in the company, valued at approximately $21,921,558.36. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.
Shares of Virtusa Corporation (VRTU) opened at 37.87 on Wednesday. Virtusa Corporation has a one year low of $18.03 and a one year high of $38.31. The firm has a market cap of $1.11 billion, a P/E ratio of 54.80 and a beta of 1.67. The firm has a 50 day moving average price of $36.22 and a 200-day moving average price of $31.85.
Virtusa Corporation (NASDAQ:VRTU) last released its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $224.46 million. During the same quarter in the prior year, the firm posted $0.18 earnings per share. The business’s quarterly revenue was up 10.6% on a year-over-year basis. Analysts forecast that Virtusa Corporation will post $1.53 earnings per share for the current year.
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A number of institutional investors have recently bought and sold shares of the stock. State Street Corp grew its position in Virtusa Corporation by 4.0% during the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock worth $19,774,000 after buying an additional 25,883 shares in the last quarter. Royal Bank of Canada increased its stake in Virtusa Corporation by 8.3% in the 2nd quarter. Royal Bank of Canada now owns 599,501 shares of the information technology services provider’s stock worth $17,626,000 after acquiring an additional 46,016 shares during the last quarter. AHL Partners LLP purchased a new stake in shares of Virtusa Corporation in the 2nd quarter valued at about $668,000. Voya Investment Management LLC raised its holdings in shares of Virtusa Corporation by 7.1% in the 2nd quarter. Voya Investment Management LLC now owns 463,173 shares of the information technology services provider’s stock valued at $13,618,000 after acquiring an additional 30,781 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Virtusa Corporation by 24.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,880,104 shares of the information technology services provider’s stock valued at $55,276,000 after acquiring an additional 374,317 shares in the last quarter. Institutional investors and hedge funds own 92.06% of the company’s stock.
Several analysts have recently issued reports on the company. Zacks Investment Research raised Virtusa Corporation from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 27th. ValuEngine upgraded Virtusa Corporation from a “sell” rating to a “hold” rating in a research report on Tuesday, June 27th. BidaskClub downgraded Virtusa Corporation from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Cowen and Company reaffirmed a “buy” rating and issued a $36.00 price target on shares of Virtusa Corporation in a research note on Friday, July 28th. Finally, Maxim Group reaffirmed a “hold” rating on shares of Virtusa Corporation in a research report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $37.00.
Virtusa Corporation Company Profile
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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