Insider Selling: Virtusa Co. (VRTU) CEO Sells $475,100.00 in Stock

Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 10,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $47.51, for a total value of $475,100.00. Following the completion of the transaction, the chief executive officer now owns 535,491 shares in the company, valued at approximately $25,441,177.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of Virtusa Co. (NASDAQ:VRTU) opened at $49.25 on Friday. The stock has a market capitalization of $1,457.94, a PE ratio of 273.61, a PEG ratio of 2.50 and a beta of 1.48. Virtusa Co. has a 52 week low of $25.72 and a 52 week high of $50.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 4.24 and a current ratio of 4.24.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Thursday, February 8th. The information technology services provider reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.02. The company had revenue of $263.80 million during the quarter, compared to the consensus estimate of $259.81 million. Virtusa had a return on equity of 4.93% and a net margin of 0.92%. The firm’s revenue was up 21.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.37 EPS. research analysts expect that Virtusa Co. will post 0.99 earnings per share for the current year.

A number of research analysts have commented on the company. BidaskClub downgraded Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Zacks Investment Research upgraded Virtusa from a “sell” rating to a “hold” rating in a research note on Wednesday, November 15th. Barrington Research boosted their target price on Virtusa to $52.00 and gave the company an “outperform” rating in a research note on Thursday, November 9th. SunTrust Banks restated a “buy” rating and issued a $52.00 target price on shares of Virtusa in a research note on Friday, November 10th. Finally, Maxim Group set a $59.00 target price on Virtusa and gave the company a “buy” rating in a research note on Thursday, February 8th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Virtusa has an average rating of “Buy” and a consensus price target of $50.63.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTU. Victory Capital Management Inc. bought a new stake in shares of Virtusa during the 3rd quarter worth about $130,000. We Are One Seven LLC bought a new stake in shares of Virtusa during the 4th quarter worth about $143,000. LS Investment Advisors LLC boosted its stake in shares of Virtusa by 359.5% during the 4th quarter. LS Investment Advisors LLC now owns 4,411 shares of the information technology services provider’s stock worth $194,000 after acquiring an additional 3,451 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Virtusa during the 3rd quarter worth about $224,000. Finally, Two Sigma Advisers LP bought a new stake in shares of Virtusa during the 4th quarter worth about $239,000. Institutional investors own 86.50% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. If you are reading this report on another website, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright legislation. The legal version of this report can be read at https://stocknewstimes.com/2018/02/17/insider-selling-virtusa-co-vrtu-ceo-sells-475100-00-in-stock.html.

About Virtusa

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.

Insider Buying and Selling by Quarter for Virtusa (NASDAQ:VRTU)

Receive News & Ratings for Virtusa Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply