Virtusa Corporation (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 12,000 shares of Virtusa Corporation stock in a transaction dated Tuesday, November 14th. The shares were sold at an average price of $46.04, for a total value of $552,480.00. Following the completion of the sale, the chief executive officer now owns 559,491 shares of the company’s stock, valued at $25,758,965.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Shares of Virtusa Corporation (NASDAQ:VRTU) opened at $46.74 on Friday. Virtusa Corporation has a 52 week low of $19.50 and a 52 week high of $48.15. The firm has a market capitalization of $1,372.52, a PE ratio of 53.11, a PEG ratio of 2.25 and a beta of 1.66. The company has a current ratio of 4.03, a quick ratio of 4.03 and a debt-to-equity ratio of 0.18.
Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.24 by $0.11. Virtusa Corporation had a return on equity of 4.86% and a net margin of 2.54%. The business had revenue of $248.20 million for the quarter, compared to analyst estimates of $237.48 million. During the same quarter in the previous year, the firm earned $0.27 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. research analysts forecast that Virtusa Corporation will post 1.04 EPS for the current fiscal year.
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Institutional investors have recently added to or reduced their stakes in the stock. Victory Capital Management Inc. acquired a new stake in shares of Virtusa Corporation during the third quarter worth about $130,000. US Bancorp DE lifted its holdings in shares of Virtusa Corporation by 10.3% during the second quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock worth $103,000 after purchasing an additional 327 shares during the period. SG Americas Securities LLC acquired a new stake in shares of Virtusa Corporation during the second quarter worth about $120,000. State of Alaska Department of Revenue lifted its holdings in shares of Virtusa Corporation by 79.9% during the second quarter. State of Alaska Department of Revenue now owns 5,470 shares of the information technology services provider’s stock worth $160,000 after purchasing an additional 2,430 shares during the period. Finally, Piedmont Investment Advisors LLC acquired a new stake in shares of Virtusa Corporation during the third quarter worth about $224,000. 91.76% of the stock is owned by hedge funds and other institutional investors.
VRTU has been the subject of several recent research reports. TheStreet upgraded Virtusa Corporation from a “c” rating to a “b-” rating in a report on Wednesday, November 8th. Maxim Group upgraded Virtusa Corporation from a “hold” rating to a “buy” rating and set a $51.00 price objective for the company in a report on Wednesday, November 8th. Cantor Fitzgerald reiterated a “buy” rating and issued a $37.00 target price on shares of Virtusa Corporation in a research note on Sunday, November 5th. Cowen and Company reiterated a “buy” rating and issued a $37.00 target price on shares of Virtusa Corporation in a research note on Thursday, October 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $38.00 target price on shares of Virtusa Corporation in a research note on Thursday, August 10th. 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $45.00.
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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