Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction dated Tuesday, November 14th. The stock was sold at an average price of $46.04, for a total value of $552,480.00. Following the completion of the transaction, the chief executive officer now directly owns 559,491 shares in the company, valued at $25,758,965.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Shares of Virtusa Co. (NASDAQ VRTU) traded down $0.50 during mid-day trading on Monday, hitting $45.08. The company had a trading volume of 167,728 shares, compared to its average volume of 296,116. 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 Co. has a fifty-two week low of $21.98 and a fifty-two week high of $48.71. The company has a market capitalization of $1,338.47, a PE ratio of 51.79, a P/E/G ratio of 2.19 and a beta of 1.71.
Virtusa (NASDAQ:VRTU) last posted its quarterly earnings data on Wednesday, November 8th. The information technology services provider reported $0.35 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.24 by $0.11. The business had revenue of $248.20 million during the quarter, compared to the consensus estimate of $237.48 million. Virtusa had a return on equity of 4.86% and a net margin of 2.54%. Virtusa’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.27 earnings per share. equities research analysts predict that Virtusa Co. will post 1.04 earnings per share for the current fiscal year.
A number of institutional investors 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 $130,000. US Bancorp DE increased its position in shares of Virtusa by 10.3% during the second quarter. US Bancorp DE now owns 3,512 shares of the information technology services provider’s stock valued at $103,000 after buying an additional 327 shares during the period. SG Americas Securities LLC purchased a new position in shares of Virtusa during the second quarter valued at about $120,000. State of Alaska Department of Revenue boosted its stake in Virtusa 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 acquiring an additional 2,430 shares in the last quarter. Finally, Piedmont Investment Advisors LLC bought a new stake in Virtusa during the third quarter worth about $224,000. Institutional investors and hedge funds own 88.04% of the company’s stock.
Several analysts recently weighed in on the company. Maxim Group upgraded Virtusa from a “hold” rating to a “buy” rating and set a $51.00 target price for the company in a research note on Wednesday, November 8th. Needham & Company LLC increased their target price on Virtusa to $55.00 and gave the stock a “buy” rating in a report on Friday, November 17th. Barrington Research increased their target price on Virtusa from $35.00 to $40.00 and gave the stock an “outperform” rating in a report on Wednesday, August 9th. TheStreet raised Virtusa from a “c” rating to a “b-” rating in a report on Wednesday, November 8th. Finally, Cowen reissued a “buy” rating and issued a $37.00 target price on shares of Virtusa in a research note on Thursday, October 12th. Two 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 stock. The company currently has a consensus rating of “Buy” and an average target price of $45.00.
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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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