Kris A. Canekeratne Sells 12,000 Shares of Virtusa Co. (NASDAQ:VRTU) Stock

Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 12,000 shares of the stock in a transaction that occurred on Thursday, January 11th. The shares were sold at an average price of $46.12, for a total transaction of $553,440.00. Following the completion of the sale, the chief executive officer now owns 553,491 shares in the company, valued at $25,527,004.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of Virtusa Co. (NASDAQ:VRTU) traded down $0.64 during trading hours on Monday, reaching $42.96. 204,778 shares of the company traded hands, compared to its average volume of 183,282. Virtusa Co. has a 12-month low of $25.20 and a 12-month high of $48.71. The company has a market cap of $1,280.33, a P/E ratio of 60.51, a PEG ratio of 2.10 and a beta of 1.48. The company has a debt-to-equity ratio of 0.18, a quick ratio of 4.03 and a current ratio of 4.03.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings results on Wednesday, November 8th. The information technology services provider reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. The company had revenue of $248.20 million for the quarter, compared to the consensus estimate of $237.48 million. Virtusa had a net margin of 2.54% and a return on equity of 4.86%. Virtusa’s revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.27 EPS. sell-side analysts anticipate that Virtusa Co. will post 1.04 EPS for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRTU. Schwab Charles Investment Management Inc. lifted its stake in shares of Virtusa by 1.1% in the second quarter. Schwab Charles Investment Management Inc. now owns 118,351 shares of the information technology services provider’s stock worth $3,480,000 after buying an additional 1,324 shares during the last quarter. Rhumbline Advisers lifted its stake in shares of Virtusa by 2.9% in the second quarter. Rhumbline Advisers now owns 54,201 shares of the information technology services provider’s stock worth $1,594,000 after buying an additional 1,523 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Virtusa in the second quarter worth $120,000. Bank of New York Mellon Corp lifted its stake in shares of Virtusa by 2.5% in the second quarter. Bank of New York Mellon Corp now owns 332,829 shares of the information technology services provider’s stock worth $9,784,000 after buying an additional 8,195 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake in shares of Virtusa by 7.2% in the second quarter. Legal & General Group Plc now owns 53,810 shares of the information technology services provider’s stock worth $1,583,000 after buying an additional 3,622 shares during the last quarter. Hedge funds and other institutional investors own 86.54% of the company’s stock.

A number of research firms have weighed in on VRTU. BidaskClub downgraded shares of Virtusa from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. TheStreet raised shares of Virtusa from a “c” rating to a “b-” rating in a research note on Wednesday, November 8th. Zacks Investment Research raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Thursday, January 25th. SunTrust Banks reaffirmed a “buy” rating and set a $52.00 price target on shares of Virtusa in a report on Friday, November 10th. Finally, Maxim Group raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $51.00 price target for the company in a report on Wednesday, November 8th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $49.25.

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Virtusa 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.

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

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