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

Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 12,000 shares of Virtusa stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $52.91, for a total value of $634,920.00. Following the transaction, the chief executive officer now owns 609,117 shares of the company’s stock, valued at $32,228,380.47. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Virtusa stock opened at $52.70 on Friday. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.82. Virtusa Co. has a 52 week low of $37.80 and a 52 week high of $58.60. The firm has a market cap of $1.58 billion, a PE ratio of 37.91, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05.

Virtusa (NASDAQ:VRTU) last posted its quarterly earnings results on Thursday, February 7th. The information technology services provider reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.19. Virtusa had a return on equity of 11.39% and a net margin of 0.89%. The company had revenue of $314.68 million during the quarter, compared to analysts’ expectations of $313.32 million. During the same quarter in the previous year, the firm earned $0.47 EPS. Virtusa’s revenue was up 19.3% on a year-over-year basis. As a group, research analysts forecast that Virtusa Co. will post 1.61 EPS for the current year.

Several institutional investors have recently bought and sold shares of VRTU. Campbell Newman Asset Management Inc. increased its holdings in Virtusa by 2.6% in the 1st quarter. Campbell Newman Asset Management Inc. now owns 10,078 shares of the information technology services provider’s stock worth $539,000 after purchasing an additional 251 shares in the last quarter. Geode Capital Management LLC increased its holdings in Virtusa by 6.1% in the 4th quarter. Geode Capital Management LLC now owns 314,846 shares of the information technology services provider’s stock worth $13,409,000 after purchasing an additional 18,138 shares in the last quarter. Norges Bank acquired a new position in Virtusa in the 4th quarter worth about $15,553,000. FMR LLC increased its holdings in Virtusa by 1.4% in the 4th quarter. FMR LLC now owns 2,908,387 shares of the information technology services provider’s stock worth $123,868,000 after purchasing an additional 40,023 shares in the last quarter. Finally, Macquarie Group Ltd. increased its holdings in Virtusa by 50.0% in the 4th quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock worth $26,000 after purchasing an additional 200 shares in the last quarter. 88.32% of the stock is owned by institutional investors.

Several analysts recently issued reports on VRTU shares. Barrington Research set a $64.00 price target on Virtusa and gave the company a “buy” rating in a research note on Friday, February 8th. Cantor Fitzgerald restated a “buy” rating and issued a $62.00 price target on shares of Virtusa in a research note on Friday, February 8th. BidaskClub upgraded Virtusa from a “hold” rating to a “buy” rating in a research note on Friday, January 11th. Finally, Zacks Investment Research raised Virtusa from a “hold” rating to a “buy” rating and set a $61.00 price objective for the company in a report on Friday, April 12th. Two investment analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $62.83.

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Virtusa Company Profile

Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

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