Kris A. Canekeratne Sells 10,000 Shares of Virtusa Co. (NASDAQ:VRTU) Stock

Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 1st. The shares were sold at an average price of $54.09, for a total transaction of $540,900.00. Following the sale, the chief executive officer now directly owns 609,117 shares of the company’s stock, valued at $32,947,138.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

VRTU stock traded down $1.00 during trading on Wednesday, hitting $53.39. 4,554 shares of the company’s stock traded hands, compared to its average volume of 115,651. Virtusa Co. has a 52 week low of $37.80 and a 52 week high of $58.60. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.82. The firm has a market capitalization of $1.58 billion, a P/E ratio of 59.99, a price-to-earnings-growth ratio of 1.29 and a beta of 1.05.

Virtusa (NASDAQ:VRTU) last released its quarterly earnings data on Thursday, February 7th. The information technology services provider reported $0.61 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.19. The business had revenue of $314.68 million during the quarter, compared to analyst estimates of $313.32 million. Virtusa had a net margin of 0.89% and a return on equity of 11.39%. Virtusa’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. As a group, analysts anticipate that Virtusa Co. will post 1.61 EPS for the current year.

Several hedge funds have recently made changes to their positions in the company. Macquarie Group Ltd. increased its position in Virtusa by 50.0% during 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. Oppenheimer Asset Management Inc. acquired a new position in Virtusa during the fourth quarter valued at $43,000. Pearl River Capital LLC acquired a new position in Virtusa in the 4th quarter worth about $64,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in Virtusa by 47.9% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock worth $79,000 after purchasing an additional 603 shares during the last quarter. Finally, Amundi Pioneer Asset Management Inc. acquired a new position in Virtusa in the 4th quarter worth about $128,000. 88.32% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have commented on the stock. Zacks Investment Research raised shares of Virtusa from a “sell” rating to a “hold” rating in a report on Thursday, February 14th. BidaskClub cut shares of Virtusa from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Cantor Fitzgerald reissued a “buy” rating and issued a $62.00 price objective on shares of Virtusa in a research note on Friday, February 8th. Finally, Barrington Research set a $64.00 price objective on shares of Virtusa and gave the stock a “buy” rating in a research note on Friday, February 8th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Virtusa presently has an average rating of “Buy” and an average target price of $62.83.

ILLEGAL ACTIVITY NOTICE: This report was posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.baseballdailydigest.com/news/2019/04/24/virtusa-co-vrtu-ceo-kris-a-canekeratne-sells-10000-shares-of-stock.html.

About Virtusa

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.

Recommended Story: How to interpret a stock’s beta number

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.