Kris A. Canekeratne Sells 7,500 Shares of Virtusa Co. (VRTU) Stock

Virtusa Co. (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 7,500 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $54.97, for a total transaction of $412,275.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Shares of NASDAQ:VRTU opened at $55.27 on Friday. The company has a market cap of $1.65 billion, a P/E ratio of 62.10, a PEG ratio of 1.44 and a beta of 1.05. Virtusa Co. has a 12 month low of $37.80 and a 12 month high of $58.60. The company has a debt-to-equity ratio of 0.82, a current ratio of 2.35 and a quick ratio of 2.35.

Virtusa (NASDAQ:VRTU) last issued its quarterly earnings data on Thursday, February 7th. The information technology services provider reported $0.61 EPS for the quarter, beating the consensus estimate of $0.42 by $0.19. The company had revenue of $314.68 million during the quarter, compared to analysts’ expectations of $313.32 million. Virtusa had a net margin of 0.89% and a return on equity of 11.39%. Virtusa’s revenue for the quarter was up 19.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.47 earnings per share. As a group, equities research analysts anticipate that Virtusa Co. will post 1.58 earnings per share for the current year.

Several research firms have recently issued reports on VRTU. Cantor Fitzgerald reissued a “buy” rating and issued a $62.00 price target on shares of Virtusa in a research report on Friday, February 8th. Barrington Research set a $64.00 price target on shares of Virtusa and gave the company a “buy” rating in a research report on Friday, February 8th. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Friday, March 15th. Finally, Zacks Investment Research raised shares of Virtusa from a “hold” rating to a “buy” rating and set a $61.00 price target on the stock in a research report on Friday, April 12th. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $62.83.

Large investors have recently modified their holdings of the stock. Macquarie Group Ltd. grew its stake in Virtusa by 50.0% during the fourth quarter. Macquarie Group Ltd. now owns 600 shares of the information technology services provider’s stock valued at $26,000 after acquiring an additional 200 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new position in Virtusa during the fourth quarter valued at approximately $43,000. Pearl River Capital LLC purchased a new position in Virtusa during the fourth quarter valued at approximately $64,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in Virtusa by 47.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,862 shares of the information technology services provider’s stock valued at $79,000 after acquiring an additional 603 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. purchased a new position in Virtusa during the fourth quarter valued at approximately $128,000. 88.18% of the stock is owned by institutional investors.

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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.

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