Insider Selling: Virtusa Corp Director Sells 20,000 Shares of Stock (VRTU)
Virtusa Corp (NASDAQ:VRTU) Director Rowland Moriarty unloaded 20,000 shares of Virtusa Corp stock on the open market in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $29.27, for a total transaction of $585,400.00. Following the completion of the sale, the director now directly owns 95,820 shares in the company. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Zacks downgraded shares of Virtusa Corp (NASDAQ:VRTU) from an “outperform” rating to a “neutral” rating in a research note to investors on Friday, August 16th. They now have a $29.20 price target on the stock. Separately, analysts at Needham & Company raised their price target on shares of Virtusa Corp (NASDAQ:VRTU) from $28.00 to $30.00 in a research note to investors on Monday, August 5th. They now have a “buy” rating on the stock.
Virtusa Corp (NASDAQ:VRTU) traded up 1.39% during mid-day trading on Wednesday, hitting $29.82. The stock had a trading volume of 135,939 shares. Virtusa Corp has a 52 week low of $14.40 and a 52 week high of $29.43. The stock’s 50-day moving average is $26.34 and its 200-day moving average is $24.21. The company has a market cap of $781.7 million and a price-to-earnings ratio of 25.35.
Virtusa Corp (NASDAQ:VRTU) last issued its quarterly earnings data on Thursday, August 1st. The company reported $0.29 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.28 by $0.01. The company had revenue of $90.50 million for the quarter, compared to the consensus estimate of $90.75 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The company’s quarterly revenue was up 18.8% on a year-over-year basis. On average, analysts predict that Virtusa Corp will post $1.31 earnings per share for the current fiscal year.
Virtusa Corporation is an information technology services company. The Company uses an offshore delivery model to provide a broad range of information technology (NASDAQ:VRTU), services, including IT consulting, technology implementation and application outsourcing.
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