Insider Selling: Virtusa Corp President Sells 3,500 Shares of Stock (VRTU)
Virtusa Corp (NASDAQ:VRTU) President Raj Rajgopal sold 3,500 shares of Virtusa Corp stock on the open market in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $33.05, for a total transaction of $115,675.00. Following the transaction, the president now directly owns 123,075 shares of the company’s stock, valued at approximately $4,067,629. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Separately, analysts at Noble Financial upgraded shares of Virtusa Corp from a “hold” rating to a “buy” rating in a research note on Wednesday, August 6th. They now have a $39.00 price target on the stock. They noted that the move was a valuation call.
Shares of Virtusa Corp (NASDAQ:VRTU) traded up 1.78% during mid-day trading on Monday, hitting $33.82. 144,565 shares of the company’s stock traded hands. Virtusa Corp has a one year low of $25.01 and a one year high of $38.49. The stock has a 50-day moving average of $33.86 and a 200-day moving average of $34.42. The company has a market cap of $987.1 million and a P/E ratio of 25.80.
Virtusa Corp (NASDAQ:VRTU) last announced its earnings results on Tuesday, August 5th. The company reported $0.31 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.31. The company had revenue of $112.27 million for the quarter, compared to the consensus estimate of $112.07 million. During the same quarter in the prior year, the company posted $0.29 earnings per share. The company’s quarterly revenue was up 24.1% on a year-over-year basis. Analysts expect that Virtusa Corp will post $1.53 EPS 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.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.