Insider Selling: Virtusa Corp CEO Sells 6,000 Shares of Stock (VRTU)
Virtusa Corp (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 6,000 shares of Virtusa Corp stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $33.79, for a total transaction of $202,740.00. Following the completion of the transaction, the chief executive officer now directly owns 1,032,853 shares in the company, valued at approximately $34,900,103. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 1.10% during mid-day trading on Wednesday, hitting $33.86. The stock had a trading volume of 171,243 shares. Virtusa Corp has a 1-year low of $25.01 and a 1-year high of $38.49. The stock’s 50-day moving average is $33.68 and its 200-day moving average is $34.39. The company has a market cap of $988.3 million and a price-to-earnings ratio of 26.00.
Virtusa Corp (NASDAQ:VRTU) last issued its quarterly earnings data 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. On average, analysts predict that Virtusa Corp will post $1.53 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.
Receive News & Ratings for Virtusa Corp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Virtusa Corp and related companies with Analyst Ratings Network's FREE daily email newsletter.