Virtusa Corp CEO Unloads $402,960 in Stock (VRTU)
Virtusa Corp (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 12,000 shares of the stock on the open market in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $33.58, for a total transaction of $402,960.00. Following the transaction, the chief executive officer now directly owns 1,032,853 shares in the company, valued at approximately $34,683,204. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Virtusa Corp (NASDAQ:VRTU) traded up 1.10% 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 $33.73 and its 200-day moving average is $34.40. The company has a market cap of $988.3 million and a P/E ratio of 26.00.
Virtusa Corp (NASDAQ:VRTU) last announced its earnings results on Tuesday, August 5th. The company reported $0.31 earnings per share for the quarter, meeting the analysts’ 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 last year, the company posted $0.29 earnings per share. Virtusa Corp’s revenue was up 24.1% compared to the same quarter last year. On average, analysts predict that Virtusa Corp will post $1.53 earnings per share for the current fiscal year.
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.
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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