Virtusa Corp CFO Sells $196,972 in Stock (VRTU)
Virtusa Corp (NASDAQ:VRTU) CFO Ranjan Kalia unloaded 5,665 shares of the company’s stock on the open market in a transaction that occurred on Monday, August 18th. The stock was sold at an average price of $34.77, for a total value of $196,972.05. Following the completion of the sale, the chief financial officer now directly owns 119,582 shares in the company, valued at approximately $4,157,866. The sale was disclosed in a document filed with the SEC, which is available at this link.
Virtusa Corp (NASDAQ:VRTU) traded down 2.31% on Wednesday, hitting $34.23. 113,430 shares of the company’s stock traded hands. Virtusa Corp has a 52 week low of $25.01 and a 52 week high of $38.49. The stock’s 50-day moving average is $33.48 and its 200-day moving average is $34.3. The company has a market cap of $999.1 million and a price-to-earnings ratio of 27.20.
Virtusa Corp (NASDAQ:VRTU) last released its 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. 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.
A number of analysts have recently weighed in on VRTU shares. Analysts at Maxim Group initiated coverage on shares of Virtusa Corp in a research note on Friday, August 15th. They set a “buy” rating and a $46.00 price target on the stock. 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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