Virtusa Corp CFO Sells $460,512 in Stock (VRTU)
Virtusa Corp (NASDAQ:VRTU) CFO Ranjan Kalia sold 13,165 shares of the stock on the open market in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $34.98, for a total transaction of $460,511.70. Following the completion of the transaction, the chief financial officer now directly owns 119,582 shares in the company, valued at approximately $4,182,978. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Shares of Virtusa Corp (NASDAQ:VRTU) opened at 34.44 on Friday. Virtusa Corp has a 1-year low of $25.01 and a 1-year high of $38.49. The stock has a 50-day moving average of $33.43 and a 200-day moving average of $34.39. The company has a market cap of $1.005 billion and a price-to-earnings ratio of 26.58.
Virtusa Corp (NASDAQ:VRTU) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.31 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.29 earnings per share. The company’s revenue for the quarter 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.
Several analysts have recently commented on the stock. 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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