Insider Selling: Virtusa Corp CEO Unloads 4,000 Shares of Stock (VRTU)
Virtusa Corp (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 4,000 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $34.42, for a total transaction of $137,680.00. Following the transaction, the chief executive officer now directly owns 1,016,635 shares in the company, valued at approximately $34,992,577. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
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 Corp (NASDAQ:VRTU) traded down 0.14% on Wednesday, hitting $34.49. The stock had a trading volume of 108,156 shares. Virtusa Corp has a 1-year low of $25.60 and a 1-year high of $38.49. The stock has a 50-day moving average of $33.37 and a 200-day moving average of $34.28. The company has a market cap of $1.007 billion and a price-to-earnings ratio of 26.82.
Virtusa Corp (NASDAQ:VRTU) last posted its quarterly 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.
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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