Virtusa Corporation (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $36.89, for a total value of $221,340.00. Following the completion of the sale, the chief executive officer now owns 604,186 shares of the company’s stock, valued at $22,288,421.54. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Shares of Virtusa Corporation (NASDAQ:VRTU) traded up 1.00% during mid-day trading on Thursday, hitting $37.20. The stock had a trading volume of 19,696 shares. The stock has a 50 day moving average price of $32.49 and a 200 day moving average price of $30.22. The firm has a market cap of $1.09 billion, a PE ratio of 53.84 and a beta of 1.71. Virtusa Corporation has a 52 week low of $18.03 and a 52 week high of $37.66.

Virtusa Corporation (NASDAQ:VRTU) last announced its quarterly earnings data on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The firm had revenue of $227.30 million during the quarter, compared to analysts’ expectations of $224.46 million. Virtusa Corporation had a return on equity of 4.26% and a net margin of 2.47%. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.18 EPS. Equities research analysts expect that Virtusa Corporation will post $1.55 EPS for the current fiscal year.

Virtusa Corporation declared that its Board of Directors has initiated a stock buyback plan on Wednesday, May 3rd that allows the company to repurchase $30.00 million in outstanding shares. This repurchase authorization allows the information technology services provider to buy up to 3.3% of its stock through open market purchases. Stock repurchase plans are often an indication that the company’s board believes its stock is undervalued.

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Institutional investors have recently modified their holdings of the stock. BlackRock Inc. raised its position in shares of Virtusa Corporation by 120,287.9% in the first quarter. BlackRock Inc. now owns 3,341,967 shares of the information technology services provider’s stock valued at $100,993,000 after buying an additional 3,339,191 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Virtusa Corporation by 6.1% in the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock valued at $60,964,000 after buying an additional 119,133 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Virtusa Corporation by 24.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,880,104 shares of the information technology services provider’s stock valued at $55,276,000 after buying an additional 374,317 shares during the last quarter. Frontier Capital Management Co. LLC raised its position in shares of Virtusa Corporation by 23.7% in the second quarter. Frontier Capital Management Co. LLC now owns 1,062,888 shares of the information technology services provider’s stock valued at $31,249,000 after buying an additional 203,703 shares during the last quarter. Finally, State Street Corp raised its position in shares of Virtusa Corporation by 4.0% in the second quarter. State Street Corp now owns 672,462 shares of the information technology services provider’s stock valued at $19,774,000 after buying an additional 25,883 shares during the last quarter. Institutional investors own 94.50% of the company’s stock.

A number of research analysts have recently commented on VRTU shares. Zacks Investment Research lowered Virtusa Corporation from a “buy” rating to a “hold” rating in a report on Tuesday. Maxim Group reiterated a “hold” rating on shares of Virtusa Corporation in a report on Tuesday, August 8th. Needham & Company LLC reiterated a “buy” rating and set a $38.00 price target on shares of Virtusa Corporation in a report on Thursday, August 10th. BidaskClub upgraded Virtusa Corporation from a “hold” rating to a “buy” rating in a report on Sunday, July 16th. Finally, Barrington Research set a $35.00 price target on Virtusa Corporation and gave the stock a “buy” rating in a report on Thursday, May 25th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $36.38.

About Virtusa Corporation

Virtusa Corporation (Virtusa) is an information technology services company. The Company’s services include information technology (IT) and business consulting, digital enablement services, user experience (UX) design, development of IT applications, maintenance and support services, systems integration, infrastructure and managed services.

Insider Buying and Selling by Quarter for Virtusa Corporation (NASDAQ:VRTU)

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