Virtusa Corporation (NASDAQ:VRTU) CEO Kris A. Canekeratne sold 789 shares of the business’s stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $36.09, for a total value of $28,475.01. Following the completion of the sale, the chief executive officer now owns 594,702 shares of the company’s stock, valued at approximately $21,462,795.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Shares of Virtusa Corporation (NASDAQ VRTU) traded up 0.14% during trading on Friday, hitting $36.35. The company had a trading volume of 9,973 shares. The stock’s 50-day moving average price is $35.27 and its 200 day moving average price is $31.48. Virtusa Corporation has a 52 week low of $18.03 and a 52 week high of $37.66. The company has a market capitalization of $1.06 billion, a P/E ratio of 52.60 and a beta of 1.67.

Virtusa Corporation (NASDAQ:VRTU) last issued its quarterly earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.16 by $0.09. Virtusa Corporation had a return on equity of 4.26% and a net margin of 2.47%. The firm had revenue of $227.30 million during the quarter, compared to analyst estimates of $224.46 million. During the same period last year, the company earned $0.18 EPS. Virtusa Corporation’s quarterly revenue was up 10.6% compared to the same quarter last year. On average, equities research analysts forecast that Virtusa Corporation will post $1.53 earnings per share for the current year.

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Several analysts have weighed in on VRTU shares. Cantor Fitzgerald reiterated a “buy” rating and issued a $37.00 price objective on shares of Virtusa Corporation in a research report on Friday, August 11th. Needham & Company LLC restated a “buy” rating and set a $38.00 target price on shares of Virtusa Corporation in a report on Thursday, August 10th. Cowen and Company restated a “buy” rating and set a $36.00 target price on shares of Virtusa Corporation in a report on Friday, July 28th. Barrington Research set a $35.00 target price on Virtusa Corporation and gave the company a “buy” rating in a report on Thursday, May 25th. Finally, Zacks Investment Research upgraded Virtusa Corporation from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $37.00.

Several hedge funds have recently modified their holdings of the stock. Aperio Group LLC lifted its stake in shares of Virtusa Corporation by 0.6% during the 2nd quarter. Aperio Group LLC now owns 9,836 shares of the information technology services provider’s stock worth $289,000 after acquiring an additional 60 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in shares of Virtusa Corporation by 0.9% during the 1st quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the information technology services provider’s stock worth $338,000 after acquiring an additional 100 shares during the last quarter. Arizona State Retirement System lifted its stake in shares of Virtusa Corporation by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 14,455 shares of the information technology services provider’s stock worth $425,000 after acquiring an additional 100 shares during the last quarter. Miles Capital Inc. lifted its stake in shares of Virtusa Corporation by 1.7% during the 1st quarter. Miles Capital Inc. now owns 9,019 shares of the information technology services provider’s stock worth $273,000 after acquiring an additional 154 shares during the last quarter. Finally, OppenheimerFunds Inc. raised its position in Virtusa Corporation by 0.9% during the 1st quarter. OppenheimerFunds Inc. now owns 18,987 shares of the information technology services provider’s stock valued at $574,000 after purchasing an additional 176 shares in the last quarter. 92.06% of the stock is owned by hedge funds and other institutional investors.

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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