Virtusa Co. (VRTU) EVP Sundararajan Narayanan Sells 2,000 Shares

Virtusa Co. (NASDAQ:VRTU) EVP Sundararajan Narayanan sold 2,000 shares of Virtusa stock in a transaction dated Wednesday, June 13th. The stock was sold at an average price of $53.42, for a total transaction of $106,840.00. Following the sale, the executive vice president now owns 79,086 shares of the company’s stock, valued at $4,224,774.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Shares of VRTU traded down $0.17 during mid-day trading on Thursday, hitting $51.14. The company had a trading volume of 180,775 shares, compared to its average volume of 215,887. The company has a debt-to-equity ratio of 0.66, a quick ratio of 2.53 and a current ratio of 2.54. Virtusa Co. has a 1-year low of $28.45 and a 1-year high of $54.06. The stock has a market capitalization of $1.56 billion, a PE ratio of 57.44, a P/E/G ratio of 1.74 and a beta of 1.28.

Virtusa (NASDAQ:VRTU) last released its earnings results on Tuesday, May 15th. The information technology services provider reported $0.55 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. Virtusa had a net margin of 0.12% and a return on equity of 5.94%. The business had revenue of $281.30 million for the quarter, compared to analysts’ expectations of $282.44 million. During the same period last year, the company earned $0.43 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. sell-side analysts expect that Virtusa Co. will post 1.5 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the stock. Barrington Research set a $55.00 price target on shares of Virtusa and gave the stock a “buy” rating in a report on Tuesday, March 13th. SunTrust Banks downgraded shares of Virtusa from a “buy” rating to a “hold” rating in a report on Wednesday, April 4th. Cantor Fitzgerald reiterated a “buy” rating and set a $60.00 price target on shares of Virtusa in a report on Tuesday, May 29th. BidaskClub upgraded shares of Virtusa from a “hold” rating to a “buy” rating in a report on Thursday, June 7th. Finally, Needham & Company LLC upgraded shares of Virtusa from a “buy” rating to a “strong-buy” rating and set a $65.00 price target for the company in a report on Tuesday, April 10th. Three analysts have rated the stock with a hold rating, five have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $57.88.

Several institutional investors and hedge funds have recently added to or reduced their stakes in VRTU. Bank of Montreal Can boosted its position in shares of Virtusa by 5,546.1% in the fourth quarter. Bank of Montreal Can now owns 22,189 shares of the information technology services provider’s stock worth $978,000 after acquiring an additional 21,796 shares during the last quarter. Schwab Charles Investment Management Inc. lifted its position in Virtusa by 6.5% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 134,348 shares of the information technology services provider’s stock valued at $5,923,000 after buying an additional 8,185 shares in the last quarter. Aperio Group LLC lifted its position in Virtusa by 74.6% during the fourth quarter. Aperio Group LLC now owns 17,122 shares of the information technology services provider’s stock valued at $755,000 after buying an additional 7,318 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in Virtusa during the fourth quarter valued at approximately $421,000. Finally, California Public Employees Retirement System lifted its position in Virtusa by 24.1% during the fourth quarter. California Public Employees Retirement System now owns 106,684 shares of the information technology services provider’s stock valued at $4,703,000 after buying an additional 20,684 shares in the last quarter. 85.64% of the stock is currently owned by institutional investors and hedge funds.

About Virtusa

Virtusa Corporation operates as an information technology (IT) services company. It offers business and IT consulting services comprising advisory/target operating model, business process re-engineering/BPM, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design ASD, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

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

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