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Insider Selling: Virtusa Co. (VRTU) Insider Sells 4,025 Shares of Stock

Virtusa Co. (NASDAQ:VRTU) insider Raj Rajgopal sold 4,025 shares of the business’s stock in a transaction on Thursday, March 1st. The shares were sold at an average price of $47.54, for a total value of $191,348.50. Following the completion of the transaction, the insider now owns 98,576 shares of the company’s stock, valued at $4,686,303.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

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Raj Rajgopal also recently made the following trade(s):

Shares of Virtusa Co. (VRTU) traded up $1.02 during mid-day trading on Friday, hitting $48.55. 151,032 shares of the stock traded hands, compared to its average volume of 219,013. The company has a quick ratio of 4.24, a current ratio of 4.24 and a debt-to-equity ratio of 0.23. Virtusa Co. has a twelve month low of $25.72 and a twelve month high of $50.83. The company has a market capitalization of $1,404.38, a PE ratio of 264.06, a price-to-earnings-growth ratio of 2.41 and a beta of 1.34.

Virtusa (NASDAQ:VRTU) last issued its quarterly earnings results on Thursday, February 8th. The information technology services provider reported $0.47 EPS for the quarter, topping the consensus estimate of $0.45 by $0.02. The business had revenue of $263.80 million for the quarter, compared to analysts’ expectations of $259.81 million. Virtusa had a net margin of 0.92% and a return on equity of 4.93%. The company’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the company posted $0.37 earnings per share. equities research analysts expect that Virtusa Co. will post 0.99 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Virtusa by 6.1% during the second quarter. Vanguard Group Inc. now owns 2,073,630 shares of the information technology services provider’s stock worth $60,964,000 after acquiring an additional 119,133 shares during the period. State Street Corp increased its stake in shares of Virtusa 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 purchasing an additional 25,883 shares during the period. Citadel Advisors LLC increased its stake in shares of Virtusa by 70.4% in the third quarter. Citadel Advisors LLC now owns 109,197 shares of the information technology services provider’s stock valued at $4,126,000 after purchasing an additional 45,106 shares during the period. Peregrine Capital Management LLC acquired a new stake in shares of Virtusa in the third quarter valued at approximately $9,115,000. Finally, Mesirow Financial Investment Management Equity Management increased its stake in shares of Virtusa by 80.0% in the third quarter. Mesirow Financial Investment Management Equity Management now owns 422,359 shares of the information technology services provider’s stock valued at $15,957,000 after purchasing an additional 187,675 shares during the period. Hedge funds and other institutional investors own 84.55% of the company’s stock.

VRTU has been the subject of a number of analyst reports. BidaskClub raised shares of Virtusa from a “hold” rating to a “buy” rating in a research report on Saturday, January 20th. Zacks Investment Research cut shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Sunday, January 21st. Cantor Fitzgerald reaffirmed a “buy” rating and set a $37.00 price target on shares of Virtusa in a research report on Sunday, November 5th. Barrington Research increased their price target on shares of Virtusa from $52.00 to $55.00 and gave the stock an “outperform” rating in a research report on Friday, February 9th. Finally, Cowen reaffirmed a “buy” rating and set a $55.00 price target on shares of Virtusa in a research report on Thursday, December 14th. One equities research analyst has rated the stock with a sell rating and nine have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $50.63.

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About Virtusa

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.