Insider Selling: Virtusa Co. (NASDAQ:VRTU) Director Sells 9,397 Shares of Stock

Virtusa Co. (NASDAQ:VRTU) Director William K. O’brien sold 9,397 shares of Virtusa stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $43.01, for a total transaction of $404,164.97. Following the completion of the sale, the director now directly owns 28,268 shares of the company’s stock, valued at approximately $1,215,806.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Virtusa stock traded down $0.02 during mid-day trading on Wednesday, hitting $43.06. The stock had a trading volume of 14,227 shares, compared to its average volume of 171,909. The firm has a market capitalization of $1.29 billion, a P/E ratio of 29.49, a P/E/G ratio of 1.23 and a beta of 1.19. The company has a current ratio of 2.65, a quick ratio of 2.58 and a debt-to-equity ratio of 1.43. The firm’s 50 day moving average is $36.76 and its 200 day moving average is $41.62. Virtusa Co. has a one year low of $31.99 and a one year high of $57.00.

Virtusa (NASDAQ:VRTU) last issued its earnings results on Thursday, November 7th. The information technology services provider reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.20. The company had revenue of $328.50 million during the quarter, compared to the consensus estimate of $327.07 million. Virtusa had a net margin of 2.63% and a return on equity of 12.62%. As a group, equities research analysts forecast that Virtusa Co. will post 1.93 earnings per share for the current year.

A number of equities research analysts have commented on VRTU shares. ValuEngine downgraded shares of Virtusa from a “buy” rating to a “hold” rating in a research report on Saturday, August 10th. Zacks Investment Research reissued a “hold” rating on shares of Virtusa in a research report on Saturday, October 12th. Barrington Research reissued a “buy” rating and set a $60.00 price objective on shares of Virtusa in a research report on Monday. JPMorgan Chase & Co. cut their price objective on shares of Virtusa from $49.00 to $48.00 and set an “overweight” rating for the company in a research report on Monday, October 7th. Finally, BidaskClub raised shares of Virtusa from a “sell” rating to a “hold” rating in a research report on Tuesday, November 5th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $53.29.

Institutional investors have recently modified their holdings of the stock. Swiss National Bank boosted its holdings in Virtusa by 2.1% in the 2nd quarter. Swiss National Bank now owns 52,900 shares of the information technology services provider’s stock worth $2,350,000 after buying an additional 1,100 shares during the period. Acadian Asset Management LLC boosted its holdings in Virtusa by 59.0% in the 2nd quarter. Acadian Asset Management LLC now owns 11,755 shares of the information technology services provider’s stock worth $521,000 after buying an additional 4,364 shares during the period. Commerce Bank boosted its holdings in Virtusa by 37.9% in the 2nd quarter. Commerce Bank now owns 13,700 shares of the information technology services provider’s stock worth $608,000 after buying an additional 3,765 shares during the period. Marshall Wace North America L.P. boosted its holdings in Virtusa by 81.6% in the 2nd quarter. Marshall Wace North America L.P. now owns 17,955 shares of the information technology services provider’s stock worth $797,000 after buying an additional 8,069 shares during the period. Finally, Morgan Stanley boosted its holdings in Virtusa by 948.2% in the 2nd quarter. Morgan Stanley now owns 153,502 shares of the information technology services provider’s stock worth $6,820,000 after buying an additional 138,858 shares during the period. 88.07% of the stock is owned by institutional investors.

About Virtusa

Virtusa Corporation provides digital engineering and information technology (IT) outsourcing services worldwide. The company offers business and IT consulting services, including advisory/target operating model, business process re-engineering/business management, transformational solution consulting, and business/technology alignment analysis; omni-channel digital strategy, experience design accelerated solution design, and employee engagement; and application portfolio rationalization, SDLC transformation, and BA competency transformation services.

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