Virtusa Co. (NASDAQ:VRTU) COO Roger Keith Modder Sells 10,000 Shares

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Virtusa Co. (NASDAQ:VRTU) COO Roger Keith Modder sold 10,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $48.95, for a total value of $489,500.00. Following the transaction, the chief operating officer now directly owns 254,728 shares in the company, valued at approximately $12,468,935.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Roger Keith Modder also recently made the following trade(s):

  • On Wednesday, February 12th, Roger Keith Modder sold 2,427 shares of Virtusa stock. The stock was sold at an average price of $49.25, for a total value of $119,529.75.

Virtusa stock opened at $48.95 on Friday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 2.65 and a current ratio of 2.71. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 50.46, a price-to-earnings-growth ratio of 1.32 and a beta of 1.25. Virtusa Co. has a fifty-two week low of $31.99 and a fifty-two week high of $57.00. The stock’s fifty day moving average is $44.29 and its two-hundred day moving average is $40.81.

Virtusa (NASDAQ:VRTU) last posted its earnings results on Thursday, February 6th. The information technology services provider reported $0.78 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.76 by $0.02. The company had revenue of $335.11 million for the quarter, compared to analyst estimates of $336.77 million. Virtusa had a return on equity of 13.31% and a net margin of 2.60%. Virtusa’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.61 earnings per share. As a group, sell-side analysts forecast that Virtusa Co. will post 2.06 EPS for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Morgan Stanley increased its holdings in shares of Virtusa by 948.2% in the second quarter. Morgan Stanley now owns 153,502 shares of the information technology services provider’s stock valued at $6,820,000 after purchasing an additional 138,858 shares during the period. Bridge City Capital LLC increased its holdings in shares of Virtusa by 79.0% in the third quarter. Bridge City Capital LLC now owns 66,350 shares of the information technology services provider’s stock valued at $2,390,000 after purchasing an additional 29,273 shares during the period. Rhumbline Advisers increased its holdings in shares of Virtusa by 6.9% in the third quarter. Rhumbline Advisers now owns 88,065 shares of the information technology services provider’s stock valued at $3,172,000 after purchasing an additional 5,680 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Virtusa by 8.7% in the third quarter. Louisiana State Employees Retirement System now owns 11,200 shares of the information technology services provider’s stock valued at $403,000 after purchasing an additional 900 shares during the period. Finally, Municipal Employees Retirement System of Michigan increased its holdings in shares of Virtusa by 10.6% in the third quarter. Municipal Employees Retirement System of Michigan now owns 9,070 shares of the information technology services provider’s stock valued at $327,000 after purchasing an additional 870 shares during the period. 86.46% of the stock is currently owned by institutional investors.

A number of research analysts recently weighed in on the company. Zacks Investment Research raised Virtusa from a “hold” rating to a “strong-buy” rating and set a $56.00 price objective on the stock in a report on Friday. Cowen lowered Virtusa from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $47.00 to $44.00 in a report on Monday, January 6th. JPMorgan Chase & Co. upped their price objective on Virtusa from $51.00 to $55.00 and gave the stock an “overweight” rating in a report on Wednesday, December 18th. TheStreet raised Virtusa from a “c+” rating to a “b-” rating in a report on Thursday, November 21st. Finally, Needham & Company LLC reaffirmed a “positive” rating and set a $56.00 price objective on shares of Virtusa in a report on Friday, February 7th. They noted that the move was a valuation call. Two analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $55.29.

Virtusa Company Profile

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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