Virtusa (NASDAQ:VRTU) released its quarterly earnings data on Thursday. The information technology services provider reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.20, Fidelity Earnings reports. The firm had revenue of $328.50 million during the quarter, compared to analyst estimates of $327.07 million. Virtusa had a return on equity of 11.67% and a net margin of 2.23%. Virtusa updated its Q3 guidance to $0.73-$0.79 EPS and its FY20 guidance to $2.51-$2.65 EPS.
Shares of NASDAQ:VRTU traded up $2.93 during mid-day trading on Friday, reaching $42.71. The stock had a trading volume of 488,100 shares, compared to its average volume of 171,613. The company has a current ratio of 2.58, a quick ratio of 2.58 and a debt-to-equity ratio of 0.99. The company has a market cap of $1.20 billion, a P/E ratio of 29.25, a price-to-earnings-growth ratio of 1.14 and a beta of 1.19. Virtusa has a 1 year low of $31.99 and a 1 year high of $57.00. The business’s 50 day moving average price is $36.53 and its 200 day moving average price is $41.78.
In related news, CEO Kris A. Canekeratne sold 7,500 shares of the business’s stock in a transaction dated Wednesday, October 23rd. The stock was sold at an average price of $35.50, for a total value of $266,250.00. Following the sale, the chief executive officer now directly owns 706,748 shares in the company, valued at $25,089,554. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Samir Dhir sold 4,000 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $37.55, for a total value of $150,200.00. Following the completion of the sale, the insider now owns 148,139 shares in the company, valued at $5,562,619.45. The disclosure for this sale can be found here. Insiders sold 30,500 shares of company stock worth $1,108,640 over the last quarter. 4.73% of the stock is owned by company insiders.
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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