Orogen Viper Picked Up Virtusa Corp (NASDAQ:VRTU) Shares

0
86

In a just published Form 13, filed with the US Securities and Exchange Commission (SEC), Virtusa Corp (NASDAQ:VRTU) reported that Orogen Viper Llc. has picked up 3,000,000 of common stock as of 2017-05-12.

The acquisition brings the aggregate amount owned by Orogen Viper Llc. to a total of 3,000,000 representing less than 8.6% stake in the company.

For those not familiar with the company, 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. Its services enable its clients to accelerate business outcomes by consolidating, rationalizing and modernizing the clients’ core customer-facing processes into one or more core systems. It delivers solutions through a global delivery model, applying advanced methods, such as Agile, a technique designed to accelerate application development. The Company uses its consulting methodology, Accelerated Solution Design (ASD). It supports the Chief Information Officers (CIOs) of its client organizations in solving their critical issues, including managing total cost of ownership, accelerating time-to-market and increasing productivity.

A glance at Virtusa Corp (NASDAQ:VRTU)’s key stats reveals a current market capitalization of 924.71 Million based on 29.96 Million shares outstanding and a price at last close of $31.72 per share.

Looking at insider activity, there are a few transactions worth noting.

Specifically, on 2016-06-10, Moriarty picked up 7,000 at a purchase price of $33.87. This brings their total holding to 169,084 as of the date of the filing.

On the sell side, the most recent transaction saw Maheu unload 2,282 shares at a sale price of $32.57. This brings their total holding to 39,394.

It’s possible to gauge a company’s potential by tracking the activity of its major holders, as well as checking in on insider activity such as those transactions listed above. We’ll be keeping an eye on Virtusa Corp (NASDAQ:VRTU) as things move forward to see if its progress aligns with these transactions.

Subscribe below and we’ll keep you on top of what’s happening before it moves markets.