Somewhat Favorable News Coverage Somewhat Unlikely to Affect Virtusa (NASDAQ:VRTU) Stock Price

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News articles about Virtusa (NASDAQ:VRTU) have trended somewhat positive on Sunday, according to Accern Sentiment. The research group rates the sentiment of media coverage by analyzing more than 20 million blog and news sources in real-time. Accern ranks coverage of public companies on a scale of negative one to one, with scores closest to one being the most favorable. Virtusa earned a coverage optimism score of 0.21 on Accern’s scale. Accern also assigned media coverage about the information technology services provider an impact score of 47.7106045252391 out of 100, meaning that recent media coverage is somewhat unlikely to have an impact on the stock’s share price in the next few days.

These are some of the news headlines that may have effected Accern Sentiment Analysis’s analysis:

Shares of NASDAQ:VRTU traded up $1.04 during mid-day trading on Friday, hitting $58.30. 111,152 shares of the company traded hands, compared to its average volume of 110,024. The stock has a market cap of $1.68 billion, a price-to-earnings ratio of 53.15, a PEG ratio of 1.77 and a beta of 1.27. The company has a quick ratio of 2.50, a current ratio of 2.50 and a debt-to-equity ratio of 0.68. Virtusa has a 12-month low of $34.74 and a 12-month high of $58.58.

Virtusa (NASDAQ:VRTU) last announced its earnings results on Wednesday, August 8th. The information technology services provider reported $0.50 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.03. Virtusa had a positive return on equity of 7.38% and a negative net margin of 0.80%. The company had revenue of $300.00 million for the quarter, compared to analysts’ expectations of $298.00 million. During the same quarter in the previous year, the firm earned $0.25 earnings per share. Virtusa’s quarterly revenue was up 32.0% on a year-over-year basis. equities research analysts expect that Virtusa will post 1.59 earnings per share for the current year.

VRTU has been the topic of a number of recent analyst reports. SunTrust Banks lifted their price objective on Virtusa to $56.00 and gave the stock a “hold” rating in a research note on Monday, August 13th. Cantor Fitzgerald lifted their target price on Virtusa from $60.00 to $62.00 and gave the stock an “overweight” rating in a report on Friday, August 10th. Zacks Investment Research upgraded Virtusa from a “strong sell” rating to a “hold” rating in a report on Tuesday, May 22nd. Needham & Company LLC lifted their target price on Virtusa from $65.00 to $68.00 and gave the stock a “strong-buy” rating in a report on Thursday, August 9th. Finally, BidaskClub upgraded Virtusa from a “hold” rating to a “buy” rating in a report on Thursday, June 7th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Virtusa currently has a consensus rating of “Buy” and an average target price of $62.00.

In related news, President Samir Dhir sold 4,000 shares of the business’s stock in a transaction on Monday, August 13th. The stock was sold at an average price of $52.89, for a total transaction of $211,560.00. Following the sale, the president now directly owns 129,045 shares in the company, valued at approximately $6,825,190.05. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Kris A. Canekeratne sold 3,000 shares of the company’s stock in a transaction dated Thursday, July 5th. The stock was sold at an average price of $50.28, for a total value of $150,840.00. Following the completion of the transaction, the chief executive officer now owns 734,691 shares in the company, valued at $36,940,263.48. The disclosure for this sale can be found here. Insiders have sold a total of 22,000 shares of company stock worth $1,163,670 in the last ninety days. Insiders own 5.11% of the company’s stock.

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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