Somewhat Positive News Coverage Somewhat Unlikely to Impact Virtusa Corporation (VRTU) Share Price
Media headlines about Virtusa Corporation (NASDAQ:VRTU) have been trending somewhat positive this week, according to Accern Sentiment Analysis. The research group rates the sentiment of news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Virtusa Corporation earned a media sentiment score of 0.05 on Accern’s scale. Accern also assigned headlines about the information technology services provider an impact score of 46.7009138543137 out of 100, indicating that recent news coverage is somewhat unlikely to have an effect on the company’s share price in the next several days.
Shares of Virtusa Corporation (NASDAQ VRTU) traded up 1.41% during mid-day trading on Thursday, reaching $38.16. The company’s stock had a trading volume of 195,131 shares. The firm has a market capitalization of $1.12 billion, a P/E ratio of 55.22 and a beta of 1.67. The company’s 50-day moving average is $36.25 and its 200 day moving average is $31.89. Virtusa Corporation has a 1-year low of $18.03 and a 1-year high of $38.31.
Virtusa Corporation (NASDAQ:VRTU) last released its earnings results on Tuesday, August 8th. The information technology services provider reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.16 by $0.09. The firm had revenue of $227.30 million during the quarter, compared to analyst estimates of $224.46 million. Virtusa Corporation had a return on equity of 4.26% and a net margin of 2.47%. The business’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.18 earnings per share. On average, analysts expect that Virtusa Corporation will post $1.53 earnings per share for the current year.
Several research analysts recently commented on VRTU shares. Cowen and Company reissued a “buy” rating and issued a $36.00 price objective on shares of Virtusa Corporation in a research note on Friday, July 28th. Cantor Fitzgerald reissued a “buy” rating and issued a $37.00 price objective on shares of Virtusa Corporation in a research note on Friday, August 11th. Needham & Company LLC reissued a “buy” rating and issued a $38.00 price objective on shares of Virtusa Corporation in a research note on Thursday, August 10th. Zacks Investment Research raised Virtusa Corporation from a “hold” rating to a “buy” rating and set a $36.00 price objective for the company in a research note on Wednesday, July 19th. Finally, BidaskClub raised Virtusa Corporation from a “hold” rating to a “buy” rating in a research note on Sunday, July 16th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Virtusa Corporation has a consensus rating of “Buy” and an average price target of $37.00.
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In related news, CEO Kris A. Canekeratne sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 26th. The stock was sold at an average price of $33.63, for a total value of $403,560.00. Following the completion of the transaction, the chief executive officer now directly owns 587,920 shares in the company, valued at $19,771,749.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Raj Rajgopal sold 4,025 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $38.01, for a total value of $152,990.25. Following the completion of the transaction, the insider now owns 108,576 shares of the company’s stock, valued at $4,126,973.76. The disclosure for this sale can be found here. Insiders sold 121,852 shares of company stock valued at $4,379,223 over the last quarter. Insiders own 5.96% of the company’s stock.
Virtusa Corporation Company Profile
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.
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