Insider Buying: Henry R. Nothhaft Buys 25,000 Shares of Comverse Stock (CNSI)
Comverse (NASDAQ:CNSI) Director Henry R. Nothhaft purchased 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, June 11th. The stock was purchased at an average cost of $23.50 per share, for a total transaction of $587,500.00. Following the completion of the acquisition, the director now directly owns 31,761 shares in the company, valued at approximately $746,384. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Comverse (NASDAQ:CNSI) traded down 0.42% on Thursday, hitting $23.60. 228,633 shares of the company’s stock traded hands. Comverse has a 52-week low of $22.00 and a 52-week high of $40.30. The stock has a 50-day moving average of $24.32 and a 200-day moving average of $32.58. The company has a market cap of $525.3 million and a P/E ratio of 28.55.
Comverse (NASDAQ:CNSI) last posted its quarterly earnings results on Monday, June 9th. The company reported ($0.72) EPS for the quarter, missing the Thomson Reuters consensus estimate of ($0.06) by $0.66. The company had revenue of $19.13 million for the quarter, compared to the consensus estimate of $113.33 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. Analysts expect that Comverse will post $-0.54 EPS for the current fiscal year.
Separately, analysts at Oppenheimer cut their price target on shares of Comverse from $44.00 to $36.00 in a research note on Wednesday, April 16th. They now have an “outperform” rating on the stock.
Comverse, Inc (NASDAQ:CNSI) is a provider of software and systems enabling services for converged billing and active customer management, mobile Internet, and value-added services.
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