Insider Selling: SciQuest CEO Sells $152,000 in Stock (SQI)
SciQuest (NYSE:SQI) CEO Stephen J. Wiehe sold 10,000 shares of the stock on the open market in a transaction dated Friday, August 15th. The stock was sold at an average price of $15.20, for a total value of $152,000.00. Following the sale, the chief executive officer now directly owns 613,271 shares in the company, valued at approximately $9,321,719. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Raymond James reiterated an “outperform” rating on shares of SciQuest in a research note on Thursday, July 31st. They now have a $19.50 price target on the stock, down previously from $24.00. Analysts at TheStreet downgraded shares of SciQuest from a “buy” rating to a “hold” rating in a research note on Wednesday, June 4th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. SciQuest currently has a consensus rating of “Buy” and a consensus target price of $31.13.
SciQuest (NYSE:SQI) opened at 15.15 on Thursday. SciQuest has a 52 week low of $14.46 and a 52 week high of $32.69. The stock has a 50-day moving average of $15.98 and a 200-day moving average of $21.45. The company’s market cap is $416.7 million.
SciQuest (NYSE:SQI) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $25.67 million for the quarter, compared to the consensus estimate of $25.40 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts predict that SciQuest will post $0.29 earnings per share for the current fiscal year.
SciQuest, Inc provides on-demand strategic procurement and supplier management solutions. The Company’s on-demand software enables organizations to realize the benefits of strategic procurement by identifying and establishing contracts with preferred suppliers, driving spend to those contracts and promoting process efficiencies through electronic transactions.
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