Ketan Mehta Buys 5,500 Shares of Majesco (MJCO) Stock
Majesco (NYSEMKT:MJCO) insider Ketan Mehta acquired 5,500 shares of Majesco stock in a transaction that occurred on Tuesday, August 22nd. The shares were bought at an average cost of $4.57 per share, with a total value of $25,135.00. Following the transaction, the insider now owns 15,854 shares in the company, valued at $72,452.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Majesco (NYSEMKT:MJCO) traded up 4.13% during mid-day trading on Tuesday, hitting $4.54. The company’s stock had a trading volume of 10,049 shares. The company’s market cap is $165.83 million. Majesco has a 12-month low of $4.35 and a 12-month high of $6.28. The firm’s 50-day moving average is $4.76 and its 200-day moving average is $5.01.
Majesco (NYSEMKT:MJCO) last issued its quarterly earnings data on Wednesday, July 26th. The software maker reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.03 by $0.08. Majesco had a negative net margin of 5.91% and a negative return on equity of 14.55%. The business had revenue of $27.92 million for the quarter. Analysts predict that Majesco will post ($0.02) EPS for the current fiscal year.
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A hedge fund recently raised its stake in Majesco stock. Northern Trust Corp raised its stake in shares of Majesco (NYSEMKT:MJCO) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 36,766 shares of the software maker’s stock after buying an additional 470 shares during the period. Northern Trust Corp owned approximately 0.10% of Majesco worth $181,000 as of its most recent filing with the SEC.
MJCO has been the subject of a number of research analyst reports. Maxim Group set a $8.00 target price on Majesco and gave the stock a “buy” rating in a report on Wednesday, May 3rd. TheStreet raised Majesco from a “d+” rating to a “c” rating in a report on Tuesday, May 2nd.
Majesco is a provider of insurance software, consulting and services for insurance industry. The Company operates through the software solutions provider for the insurance industry segment. The Company offers insurance software solutions for Property and Casualty or General Insurance (P&C), Life, Annuities (L&A), and Pensions and Group or Employee Benefits providers, allowing them to manage policy management, claims management and billing functions.
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