Majesco (MJCO) Director Robert P. Restrepo, Jr. Purchases 5,000 Shares

Majesco (NYSEMKT:MJCO) Director Robert P. Restrepo, Jr. purchased 5,000 shares of the stock in a transaction dated Friday, August 4th. The shares were bought at an average price of $4.90 per share, for a total transaction of $24,500.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $49,000. The purchase was disclosed in a legal filing with the SEC, which is available at this link.

Majesco (NYSEMKT MJCO) opened at 4.37 on Friday. The firm’s 50-day moving average is $4.77 and its 200-day moving average is $5.02. Majesco has a 52-week low of $4.35 and a 52-week high of $6.28. The firm’s market cap is $159.62 million.

Majesco (NYSEMKT:MJCO) last issued its earnings results on Wednesday, July 26th. The software maker reported ($0.05) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by $0.08. The business had revenue of $27.92 million for the quarter. Majesco had a negative return on equity of 14.55% and a negative net margin of 5.91%. Analysts forecast 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. Vanguard Group Inc. boosted its position in shares of Majesco (NYSEMKT:MJCO) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,547 shares of the software maker’s stock after buying an additional 794 shares during the period. Vanguard Group Inc. owned 0.07% of Majesco worth $126,000 as of its most recent SEC filing.

MJCO has been the subject of a number of recent research reports. Maxim Group set a $8.00 price objective on shares of Majesco and gave the stock a “buy” rating in a report on Wednesday, May 3rd. TheStreet upgraded shares of Majesco from a “d+” rating to a “c” rating in a report on Tuesday, May 2nd.

About Majesco

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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