Majesco (MJCO) Earns Buy Rating from Maxim Group

Majesco (NYSEMKT:MJCO)‘s stock had its “buy” rating reiterated by stock analysts at Maxim Group in a research note issued to investors on Tuesday, Marketbeat Ratings reports. They presently have a $10.00 target price on the software maker’s stock, up from their previous target price of $8.00. Maxim Group’s target price suggests a potential upside of 79.21% from the stock’s current price.

A number of other equities research analysts have also issued reports on the stock. ValuEngine raised shares of Majesco from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. TheStreet lowered shares of Majesco from a “c-” rating to a “d+” rating in a research note on Friday, October 13th.

Shares of Majesco (MJCO) traded up 2.33% during midday trading on Tuesday, hitting $5.71. The stock had a trading volume of 9,558 shares. The firm has a 50 day moving average of $5.28 and a 200-day moving average of $5.28. Majesco has a one year low of $4.35 and a one year high of $6.34. The company’s market cap is $208.57 million.

Majesco (NYSEMKT:MJCO) last posted its quarterly earnings results on Monday, October 30th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.07). The business had revenue of $30.35 million during the quarter. Majesco had a negative return on equity of 14.55% and a negative net margin of 5.91%. During the same quarter last year, the business posted $0.01 EPS. On average, analysts forecast that Majesco will post $0.08 earnings per share for the current fiscal year.

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In other news, insider Ketan Mehta bought 5,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were purchased at an average price of $4.57 per share, for a total transaction of $25,135.00. Following the acquisition, the insider now directly owns 15,854 shares of the company’s stock, valued at approximately $72,452.78. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders purchased a total of 15,500 shares of company stock worth $74,485 in the last quarter.

An institutional investor recently raised its position in Majesco stock. Vanguard Group Inc. raised its position in Majesco (NYSEMKT:MJCO) by 3.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. 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.

Majesco Company Profile

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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