Majesco (NYSEMKT:MJCO) announced its quarterly earnings data on Monday. The software maker reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.05 by ($0.07), Bloomberg Earnings reports. Majesco had a negative net margin of 5.91% and a negative return on equity of 14.55%. During the same period in the prior year, the firm posted $0.01 earnings per share.
Shares of Majesco (MJCO) opened at 5.58 on Tuesday. Majesco has a 12 month low of $4.35 and a 12 month high of $6.34. The firm’s market capitalization is $203.82 million. The firm’s 50-day moving average is $5.28 and its 200 day moving average is $5.28.
In related news, insider Ketan Mehta bought 5,500 shares of Majesco stock in a transaction dated Tuesday, August 22nd. The stock was purchased at an average cost of $4.57 per share, with a total value of $25,135.00. Following the transaction, the insider now directly owns 15,854 shares of the company’s stock, valued at $72,452.78. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders acquired a total of 15,500 shares of company stock valued at $74,485 over the last ninety days.
An institutional investor recently raised its position in Majesco stock. Vanguard Group Inc. increased its holdings in Majesco (NYSEMKT:MJCO) by 3.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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.
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A number of equities analysts recently commented on the company. Maxim Group reiterated a “buy” rating and set a $7.00 price target (down previously from $8.00) on shares of Majesco in a report on Thursday, July 27th. ValuEngine upgraded Majesco from a “sell” rating to a “hold” rating in a report on Saturday, October 21st. Finally, TheStreet cut Majesco from a “c-” rating to a “d+” rating in a report on Friday, October 13th.
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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