Majesco (MJCO) was Reiterated by Maxim Group to “Buy” according to the research note released today. The brokerage firm has raised the Price Target to $ 10 from a previous price target of $9 . Maxim Group advised their investors in a research report released on May 11, 2016.
Majesco opened for trading at $6.258 and hit $6.4 on the upside on Tuesday, eventually ending the session at $6.4, with a gain of 2.89% or 0.18 points. The heightened volatility saw the trading volume jump to 3,073 shares. Company has a market cap of $233 M.
In a different news, on Feb 2, 2016, William Freitag (Executive Vice President) purchased 3,000 shares at $6.17 per share price. According to the SEC, on Dec 21, 2015, Edward Ossie (COO) purchased 1,000 shares at $5.60 per share price. On Dec 7, 2015, Arun K Maheshwari (director) purchased 10,000 shares at $5.71 per share price, according to the Form-4 filing with the securities and exchange commission.
Majesco formerly MajescoMastek is a provider of software solutions for the insurance industry. The Company offers software solutions for Property and Casualty/General Insurance (P&C) and Life Annuities and Pensions (L&A) providers allowing them to manage policy administration claims management and billing functions. The Company also offers a range of other technology-based solutions that enable organizations to automate business processes and comply with policies and regulations across their organizations. It offers a portfolio of Information Technology (IT) products and services which consists of software solutions IT consulting application development systems integration application management outsourcing testing data warehousing and business intelligence Customer relationship management (CRM) services and legacy modernization. As of September 30 2015 it served approximately 140 insurance customers across the world.