Majesco (MJCO) Files Form 4 Insider Buying : Nimish Sankalia Buys 1,000 Shares

Majesco (MJCO): Nimish Sankalia , Senior Vice President of Majesco purchased 1,000 shares on Jun 10, 2016. The Insider buying transaction was reported by the company on Jun 13, 2016 to the Securities and Exchange Commission. The shares were purchased at $5.16 per share for a total value of $5,160.00 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Feb 2, 2016, William Freitag (Executive Vice President) purchased 3,000 shares at $6.17 per share price.On Dec 21, 2015, Edward Ossie (COO) purchased 1,000 shares at $5.60 per share price.Also, On Dec 7, 2015, Arun K Maheshwari (director) purchased 10,000 shares at $5.71 per share price.On Nov 24, 2015, Prateek Kumar (Executive Vice President) purchased 5,000 shares at $4.84 per share price.

Shares of Majesco (MJCO) ended Friday, Jun 10, 2016 session in red amid volatile trading. The shares closed down -0.22 points or -4.07% at $5.18 with 15,358 shares getting traded. Post opening the session at $5.3, the shares hit an intraday low of $5.1 and an intraday high of $5.31 and the price vacillated in this range throughout the day. The company has a market cap of $189 M and the number of outstanding shares has been calculated to be 3,64,51,357 shares. The 52-week high of Majesco is $6.74 and the 52-week low is $4.21.

Majesco Money Flow Index Chart

Company has been under the radar of several Street Analysts.Majesco is Initiated by Aegis Capital to Buy and the brokerage firm has set the Price Target at $8.70. The Rating was issued on May 26, 2016.Majesco is Reiterated by Maxim Group to Buy and the brokerage firm has raised the Price Target to $ 10 from a previous price target of $9 .The Rating was issued on May 11, 2016.

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.

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