Majesco (MJCO) Raised to C- at TheStreet

TheStreet upgraded shares of Majesco (NYSEAMERICAN:MJCO) from a d+ rating to a c- rating in a research report report published on Thursday.

Several other research firms have also recently weighed in on MJCO. ValuEngine upgraded shares of Majesco from a sell rating to a hold rating in a research report on Saturday, October 21st. Maxim Group restated a buy rating and issued a $10.00 price objective (up previously from $8.00) on shares of Majesco in a research report on Tuesday, October 31st.

Majesco (NYSEAMERICAN:MJCO) opened at $5.71 on Thursday. Majesco has a one year low of $4.35 and a one year high of $6.34.

Majesco (NYSEAMERICAN:MJCO) last posted its quarterly earnings data on Monday, October 30th. The software maker reported ($0.02) earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.07). Majesco had a negative return on equity of 14.55% and a negative net margin of 5.91%. The company had revenue of $30.35 million during the quarter. During the same period in the previous year, the business earned $0.01 EPS.

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In other Majesco news, insider Ketan Mehta bought 5,500 shares of the company’s stock in a transaction on Tuesday, August 22nd. The stock was bought at an average price of $4.57 per share, for a total transaction of $25,135.00. Following the transaction, the insider now owns 15,854 shares of the company’s stock, valued at approximately $72,452.78. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

A hedge fund recently raised its stake in Majesco stock. Northern Trust Corp grew its position in Majesco (NYSEAMERICAN:MJCO) by 1.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 36,766 shares of the software maker’s stock after buying an additional 470 shares during the period. Northern Trust Corp owned approximately 0.10% of Majesco worth $181,000 at the end of the most recent quarter.

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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