Majesco (MJCO) Given Buy Rating at Maxim Group

Majesco (NYSEAMERICAN:MJCO)‘s stock had its “buy” rating reaffirmed by stock analysts at Maxim Group in a report issued on Wednesday. They currently have a $10.00 price target on the software maker’s stock. Maxim Group’s price target points to a potential upside of 76.37% from the stock’s previous close.

The analysts wrote, “MJCO posted 3QF18 revenue of $31.8 million, which was $600,000 higher than our estimate and represents 6% year over year growth.””

Several other research firms have also commented on MJCO. ValuEngine upgraded Majesco from a “sell” rating to a “hold” rating in a research note on Saturday, October 21st. TheStreet upgraded Majesco from a “d+” rating to a “c-” rating in a research note on Thursday, November 16th.

Shares of Majesco (MJCO) opened at $5.67 on Wednesday. The company has a market capitalization of $211.49, a price-to-earnings ratio of -71.75 and a beta of -2.92. Majesco has a 12 month low of $4.35 and a 12 month high of $6.43.

Majesco (NYSEAMERICAN:MJCO) last posted its quarterly earnings data on Monday, October 30th. The software maker reported ($0.02) EPS for the quarter, missing the consensus estimate of $0.05 by ($0.07). The company had revenue of $30.35 million during the quarter. Majesco had a negative return on equity of 6.36% and a negative net margin of 2.36%. During the same period last year, the business earned $0.01 EPS.

An institutional investor recently raised its position in Majesco stock. Vanguard Group Inc. lifted its stake in Majesco (NYSEAMERICAN:MJCO) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,547 shares of the software maker’s stock after purchasing an additional 794 shares during the period. Vanguard Group Inc. owned 0.07% of Majesco worth $126,000 at the end of the most recent reporting period.

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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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