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Fly News Breaks for December 22, 2016
GWRE, MJCO
Dec 22, 2016 | 08:48 EDT
Maxim analyst Brian Kinstlinger noted that Guidewire (GWRE) acquired privately-held insurance software company ISCS for $160M in cash, or almost 4x revenue. The analyst argues that Majesco's (MJCO) cloud platform has already demonstrated more traction with larger insurers than ISCS and that the price paid by Guidewire suggests that Majesco , which currently trades at just 1.5x trailing 12 month revenues, is "significantly undervalued." Kinstlinger keeps a Buy rating and $8 price target on Majesco shares.
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