Shares of Medidata Solutions Inc. (NASDAQ:MDSO) dropped 3.1% during trading on Friday following insider selling activity. The stock traded as low as $50.58 and last traded at $50.69, with a volume of 339,565 shares changing hands. The stock had previously closed at $52.32.

Specifically, Vice Chairman Steven Isaac Hirschfeld sold 20,825 shares of the company’s stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $52.89, for a total value of $1,101,434.25. Following the completion of the transaction, the insider now directly owns 111,225 shares in the company, valued at approximately $5,882,690.25. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Michael I. Otner sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $51.27, for a total transaction of $384,525.00. The disclosure for this sale can be found here. 6.70% of the stock is currently owned by company insiders.

MDSO has been the subject of several recent research reports. Wells Fargo & Co. cut shares of Medidata Solutions from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 21st. Needham & Company LLC assumed coverage on shares of Medidata Solutions in a research report on Monday, July 11th. They set a “buy” rating and a $55.00 price objective for the company. Morgan Stanley reiterated a “buy” rating and set a $61.00 price objective on shares of Medidata Solutions in a research report on Thursday, August 25th. TheStreet upgraded shares of Medidata Solutions from a “hold” rating to a “buy” rating in a research report on Thursday, August 25th. Finally, KeyCorp reiterated a “buy” rating on shares of Medidata Solutions in a research report on Thursday, July 7th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the stock. Medidata Solutions presently has a consensus rating of “Buy” and an average price target of $54.09.

The firm has a market cap of $2.76 billion, a PE ratio of 127.76 and a beta of 1.29. The firm’s 50-day moving average price is $54.90 and its 200-day moving average price is $48.50.

Medidata Solutions (NASDAQ:MDSO) last issued its earnings results on Wednesday, July 20th. The company reported $0.24 EPS for the quarter, topping the consensus estimate of $0.23 by $0.01. Medidata Solutions had a net margin of 5.29% and a return on equity of 10.32%. The company had revenue of $114.60 million for the quarter, compared to the consensus estimate of $112.39 million. During the same period in the previous year, the firm earned $0.22 earnings per share. The firm’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, equities research analysts anticipate that Medidata Solutions Inc. will post $1.01 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently modified their holdings of MDSO. State Street Corp increased its position in shares of Medidata Solutions by 3.7% in the first quarter. State Street Corp now owns 1,154,085 shares of the company’s stock worth $44,675,000 after buying an additional 40,827 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of Medidata Solutions by 1.0% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 1,359,364 shares of the company’s stock worth $52,621,000 after buying an additional 13,786 shares during the last quarter. Teachers Advisors Inc. increased its position in shares of Medidata Solutions by 0.9% in the first quarter. Teachers Advisors Inc. now owns 91,369 shares of the company’s stock worth $3,537,000 after buying an additional 778 shares during the last quarter. BlackRock Group LTD increased its position in shares of Medidata Solutions by 9.0% in the first quarter. BlackRock Group LTD now owns 71,429 shares of the company’s stock worth $2,765,000 after buying an additional 5,907 shares during the last quarter. Finally, Granahan Investment Management Inc. MA increased its position in shares of Medidata Solutions by 83.3% in the first quarter. Granahan Investment Management Inc. MA now owns 231,344 shares of the company’s stock worth $8,955,000 after buying an additional 105,100 shares during the last quarter.

About Medidata Solutions

Medidata Solutions Inc (Medidata) is a provider of cloud-based solutions for life sciences. The Company provides cloud-based solutions for clinical research in life sciences, offering platform technology that focuses on the clinical development. The Medidata Clinical Cloud provides a platform of technology and data analytics solutions designed to manage activities across clinical development.

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