Shares of Medidata Solutions Inc. (NASDAQ:MDSO) fell 3% during trading on Wednesday . The stock traded as low as $52.06 and last traded at $52.19, with a volume of 220,778 shares. The stock had previously closed at $53.82.

Several brokerages have recently commented on MDSO. Wells Fargo & Co. cut Medidata Solutions from an “outperform” rating to a “market perform” rating in a report on Thursday, July 21st. KeyCorp restated a “buy” rating and set a $55.00 target price on shares of Medidata Solutions in a report on Sunday, May 22nd. Jefferies Group cut Medidata Solutions from a “hold” rating to an “underperform” rating and increased their target price for the stock from $35.00 to $36.00 in a report on Tuesday, April 26th. Leerink Swann began coverage on Medidata Solutions in a report on Tuesday, April 26th. They set a “market perform” rating and a $47.00 target price on the stock. Finally, Zacks Investment Research cut Medidata Solutions from a “buy” rating to a “hold” rating in a report on Wednesday, July 13th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $51.70.

The company has a market cap of $2.94 billion and a PE ratio of 135.84. The firm’s 50-day moving average is $51.00 and its 200-day moving average is $43.22.

Medidata Solutions (NASDAQ:MDSO) last announced its quarterly earnings data on Wednesday, July 20th. The company reported $0.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.23 by $0.01. The company earned $114.60 million during the quarter, compared to analyst estimates of $112.39 million. During the same period in the prior year, the firm earned $0.22 earnings per share. Medidata Solutions’s revenue was up 16.8% on a year-over-year basis. On average, equities research analysts expect that Medidata Solutions Inc. will post $1.01 EPS for the current fiscal year.

In other news, Director Neil M. Kurtz sold 5,937 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $44.95, for a total transaction of $266,868.15. Following the completion of the transaction, the director now owns 110,762 shares of the company’s stock, valued at approximately $4,978,751.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Tarek Sherif sold 7,500 shares of the business’s stock in a transaction on Wednesday, May 25th. The stock was sold at an average price of $45.00, for a total value of $337,500.00. Following the transaction, the chief executive officer now directly owns 914,349 shares of the company’s stock, valued at approximately $41,145,705. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Medidata Solutions stock. Bank of Montreal Can raised its position in Medidata Solutions Inc. (NASDAQ:MDSO) by 96.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 33,760 shares of the company’s stock after buying an additional 16,587 shares during the period. Bank of Montreal Can owned about 0.06% of Medidata Solutions worth $1,664,000 as of its most recent filing with the SEC.

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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