As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy -- they expect to make money. So let's look at two noteworthy recent insider buys.
At Caterpillar, a filing with the SEC revealed that on Monday, Director David L. Calhoun bought 5,000 shares of CAT, at a cost of $155.37 each, for a total investment of $776,850. Bargain hunters are able to bag CAT even cheaper than Calhoun did, with shares changing hands as low as $152.35 at last check today -- that's 1.9% below Calhoun's purchase price. Caterpillar is trading up about 0.6% on the day Wednesday.
And at SS&C Technologies Holdings, there was insider buying on Friday, by Director Jonathan E. Michael who purchased 12,543 shares for a cost of $49.10 each, for a total investment of $615,883. This purchase marks the first one filed by Michael in the past twelve months. SS&C Technologies Holdings is trading up about 1.3% on the day Wednesday.
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