Bargain hunters are wise to pay careful attention to insider buying, because although there are many various reasons for an insider to sell a stock, presumably the only reason they would use their hard-earned cash to make a purchase, is that they expect to make money. Today we look at two noteworthy recent insider buys.
At AECOM, a filing with the SEC revealed that on Friday, Director Peter A. Feld bought 200,000 shares of ACM, at a cost of $42.56 each, for a total investment of $8.51M. Feld was up about 3.0% on the buy at the high point of today's trading session, with ACM trading as high as $43.83 at last check today. AECOM is trading up about 2.2% on the day Wednesday.
And at ServiceNow, there was insider buying on Monday, by CEO William R. McDermott who bought 3,600 shares for a cost of $278.93 each, for a total investment of $1.00M. ServiceNow is trading up about 0.3% on the day Wednesday.
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