Less than a week after reporting its half year results, Computershare Limited (ASX: CPU) chairman Chris Morris started selling 277,000 shares in his own company.
Today's announcement to the ASX may have spooked some investors who've still been digesting the group's latest batch of results.
However it's worth noting Mr Morris has been with Computershare since before its ASX-listing in 1994, first as chief executive and now as chairman. And with nearly 37.7 million shares to his name, the latest sale represents less than one per cent of his total holding.
Holding over 6.7% of all shares available in the company, Mr Morris' interests are clearly aligned with other shareholders.
Should you buy Computershare?
Given its defensive earnings, huge overseas exposure, dividend yield and leverage to improving share markets, Computershare looks to be a good long-term investment at today's prices. Recently analysts at investment bank UBS, put a $12.80 target price on Computershare.
Currently priced at $12.33, UBS's price target may only be slightly higher than today's price but with plenty of growth strategies it can pursue, investors should at least find a spot for it on their watchlists.
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