Zacks Investment Research upgraded shares of QAD (NASDAQ:QADA) from a hold rating to a buy rating in a research report released on Thursday morning, Zacks.com reports. Zacks Investment Research currently has $57.00 price objective on the software maker’s stock.
According to Zacks, “QAD Inc. operates as a global provider of enterprise software applications, professional services and application support for manufacturing companies. The Company’s core product QAD Enterprise Applications is an integrated suite of software applications deployable in computer infrastructures, on demand and on premise deployment as well underlying databases, hardware platforms and operating systems. Solution suites offered are- QAD Standard Financials and QAD Enterprise Financials; QAD Customer Management; QAD Manufacturing suite; QAD Supply Chain; QAD Service and Support; QAD Enterprise Asset Management; QAD Transportation Management; QAD Analytics. Additionally, QAD also offer services for customer support; implementation; on demand and application management; migration and upgrade; and business consulting. Industries catered by the Company include automotive, consumer products, food and beverage, high technology, industrial products and life sciences. QAD Inc is headquartered in Santa Barbara, California. “
Several other equities research analysts have also recently issued reports on QADA. Sidoti raised their price objective on QAD from $55.00 to $60.00 and gave the stock a buy rating in a report on Friday, January 3rd. ValuEngine cut QAD from a buy rating to a hold rating in a report on Friday, January 3rd. B. Riley restated a buy rating and set a $60.00 price objective on shares of QAD in a report on Wednesday, November 27th. BidaskClub cut QAD from a buy rating to a hold rating in a report on Wednesday, November 20th. Finally, Stifel Nicolaus raised their price objective on QAD from $49.00 to $58.00 and gave the stock a buy rating in a report on Wednesday, November 27th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average price target of $58.75.
Shares of QADA stock traded up $0.44 during mid-day trading on Thursday, hitting $53.24. 28,739 shares of the company’s stock were exchanged, compared to its average volume of 59,045. QAD has a fifty-two week low of $35.00 and a fifty-two week high of $53.89. The stock has a 50-day simple moving average of $50.49 and a two-hundred day simple moving average of $45.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.22. The stock has a market cap of $1.04 billion, a price-to-earnings ratio of 104.39 and a beta of 1.11.
QAD (NASDAQ:QADA) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.09) by $0.10. QAD had a negative return on equity of 0.01% and a negative net margin of 3.63%. The business had revenue of $77.80 million for the quarter, compared to analysts’ expectations of $78.28 million. During the same quarter last year, the firm earned $0.14 earnings per share. The business’s revenue was down 2.3% on a year-over-year basis. As a group, analysts anticipate that QAD will post -0.45 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Thursday, January 9th. Investors of record on Thursday, January 2nd were given a $0.072 dividend. This represents a $0.29 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend was Tuesday, December 31st. QAD’s dividend payout ratio (DPR) is currently 56.86%.
In related news, President Pamela M. Lopker sold 2,000 shares of the stock in a transaction on Monday, October 28th. The stock was sold at an average price of $45.11, for a total value of $90,220.00. Following the transaction, the president now directly owns 4,336,095 shares of the company’s stock, valued at approximately $195,601,245.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Pamela M. Lopker sold 1,000 shares of the stock in a transaction on Friday, October 25th. The stock was sold at an average price of $45.00, for a total value of $45,000.00. Following the completion of the transaction, the president now directly owns 4,338,095 shares in the company, valued at $195,214,275. The disclosure for this sale can be found here. Insiders sold a total of 73,361 shares of company stock worth $3,523,549 over the last ninety days. Corporate insiders own 51.83% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the stock. Squarepoint Ops LLC purchased a new position in shares of QAD in the 3rd quarter worth $271,000. Zebra Capital Management LLC purchased a new position in QAD in the third quarter valued at about $235,000. Point72 Asset Management L.P. purchased a new position in QAD in the third quarter valued at about $2,853,000. California State Teachers Retirement System raised its position in QAD by 1.2% in the third quarter. California State Teachers Retirement System now owns 17,180 shares of the software maker’s stock valued at $793,000 after purchasing an additional 205 shares during the period. Finally, Boston Partners purchased a new position in QAD in the third quarter valued at about $810,000. 44.94% of the stock is currently owned by institutional investors and hedge funds.
QAD Company Profile
QAD Inc provides enterprise software solutions for manufacturing companies in the automotive, life sciences, consumer products, food and beverage, high technology, and industrial products industries worldwide. The company offers QAD Enterprise Applications, an integrated suite of software applications, which support the core business processes.
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