QAD Inc. (QADA) Holdings Trimmed by Wedge Capital Management L L P NC
Wedge Capital Management L L P NC trimmed its position in QAD Inc. (NASDAQ:QADA) by 40.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,564 shares of the software maker’s stock after selling 9,836 shares during the period. Wedge Capital Management L L P NC owned approximately 0.07% of QAD worth $825,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its stake in QAD by 4.6% in the second quarter. Bank of New York Mellon Corp now owns 82,733 shares of the software maker’s stock valued at $4,149,000 after acquiring an additional 3,606 shares in the last quarter. BlackRock Inc. raised its holdings in shares of QAD by 1.0% in the first quarter. BlackRock Inc. now owns 647,245 shares of the software maker’s stock worth $26,958,000 after buying an additional 6,138 shares during the last quarter. Northern Trust Corp raised its holdings in shares of QAD by 9.4% in the second quarter. Northern Trust Corp now owns 129,398 shares of the software maker’s stock worth $6,489,000 after buying an additional 11,092 shares during the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of QAD by 41.0% in the third quarter. Acadian Asset Management LLC now owns 104,439 shares of the software maker’s stock worth $5,916,000 after buying an additional 30,363 shares during the last quarter. Institutional investors own 45.06% of the company’s stock.
QADA has been the subject of a number of research analyst reports. BidaskClub cut shares of QAD from a “sell” rating to a “strong sell” rating in a report on Thursday, October 11th. B. Riley initiated coverage on shares of QAD in a report on Wednesday, July 25th. They issued a “buy” rating and a $71.00 price target for the company. Stifel Nicolaus raised their price target on shares of QAD from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Finally, Zacks Investment Research cut shares of QAD from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. QAD has a consensus rating of “Buy” and an average price target of $60.67.
QAD (NASDAQ:QADA) last posted its quarterly earnings results on Wednesday, August 22nd. The software maker reported $0.05 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.07 by ($0.02). The company had revenue of $84.54 million during the quarter, compared to analysts’ expectations of $82.39 million. QAD had a negative return on equity of 2.60% and a negative net margin of 0.86%. The company’s quarterly revenue was up 11.3% on a year-over-year basis. During the same period in the prior year, the business posted ($0.06) EPS. Equities research analysts predict that QAD Inc. will post -0.02 EPS for the current fiscal year.
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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.
Further Reading: Outstanding Shares
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