QAD (NASDAQ:QADA) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of QAD (NASDAQ:QADA) from a hold rating to a buy rating in a report released on Wednesday, Zacks.com reports. They currently have $46.00 price target 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 research analysts have also issued reports on the company. BidaskClub upgraded QAD from a hold rating to a buy rating in a research report on Tuesday, May 12th. Stifel Nicolaus dropped their target price on QAD from $58.00 to $40.00 and set a buy rating for the company in a research report on Thursday, March 19th. Sidoti dropped their target price on QAD from $60.00 to $50.00 and set a buy rating for the company in a research report on Thursday, March 19th. ValuEngine upgraded QAD from a hold rating to a buy rating in a research report on Monday, March 9th. Finally, B. Riley dropped their target price on QAD from $50.00 to $43.50 and set a buy rating for the company in a research report on Thursday, March 19th. Seven analysts have rated the stock with a buy rating, The company has an average rating of Buy and a consensus price target of $46.25.
QAD (NASDAQ:QADA) last issued its quarterly earnings data on Wednesday, March 18th. The software maker reported $0.02 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.10 by ($0.08). QAD had a negative return on equity of 3.95% and a negative net margin of 5.13%. The company had revenue of $78.60 million for the quarter, compared to the consensus estimate of $78.73 million. During the same period in the previous year, the firm earned $0.24 earnings per share. The company’s revenue was down 5.3% compared to the same quarter last year. As a group, research analysts expect that QAD will post -0.34 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 22nd were issued a $0.072 dividend. The ex-dividend date of this dividend was Tuesday, April 21st. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.68%. QAD’s payout ratio is -36.71%.
In related news, CFO Daniel Lender sold 2,570 shares of the business’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $42.85, for a total value of $110,124.50. Following the completion of the sale, the chief financial officer now owns 188,466 shares in the company, valued at $8,075,768.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Pamela M. Lopker sold 30,000 shares of the company’s stock in a transaction on Monday, April 20th. The stock was sold at an average price of $40.35, for a total value of $1,210,500.00. Following the sale, the president now owns 4,205,334 shares of the company’s stock, valued at approximately $169,685,226.90. The disclosure for this sale can be found here. Insiders sold 65,989 shares of company stock valued at $2,757,777 in the last quarter. 51.83% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the business. Capital Research Global Investors lifted its holdings in QAD by 41.3% during the first quarter. Capital Research Global Investors now owns 706,300 shares of the software maker’s stock worth $28,203,000 after buying an additional 206,371 shares during the period. Invesco Ltd. lifted its holdings in QAD by 19.1% during the first quarter. Invesco Ltd. now owns 5,972 shares of the software maker’s stock worth $238,000 after buying an additional 959 shares during the period. ArrowMark Colorado Holdings LLC lifted its holdings in QAD by 7.3% during the first quarter. ArrowMark Colorado Holdings LLC now owns 429,660 shares of the software maker’s stock worth $17,156,000 after buying an additional 29,272 shares during the period. Ranger Investment Management L.P. lifted its holdings in QAD by 1.8% during the first quarter. Ranger Investment Management L.P. now owns 120,625 shares of the software maker’s stock worth $4,817,000 after buying an additional 2,189 shares during the period. Finally, Wells Fargo & Company MN lifted its holdings in QAD by 72.5% during the first quarter. Wells Fargo & Company MN now owns 71,388 shares of the software maker’s stock worth $2,850,000 after buying an additional 29,999 shares during the period. Institutional investors own 49.33% of the company’s stock.
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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