QAD Inc. (NASDAQ:QADA) Holdings Reduced by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its stake in shares of QAD Inc. (NASDAQ:QADA) by 34.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,332 shares of the software maker’s stock after selling 35,127 shares during the quarter. Granite Investment Partners LLC owned about 0.35% of QAD worth $2,313,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of QADA. American International Group Inc. increased its stake in QAD by 7.0% in the 1st quarter. American International Group Inc. now owns 5,794 shares of the software maker’s stock worth $161,000 after purchasing an additional 378 shares in the last quarter. Vanguard Group Inc. increased its stake in QAD by 7.6% in the 1st quarter. Vanguard Group Inc. now owns 368,667 shares of the software maker’s stock worth $10,267,000 after purchasing an additional 25,913 shares in the last quarter. Geode Capital Management LLC increased its stake in QAD by 4.1% in the 1st quarter. Geode Capital Management LLC now owns 62,420 shares of the software maker’s stock worth $1,738,000 after purchasing an additional 2,481 shares in the last quarter. Bank of America Corp DE increased its stake in QAD by 0.7% in the 1st quarter. Bank of America Corp DE now owns 62,560 shares of the software maker’s stock worth $1,742,000 after purchasing an additional 450 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in QAD by 111.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 22,344 shares of the software maker’s stock worth $623,000 after purchasing an additional 11,760 shares in the last quarter. Institutional investors and hedge funds own 44.89% of the company’s stock.

Shares of QAD Inc. (NASDAQ QADA) traded up $1.25 during trading on Thursday, hitting $37.85. The stock had a trading volume of 51,353 shares, compared to its average volume of 37,127. The company has a debt-to-equity ratio of 0.12, a current ratio of 1.59 and a quick ratio of 1.59. QAD Inc. has a fifty-two week low of $26.04 and a fifty-two week high of $42.00.

QAD (NASDAQ:QADA) last announced its quarterly earnings results on Tuesday, November 21st. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. QAD had a negative return on equity of 2.05% and a negative net margin of 6.40%. The business had revenue of $76.93 million during the quarter, compared to analyst estimates of $73.99 million. During the same period in the previous year, the company earned $0.07 EPS. The firm’s revenue was up 10.6% on a year-over-year basis. equities analysts expect that QAD Inc. will post -0.25 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on QADA shares. Canaccord Genuity lifted their price target on QAD from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Monday, August 28th. Stifel Nicolaus raised their price objective on QAD from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 20th. Finally, Zacks Investment Research upgraded QAD from a “hold” rating to a “buy” rating and set a $41.00 price objective for the company in a research report on Thursday, October 19th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $40.75.

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QAD Profile

QAD Inc (QAD) is a provider of vertically oriented enterprise software solutions for global manufacturing companies across the automotive, life sciences, consumer products, food and beverage, high technology and industrial products industries. QAD Enterprise Applications enables measurement and control of business processes and supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management.

Institutional Ownership by Quarter for QAD (NASDAQ:QADA)

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