Zacks Investment Research Upgrades CA (NASDAQ:CA) to “Buy”

CA (NASDAQ:CA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, February 2nd. The firm currently has a $40.00 price objective on the technology company’s stock. Zacks Investment Research‘s price target points to a potential upside of 17.58% from the stock’s current price.

According to Zacks, “CA reported better-than-expected third-quarter fiscal 2018 results. The company's upbeat earnings guidance for fiscal 2018 makes us optimistic about its growth prospect. We are positive about CA’s acquisition strategy, which has enhanced its IT management, software and services portfolio. Moreover, we believe that the diversity of its products and the increased efficiency offered by them will attract customers across sectors, lending stability to its business model. Additionally, CA’s “go to market” sales strategy integrates the commercial functions of sales, marketing, brand management, pricing and consumer insight, which helps it in lowering costs, thereby improving the bottom line. Nonetheless, intensifying competition from peers, an uncertain economic environment and currency headwinds are other concerns. Notably, the stock has underperformed the industry in the last one year.”

Several other research analysts have also recently issued reports on CA. Oppenheimer restated a “hold” rating on shares of CA in a report on Wednesday, January 31st. Barclays increased their target price on CA from $34.00 to $37.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 31st. Jefferies Group reissued a “buy” rating and issued a $41.00 target price on shares of CA in a research note on Wednesday, January 31st. Credit Suisse Group raised their price target on CA from $34.00 to $36.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 31st. Finally, BidaskClub raised CA from a “sell” rating to a “hold” rating in a research report on Friday, January 26th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $34.23.

CA (NASDAQ:CA) traded up $0.57 on Friday, reaching $34.02. 2,865,400 shares of the company were exchanged, compared to its average volume of 2,686,884. The firm has a market capitalization of $13,946.11, a price-to-earnings ratio of 33.68, a PEG ratio of 4.23 and a beta of 0.70. CA has a 52-week low of $30.45 and a 52-week high of $36.56. The company has a quick ratio of 1.24, a current ratio of 1.24 and a debt-to-equity ratio of 0.44.

CA (NASDAQ:CA) last posted its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.20. CA had a net margin of 10.23% and a return on equity of 16.52%. The firm had revenue of $1.09 billion for the quarter, compared to analyst estimates of $1.07 billion. During the same period in the previous year, the business posted $0.63 earnings per share. CA’s quarterly revenue was up 8.5% on a year-over-year basis. equities analysts anticipate that CA will post 2.37 EPS for the current year.

A number of hedge funds have recently bought and sold shares of CA. Bank of New York Mellon Corp raised its stake in CA by 12.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 30,244,351 shares of the technology company’s stock valued at $1,009,556,000 after buying an additional 3,240,645 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in shares of CA by 541.5% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 3,150,132 shares of the technology company’s stock worth $105,151,000 after buying an additional 2,659,100 shares in the last quarter. Cornerstone Capital Management Holdings LLC. grew its position in shares of CA by 1,758.9% during the third quarter. Cornerstone Capital Management Holdings LLC. now owns 1,219,309 shares of the technology company’s stock worth $40,699,000 after buying an additional 1,153,717 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of CA during the third quarter worth approximately $22,192,000. Finally, Pictet Asset Management Ltd. grew its position in shares of CA by 182.0% during the third quarter. Pictet Asset Management Ltd. now owns 909,370 shares of the technology company’s stock worth $30,355,000 after buying an additional 586,900 shares in the last quarter. Hedge funds and other institutional investors own 68.98% of the company’s stock.

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About CA

CA, Inc (CA) is engaged in providing software solutions enabling customers to plan, develop, manage and secure applications and enterprise environments across distributed, cloud, mobile and mainframe platforms. The Company operates through three business segments: Mainframe Solutions, Enterprise Solutions and Services.

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