Strs Ohio decreased its holdings in shares of QAD Inc. (NASDAQ:QADA) by 11.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,500 shares of the software maker’s stock after selling 1,700 shares during the period. Strs Ohio owned about 0.07% of QAD worth $764,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds have also modified their holdings of the company. Northern Trust Corp grew its position in QAD by 9.4% in the second quarter. Northern Trust Corp now owns 129,398 shares of the software maker’s stock valued at $6,489,000 after acquiring an additional 11,092 shares during the period. Bank of New York Mellon Corp grew its position 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 during the period. California Public Employees Retirement System grew its position in QAD by 20.2% in the first quarter. California Public Employees Retirement System now owns 39,459 shares of the software maker’s stock valued at $1,643,000 after acquiring an additional 6,627 shares during the period. Finally, BlackRock Inc. grew its position in QAD by 1.0% in the first quarter. BlackRock Inc. now owns 647,245 shares of the software maker’s stock valued at $26,958,000 after acquiring an additional 6,138 shares during the period. 45.06% of the stock is owned by hedge funds and other institutional investors.
QADA has been the topic of a number of analyst reports. BidaskClub cut QAD from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd. Zacks Investment Research cut QAD from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. Stifel Nicolaus increased their target price on QAD from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Finally, B. Riley began coverage on QAD in a report on Wednesday, July 25th. They set a “buy” rating and a $71.00 target price on the stock. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $60.67.
Shares of QADA stock opened at $41.95 on Wednesday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.11. The firm has a market cap of $816.00 million, a PE ratio of -89.26 and a beta of 1.35. QAD Inc. has a 52 week low of $34.90 and a 52 week high of $61.80.
QAD (NASDAQ:QADA) last issued its quarterly earnings data on Wednesday, August 22nd. The software maker reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.02). The company had revenue of $84.54 million for the quarter, compared to the consensus estimate of $82.39 million. QAD had a negative return on equity of 2.60% and a negative net margin of 0.86%. The business’s revenue for the quarter was up 11.3% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.06) earnings per share. As a group, equities analysts predict that QAD Inc. will post -0.02 EPS for the current year.
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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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