QAD (NASDAQ:QADA) Cut to “Buy” at ValuEngine

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QAD (NASDAQ:QADA) was downgraded by research analysts at ValuEngine from a “strong-buy” rating to a “buy” rating in a research note issued on Thursday, ValuEngine reports.

A number of other equities analysts have also issued reports on the company. Zacks Investment Research upgraded QAD from a “hold” rating to a “buy” rating and set a $44.00 target price for the company in a research note on Tuesday, August 13th. BidaskClub upgraded QAD from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 27th. William Blair reiterated an “outperform” rating on shares of QAD in a research note on Wednesday, August 28th. Finally, B. Riley set a $55.00 price objective on QAD and gave the company a “buy” rating in a research note on Friday, August 16th. Five analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. QAD currently has an average rating of “Buy” and an average target price of $50.33.

Shares of QADA stock opened at $45.67 on Thursday. The firm has a market capitalization of $932.41 million, a price-to-earnings ratio of 218.24 and a beta of 1.07. The company has a debt-to-equity ratio of 0.23, a current ratio of 1.48 and a quick ratio of 1.48. The business has a fifty day moving average of $42.97 and a 200 day moving average of $43.23. QAD has a 1 year low of $35.00 and a 1 year high of $49.65.

QAD (NASDAQ:QADA) last issued its earnings results on Wednesday, August 21st. The software maker reported ($0.02) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.23) by $0.21. The company had revenue of $76.38 million during the quarter, compared to analyst estimates of $77.89 million. QAD had a positive return on equity of 2.27% and a negative net margin of 2.70%. The firm’s quarterly revenue was down 9.7% on a year-over-year basis. During the same quarter last year, the business posted $0.05 EPS. As a group, equities research analysts expect that QAD will post -0.47 earnings per share for the current year.

In other QAD news, President Pamela M. Lopker sold 6,000 shares of QAD stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $40.99, for a total transaction of $245,940.00. Following the completion of the transaction, the president now owns 4,429,873 shares in the company, valued at approximately $181,580,494.27. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Pamela M. Lopker sold 5,000 shares of QAD stock in a transaction dated Wednesday, July 17th. The shares were sold at an average price of $43.58, for a total value of $217,900.00. Following the transaction, the president now owns 4,456,095 shares of the company’s stock, valued at approximately $194,196,620.10. The disclosure for this sale can be found here. Insiders have sold a total of 60,995 shares of company stock valued at $2,655,891 in the last quarter. Company insiders own 51.83% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Swiss National Bank raised its stake in shares of QAD by 2.6% during the 2nd quarter. Swiss National Bank now owns 19,800 shares of the software maker’s stock valued at $796,000 after buying an additional 500 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in shares of QAD by 2.0% during the 2nd quarter. Bahl & Gaynor Inc. now owns 26,919 shares of the software maker’s stock valued at $1,083,000 after buying an additional 524 shares during the last quarter. Bank of Montreal Can acquired a new stake in shares of QAD during the 2nd quarter valued at about $38,000. Marshall Wace North America L.P. acquired a new stake in shares of QAD during the 1st quarter valued at about $41,000. Finally, Bessemer Group Inc. grew its position in shares of QAD by 3.1% during the 2nd quarter. Bessemer Group Inc. now owns 37,000 shares of the software maker’s stock valued at $1,488,000 after acquiring an additional 1,100 shares during the period. Institutional investors and hedge funds own 43.81% of the company’s stock.

About QAD

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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