Zacks Investment Research Upgrades CA, Inc. (CA) to Buy
CA, Inc. (NYSE:CA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday. The brokerage currently has a $35.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 11.18% from the stock’s current price.
According to Zacks, “CA is a leading information technology (IT) management software company founded in 1974 and headquartered in Islandia, NY. CA’s strategy of expanding the cloud business through acquisitions is impressive. The wide range of products should attract customers across sectors, lending stability to the business model. On the cost front, CA’s “go to market” sales strategy integrates the commercial functions of sales, marketing, brand management, pricing and consumer insight, which helps it lower costs and boost its bottom line. A modest cash position and regular share repurchase are also encouraging. However, intensifying competition, an uncertain economic environment, currency headwinds and the weak IT spending forecast by Gartner are concerns.”
CA has been the topic of several other reports. JPMorgan Chase & Co. restated a “hold” rating and set a $35.00 price target on shares of CA in a research report on Thursday. Hovde Group upgraded CA from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $24.75 to $26.00 in a research report on Saturday, October 8th. Credit Suisse Group AG restated a “hold” rating and set a $34.00 price target on shares of CA in a research report on Monday, August 29th. Jefferies Group lifted their price target on CA from $36.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, July 28th. Finally, Citigroup Inc. boosted their target price on CA from $32.00 to $33.00 and gave the stock a “neutral” rating in a report on Thursday, July 28th. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $33.75.
Shares of CA (NYSE:CA) opened at 31.01 on Thursday. The stock’s 50 day moving average price is $32.00 and its 200 day moving average price is $32.72. The stock has a market capitalization of $12.96 billion and a price-to-earnings ratio of 16.17. CA has a 12 month low of $25.18 and a 12 month high of $34.99.
CA (NYSE:CA) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.67 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.05. The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1,000 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 1.3% compared to the same quarter last year. Analysts expect that CA will post $2.53 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Thursday, November 17th will be issued a $0.255 dividend. This represents a $1.02 annualized dividend and a yield of 3.24%. The ex-dividend date is Tuesday, November 15th.
A number of large investors have recently added to or reduced their stakes in CA. First National Bank of Mount Dora Trust Investment Services bought a new stake in CA during the third quarter valued at approximately $1,463,000. Bank of New York Mellon Corp increased its position in shares of CA by 12.4% in the second quarter. Bank of New York Mellon Corp now owns 25,992,761 shares of the company’s stock worth $853,342,000 after buying an additional 2,866,538 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in shares of CA during the second quarter worth about $277,000. Oregon Public Employees Retirement Fund increased its position in shares of CA by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 64,654 shares of the company’s stock worth $2,123,000 after buying an additional 497 shares during the last quarter. Finally, Alambic Investment Management L.P. acquired a new position in shares of CA during the second quarter worth about $407,000.
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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