CA, Inc. (CA) Rating Increased to Buy at Zacks Investment Research
CA, Inc. (NYSE:CA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The brokerage currently has a $35.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 10.13% from the stock’s previous close.
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.”
A number of other analysts have also recently weighed in on the stock. Hovde Group raised shares of CA from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $24.75 to $26.00 in a research report on Saturday, October 8th. Credit Suisse Group AG reissued a “hold” rating and issued a $34.00 price objective on shares of CA in a research report on Monday, August 29th. Citigroup Inc. upped their price objective on shares of CA from $32.00 to $33.00 and gave the company a “neutral” rating in a research report on Thursday, July 28th. JPMorgan Chase & Co. reissued a “hold” rating and issued a $35.00 price objective on shares of CA in a research report on Thursday, November 17th. Finally, Jefferies Group reissued a “buy” rating and issued a $38.00 price objective on shares of CA in a research report on Thursday, November 17th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.75.
CA (NYSE:CA) opened at 31.78 on Thursday. The stock has a market cap of $13.28 billion and a price-to-earnings ratio of 16.57. CA has a 12-month low of $25.18 and a 12-month high of $34.99. The company’s 50 day moving average price is $31.76 and its 200-day moving average price is $32.79.
CA (NYSE:CA) last announced its quarterly earnings results on Thursday, October 27th. The company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $1,000 million. During the same period last year, the company posted $0.56 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. On average, analysts forecast 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. Stockholders of record on Thursday, November 17th will be paid a $0.255 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $1.02 dividend on an annualized basis and a dividend yield of 3.21%.
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Several large investors have recently modified their holdings of the stock. Pinkerton Retirement Specialists LLC bought a new stake in shares of CA during the second quarter worth about $117,000. Penserra Capital Management LLC raised its stake in shares of CA by 100.0% in the third quarter. Penserra Capital Management LLC now owns 3,744 shares of the company’s stock worth $123,000 after buying an additional 1,872 shares during the period. Creative Planning raised its stake in shares of CA by 20.2% in the third quarter. Creative Planning now owns 4,106 shares of the company’s stock worth $136,000 after buying an additional 690 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in shares of CA by 69.9% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 4,208 shares of the company’s stock worth $138,000 after buying an additional 1,731 shares during the period. Finally, Global X Management Co. LLC raised its stake in shares of CA by 78.0% in the third quarter. Global X Management Co. LLC now owns 4,162 shares of the company’s stock worth $138,000 after buying an additional 1,824 shares during the period.
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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