QAD Inc. (QADA) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of QAD Inc. (NASDAQ:QADA) from a hold rating to a buy rating in a research report sent to investors on Thursday. They currently have $41.00 price target on the software maker’s stock.
According to Zacks, “QAD Inc. operates as a global provider of enterprise software applications, professional services and application support for manufacturing companies. The Company’s core product QAD Enterprise Applications is an integrated suite of software applications deployable in computer infrastructures, on demand and on premise deployment as well underlying databases, hardware platforms and operating systems. Solution suites offered are- QAD Standard Financials and QAD Enterprise Financials; QAD Customer Management; QAD Manufacturing suite; QAD Supply Chain; QAD Service and Support; QAD Enterprise Asset Management; QAD Transportation Management; QAD Analytics. Additionally, QAD also offer services for customer support; implementation; on demand and application management; migration and upgrade; and business consulting. Industries catered by the Company include automotive, consumer products, food and beverage, high technology, industrial products and life sciences. QAD Inc is headquartered in Santa Barbara, California. “
A number of other research firms have also weighed in on QADA. BidaskClub raised shares of QAD from a sell rating to a hold rating in a research note on Tuesday, August 8th. Stifel Nicolaus raised their target price on shares of QAD from $33.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, September 20th. William Blair reissued an outperform rating on shares of QAD in a research note on Wednesday, June 28th. Finally, Canaccord Genuity raised their target price on shares of QAD from $35.00 to $36.00 and gave the stock a buy rating in a research note on Monday, August 28th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. QAD has a consensus rating of Buy and an average price target of $37.00.
QAD (NASDAQ QADA) traded up 2.06% during midday trading on Thursday, hitting $37.20. The company had a trading volume of 26,102 shares. The company has a 50 day moving average price of $34.81 and a 200 day moving average price of $31.91. The firm’s market capitalization is $714.84 million. QAD has a 1-year low of $21.80 and a 1-year high of $37.55.
QAD (NASDAQ:QADA) last posted its quarterly earnings data on Friday, August 25th. The software maker reported ($0.05) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.12) by $0.07. QAD had a negative return on equity of 0.47% and a negative net margin of 5.98%. The company had revenue of $76.00 million for the quarter, compared to analysts’ expectations of $72.16 million. During the same period in the previous year, the firm posted $0.15 EPS. QAD’s revenue was up 8.9% compared to the same quarter last year. Equities research analysts forecast that QAD will post $0.32 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, October 3rd. Stockholders of record on Tuesday, September 26th were given a dividend of $0.072 per share. This represents a $0.29 annualized dividend and a dividend yield of 0.77%. The ex-dividend date was Monday, September 25th. QAD’s payout ratio is presently -30.85%.
Several hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its position in shares of QAD by 10.4% during the 2nd quarter. Renaissance Technologies LLC now owns 661,177 shares of the software maker’s stock valued at $21,191,000 after buying an additional 62,300 shares during the period. Vanguard Group Inc. raised its position in shares of QAD by 8.5% during the 2nd quarter. Vanguard Group Inc. now owns 399,989 shares of the software maker’s stock valued at $12,820,000 after buying an additional 31,322 shares during the period. Royce & Associates LP raised its position in shares of QAD by 12.6% during the 2nd quarter. Royce & Associates LP now owns 372,500 shares of the software maker’s stock valued at $11,939,000 after buying an additional 41,700 shares during the period. Divisar Capital Management LLC raised its position in shares of QAD by 11.0% during the 2nd quarter. Divisar Capital Management LLC now owns 291,645 shares of the software maker’s stock valued at $9,347,000 after buying an additional 28,879 shares during the period. Finally, State Street Corp raised its position in shares of QAD by 5.0% during the 2nd quarter. State Street Corp now owns 196,869 shares of the software maker’s stock valued at $6,309,000 after buying an additional 9,446 shares during the period. 43.67% of the stock is currently owned by hedge funds and other institutional investors.
QAD Inc (QAD) is a provider of vertically oriented enterprise software solutions for global manufacturing companies across the automotive, life sciences, consumer products, food and beverage, high technology and industrial products industries. QAD Enterprise Applications enables measurement and control of business processes and supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management.
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