Zacks Investment Research cut shares of QAD (NASDAQ:QADA) from a buy rating to a hold rating in a research note published on Friday.
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. “
Several other equities research analysts also recently issued reports on the stock. BidaskClub upgraded shares of QAD from a sell rating to a hold rating in a research note on Friday, March 1st. ValuEngine downgraded shares of QAD from a strong-buy rating to a buy rating in a research note on Monday, February 4th. Stifel Nicolaus decreased their price target on shares of QAD from $61.00 to $52.00 and set a buy rating on the stock in a research note on Wednesday, November 21st. Finally, B. Riley set a $62.00 price target on shares of QAD and gave the stock a buy rating in a research note on Wednesday, November 21st. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of Buy and an average price target of $53.75.
Shares of QAD stock opened at $45.25 on Friday. The firm has a market capitalization of $896.27 million, a PE ratio of -96.28 and a beta of 1.27. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.61 and a current ratio of 1.61. QAD has a 1 year low of $38.39 and a 1 year high of $61.80.
In other QAD news, President Pamela M. Lopker sold 4,000 shares of QAD stock in a transaction on Friday, January 4th. The shares were sold at an average price of $40.50, for a total transaction of $162,000.00. Following the sale, the president now owns 4,994,095 shares in the company, valued at $202,260,847.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Pamela M. Lopker sold 5,000 shares of QAD stock in a transaction on Monday, January 7th. The stock was sold at an average price of $40.91, for a total transaction of $204,550.00. Following the sale, the president now owns 4,989,095 shares in the company, valued at approximately $204,103,876.45. The disclosure for this sale can be found here. Insiders have sold 73,556 shares of company stock worth $3,101,881 in the last quarter. Corporate insiders own 43.70% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of QADA. Bank of New York Mellon Corp lifted its holdings in shares of QAD by 4.6% during 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. Northern Trust Corp lifted its holdings in shares of QAD by 9.4% during 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. Wells Fargo & Company MN lifted its holdings in shares of QAD by 20.0% during the third quarter. Wells Fargo & Company MN now owns 18,159 shares of the software maker’s stock valued at $1,029,000 after acquiring an additional 3,023 shares during the period. Virginia Retirement Systems ET AL bought a new position in shares of QAD during the third quarter valued at $329,000. Finally, Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of QAD during the third quarter valued at $386,000. 44.42% of the stock is owned by institutional investors.
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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