Rutabaga Capital Management LLC MA lowered its holdings in shares of QAD Inc. (NASDAQ:QADA) by 8.2% in the third quarter, HoldingsChannel.com reports. The firm owned 112,416 shares of the software maker’s stock after selling 10,100 shares during the quarter. Rutabaga Capital Management LLC MA’s holdings in QAD were worth $6,368,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also modified their holdings of the company. Virginia Retirement Systems ET AL acquired a new stake in QAD during the 3rd quarter worth $329,000. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in QAD during the 3rd quarter worth $386,000. Bahl & Gaynor Inc. acquired a new stake in QAD during the 3rd quarter worth $865,000. Wells Fargo & Company MN boosted its stake in QAD by 20.0% during the 3rd quarter. Wells Fargo & Company MN now owns 18,159 shares of the software maker’s stock worth $1,029,000 after purchasing an additional 3,023 shares during the period. Finally, Prudential Financial Inc. boosted its stake in QAD by 61.9% during the 3rd quarter. Prudential Financial Inc. now owns 26,541 shares of the software maker’s stock worth $1,503,000 after purchasing an additional 10,146 shares during the period. Hedge funds and other institutional investors own 45.36% of the company’s stock.
A number of analysts recently weighed in on the stock. BidaskClub upgraded shares of QAD from a “hold” rating to a “buy” rating in a research note on Wednesday, August 29th. Stifel Nicolaus reduced their target price on shares of QAD from $61.00 to $52.00 and set a “buy” rating for the company in a research note on Wednesday. Zacks Investment Research cut shares of QAD from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. Finally, B. Riley assumed coverage on shares of QAD in a research note on Wednesday, July 25th. They issued a “buy” rating and a $71.00 target price for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. QAD has an average rating of “Buy” and an average price target of $54.67.
QADA stock opened at $39.88 on Wednesday. QAD Inc. has a one year low of $34.90 and a one year high of $61.80. The firm has a market capitalization of $789.71 million, a PE ratio of -84.85 and a beta of 1.35. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.11.
QAD (NASDAQ:QADA) last released its earnings results on Tuesday, November 20th. The software maker reported $0.14 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. QAD had a negative net margin of 0.86% and a negative return on equity of 2.60%. The company had revenue of $79.58 million during the quarter, compared to analysts’ expectations of $81.12 million. During the same quarter last year, the business earned ($0.01) EPS. The business’s revenue was up 3.4% on a year-over-year basis. As a group, research analysts expect that QAD Inc. will post -0.02 EPS for the current year.
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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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