Bahl & Gaynor Inc. Takes $865,000 Position in QAD Inc. (QADA)

Bahl & Gaynor Inc. acquired a new position in shares of QAD Inc. (NASDAQ:QADA) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 15,274 shares of the software maker’s stock, valued at approximately $865,000.

A number of other hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. increased its position in QAD by 3.9% during the 3rd quarter. BlackRock Inc. now owns 739,353 shares of the software maker’s stock worth $41,883,000 after purchasing an additional 28,043 shares in the last quarter. Northern Trust Corp increased its position in QAD by 9.4% during the 2nd quarter. Northern Trust Corp now owns 129,398 shares of the software maker’s stock worth $6,489,000 after purchasing an additional 11,092 shares in the last quarter. Acadian Asset Management LLC increased its position in QAD by 41.0% during the 3rd quarter. Acadian Asset Management LLC now owns 104,439 shares of the software maker’s stock worth $5,916,000 after purchasing an additional 30,363 shares in the last quarter. Bank of New York Mellon Corp increased its position in QAD by 4.8% during the 3rd quarter. Bank of New York Mellon Corp now owns 86,666 shares of the software maker’s stock worth $4,910,000 after purchasing an additional 3,933 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its position in QAD by 13.4% in the 3rd quarter. JPMorgan Chase & Co. now owns 33,082 shares of the software maker’s stock valued at $1,874,000 after acquiring an additional 3,919 shares during the period. Institutional investors and hedge funds own 45.36% of the company’s stock.

Shares of NASDAQ QADA opened at $45.08 on Friday. 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 Inc. has a 52-week low of $34.90 and a 52-week high of $61.80. The company has a market capitalization of $914.49 million, a price-to-earnings ratio of -95.91 and a beta of 1.35.

QAD (NASDAQ:QADA) last announced its quarterly earnings results on Tuesday, November 20th. The software maker reported $0.14 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.13 by $0.01. QAD had a net margin of 0.10% and a return on equity of 0.08%. The firm had revenue of $79.58 million during the quarter, compared to analysts’ expectations of $81.12 million. During the same period in the prior year, the company posted ($0.01) EPS. The company’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 earnings per share for the current year.

Several equities analysts have issued reports on the stock. BidaskClub upgraded shares of QAD from a “hold” rating to a “buy” rating in a research report on Wednesday, August 29th. Stifel Nicolaus upped their price target on shares of QAD from $53.00 to $61.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. B. Riley set a $62.00 price target on shares of QAD and gave the company a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of QAD from a “buy” rating to a “hold” rating in a research report on Wednesday, October 24th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. QAD has an average rating of “Buy” and a consensus target price of $54.67.

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About QAD

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.

Read More: Debt-To-Equity Ratio

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Institutional Ownership by Quarter for QAD (NASDAQ:QADA)

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