QAD (NASDAQ:QADA) Lowered to Hold at Zacks Investment Research

QAD (NASDAQ:QADA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

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 have also commented on QADA. BidaskClub lowered QAD from a “buy” rating to a “hold” rating in a research note on Friday. TheStreet lowered QAD from a “b-” rating to a “c” rating in a research note on Wednesday, May 29th. Finally, ValuEngine upgraded QAD from a “hold” rating to a “buy” rating in a research note on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. QAD currently has a consensus rating of “Buy” and an average target price of $51.67.

Shares of NASDAQ QADA traded down $0.70 during midday trading on Friday, hitting $39.19. 39,643 shares of the stock traded hands, compared to its average volume of 41,920. The stock has a 50-day moving average price of $41.82. The stock has a market capitalization of $780.18 million, a price-to-earnings ratio of 76.84 and a beta of 1.09. The company has a quick ratio of 1.47, a current ratio of 1.47 and a debt-to-equity ratio of 0.18. QAD has a one year low of $38.32 and a one year high of $61.80.

QAD (NASDAQ:QADA) last released its quarterly earnings results on Wednesday, May 29th. The software maker reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. The firm had revenue of $78.00 million for the quarter, compared to analysts’ expectations of $78.25 million. QAD had a return on equity of 4.81% and a net margin of 1.78%. The company’s revenue was down 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.06 EPS. On average, equities analysts anticipate that QAD will post -0.26 earnings per share for the current year.

In other news, Director Leslie Stretch sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was sold at an average price of $42.19, for a total value of $168,760.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, President Pamela M. Lopker sold 5,217 shares of the company’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $42.73, for a total value of $222,922.41. Following the completion of the sale, the president now owns 4,472,878 shares of the company’s stock, valued at $191,126,076.94. The disclosure for this sale can be found here. Insiders sold a total of 31,117 shares of company stock valued at $1,331,692 over the last 90 days. 51.83% of the stock is currently owned by company insiders.

Large investors have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. lifted its stake in shares of QAD by 4.8% in the second quarter. Charles Schwab Investment Management Inc. now owns 63,281 shares of the software maker’s stock valued at $2,545,000 after purchasing an additional 2,907 shares during the period. Bank of Montreal Can purchased a new position in QAD during the 2nd quarter valued at about $38,000. Panagora Asset Management Inc. increased its holdings in QAD by 11.0% during the 2nd quarter. Panagora Asset Management Inc. now owns 63,232 shares of the software maker’s stock valued at $2,543,000 after acquiring an additional 6,252 shares in the last quarter. Wells Fargo & Company MN increased its holdings in QAD by 5.6% during the 2nd quarter. Wells Fargo & Company MN now owns 25,619 shares of the software maker’s stock valued at $1,029,000 after acquiring an additional 1,365 shares in the last quarter. Finally, Swiss National Bank increased its holdings in QAD by 2.6% during the 2nd quarter. Swiss National Bank now owns 19,800 shares of the software maker’s stock valued at $796,000 after acquiring an additional 500 shares in the last quarter. Hedge funds and other institutional investors own 46.82% of the company’s stock.

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.

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