QAD Inc. (NASDAQ:QADA) was the target of a large growth in short interest in the month of July. As of July 15th, there was short interest totalling 285,000 shares, a growth of 30.1% from the June 30th total of 219,000 shares. Approximately 2.4% of the shares of the company are short sold. Based on an average trading volume of 49,900 shares, the short-interest ratio is presently 5.7 days.
In other news, CFO Daniel Lender sold 8,523 shares of the company’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $41.02, for a total transaction of $349,613.46. Following the sale, the chief financial officer now directly owns 179,258 shares in the company, valued at $7,353,163.16. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Pamela M. Lopker sold 2,000 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $42.22, for a total value of $84,440.00. Following the sale, the president now owns 4,166,945 shares in the company, valued at $175,928,417.90. The disclosure for this sale can be found here. Insiders sold a total of 42,990 shares of company stock worth $1,853,679 over the last 90 days. 46.14% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently modified their holdings of QADA. Rhumbline Advisers boosted its stake in QAD by 2.0% in the first quarter. Rhumbline Advisers now owns 15,834 shares of the software maker’s stock worth $632,000 after buying an additional 309 shares in the last quarter. Alliancebernstein L.P. boosted its stake in QAD by 4.5% in the fourth quarter. Alliancebernstein L.P. now owns 11,600 shares of the software maker’s stock worth $591,000 after buying an additional 500 shares in the last quarter. Strs Ohio boosted its stake in QAD by 4.5% in the second quarter. Strs Ohio now owns 13,800 shares of the software maker’s stock worth $569,000 after buying an additional 600 shares in the last quarter. Cubist Systematic Strategies LLC boosted its stake in QAD by 360.0% in the fourth quarter. Cubist Systematic Strategies LLC now owns 920 shares of the software maker’s stock worth $47,000 after buying an additional 720 shares in the last quarter. Finally, Citigroup Inc. boosted its stake in QAD by 37.5% in the first quarter. Citigroup Inc. now owns 3,497 shares of the software maker’s stock worth $140,000 after buying an additional 953 shares in the last quarter. 48.76% of the stock is owned by institutional investors.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Thursday, June 25th were issued a dividend of $0.072 per share. This represents a $0.29 annualized dividend and a dividend yield of 0.73%. The ex-dividend date was Wednesday, June 24th. QAD’s payout ratio is -36.71%.
Several brokerages have recently weighed in on QADA. B. Riley upped their price target on QAD from $49.00 to $55.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. BidaskClub cut QAD from a “hold” rating to a “sell” rating in a research report on Tuesday, June 23rd. ValuEngine cut QAD from a “buy” rating to a “hold” rating in a research report on Thursday, July 2nd. Zacks Investment Research upgraded QAD from a “hold” rating to a “buy” rating and set a $46.00 price target on the stock in a research report on Wednesday, May 20th. Finally, Stifel Nicolaus boosted their price objective on QAD from $40.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $49.75.
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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