Allianz Asset Management AG cut its position in QAD Inc. (NASDAQ:QADA) by 19.1% during the fourth quarter, Holdings Channel reports. The firm owned 34,454 shares of the company’s stock after selling 8,129 shares during the period. Allianz Asset Management AG’s holdings in QAD were worth $1,047,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of QADA. Martingale Asset Management L P increased its position in QAD by 18.8% in the fourth quarter. Martingale Asset Management L P now owns 34,804 shares of the company’s stock worth $1,059,000 after buying an additional 5,499 shares during the period. Bessemer Group Inc. increased its position in QAD by 74.3% in the fourth quarter. Bessemer Group Inc. now owns 12,900 shares of the company’s stock worth $392,000 after buying an additional 5,500 shares during the period. State Street Corp increased its position in QAD by 3.3% in the fourth quarter. State Street Corp now owns 191,706 shares of the company’s stock worth $5,827,000 after buying an additional 6,110 shares during the period. Rutabaga Capital Management LLC MA increased its position in QAD by 4.1% in the third quarter. Rutabaga Capital Management LLC MA now owns 366,596 shares of the company’s stock worth $8,817,000 after buying an additional 14,350 shares during the period. Finally, Citadel Advisors LLC bought a new position in QAD during the third quarter worth $329,000. 47.49% of the stock is currently owned by institutional investors and hedge funds.
QAD Inc. (NASDAQ:QADA) opened at 27.65 on Tuesday. The stock has a 50 day moving average of $28.72 and a 200-day moving average of $26.68. The firm’s market capitalization is $525.46 million. QAD Inc. has a 1-year low of $18.35 and a 1-year high of $31.10.
QAD (NASDAQ:QADA) last announced its quarterly earnings data on Thursday, March 9th. The company reported $0.16 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.17 by $0.01. QAD had a net margin of 1.29% and a return on equity of 3.72%. The business earned $73.30 million during the quarter, compared to the consensus estimate of $73 million. During the same period in the previous year, the business posted $0.31 earnings per share. QAD’s revenue was up 5.8% compared to the same quarter last year. On average, equities research analysts anticipate that QAD Inc. will post $0.32 earnings per share for the current year.
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A number of research firms have recently weighed in on QADA. Stifel Nicolaus reaffirmed a “buy” rating and issued a $33.00 price target (up from $30.00) on shares of QAD in a research note on Friday, March 10th. TheStreet raised shares of QAD from a “hold” rating to a “buy” rating in a research note on Wednesday, November 30th. Benchmark Co. upped their price target on shares of QAD from $24.00 to $31.00 and gave the stock a “buy” rating in a research note on Wednesday, November 23rd. Zacks Investment Research raised shares of QAD from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, February 2nd. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $33.00 price target (up from $30.00) on shares of QAD in a research note on Saturday, March 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $32.00.
QAD Company Profile
QAD Inc (QAD) is a provider of vertically oriented enterprise software solutions for global manufacturing companies across the automotive, life sciences, consumer products, food and beverage, high technology and industrial products industries. QAD Enterprise Applications enables measurement and control of business processes and supports operational requirements, including financials, manufacturing, demand and supply chain planning, customer management, business intelligence and business process management.
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