QAD (NASDAQ:QADA) Raised to Buy at Zacks Investment Research

Zacks Investment Research upgraded shares of QAD (NASDAQ:QADA) from a hold rating to a buy rating in a research note published on Wednesday morning, Zacks.com reports. The firm currently has $48.00 target price on the software maker’s stock.

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. “

QADA has been the topic of several other reports. BidaskClub raised QAD from a sell rating to a hold rating in a research report on Thursday, July 4th. ValuEngine raised QAD from a hold rating to a buy rating in a research report on Tuesday, July 2nd. Finally, TheStreet downgraded QAD from a b- rating to a c rating in a research report on Wednesday, May 29th. Five research analysts have rated the stock with a buy rating, QAD currently has an average rating of Buy and an average target price of $51.67.

Shares of QADA opened at $41.73 on Wednesday. QAD has a 12 month low of $38.32 and a 12 month high of $61.80. The firm’s fifty day simple moving average is $41.92. The company has a debt-to-equity ratio of 0.18, a quick ratio of 1.47 and a current ratio of 1.47. The stock has a market cap of $834.57 million, a price-to-earnings ratio of 151.79 and a beta of 1.09.

QAD (NASDAQ:QADA) last issued its quarterly earnings data on Wednesday, May 29th. The software maker reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.26) by $0.10. QAD had a return on equity of 4.81% and a net margin of 1.78%. The firm had revenue of $78.00 million during the quarter, compared to analyst estimates of $78.25 million. During the same quarter in the prior year, the business posted $0.06 EPS. The business’s revenue for the quarter was down 9.5% compared to the same quarter last year. Research analysts forecast that QAD will post -0.26 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 17th. Investors of record on Wednesday, July 10th were given a $0.072 dividend. This represents a $0.29 annualized dividend and a dividend yield of 0.69%. The ex-dividend date was Tuesday, July 9th. QAD’s payout ratio is 56.86%.

In related news, President Pamela M. Lopker sold 6,000 shares of the company’s stock in a transaction on Monday, May 6th. The stock was sold at an average price of $47.57, for a total value of $285,420.00. Following the transaction, the president now directly owns 4,475,095 shares of the company’s stock, valued at approximately $212,880,269.15. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Leslie Stretch sold 4,000 shares of the company’s stock in a transaction on Tuesday, June 11th. The shares were sold at an average price of $42.19, for a total value of $168,760.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 43,900 shares of company stock worth $1,944,477. 51.83% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its position in QAD by 32.9% during the 4th quarter. Legal & General Group Plc now owns 1,947 shares of the software maker’s stock worth $76,000 after purchasing an additional 482 shares during the period. Swiss National Bank grew its position in QAD by 2.6% during the 2nd quarter. Swiss National Bank now owns 19,800 shares of the software maker’s stock worth $796,000 after purchasing an additional 500 shares during the period. Marshall Wace North America L.P. acquired a new stake in QAD during the 1st quarter worth about $41,000. Bessemer Group Inc. grew its position in QAD by 3.1% during the 2nd quarter. Bessemer Group Inc. now owns 37,000 shares of the software maker’s stock worth $1,488,000 after purchasing an additional 1,100 shares during the period. Finally, Two Sigma Investments LP grew its position in QAD by 8.4% during the 4th quarter. Two Sigma Investments LP now owns 20,361 shares of the software maker’s stock worth $801,000 after purchasing an additional 1,585 shares during the period. 46.78% of the stock is currently owned by hedge funds and other institutional investors.

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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