California State Teachers Retirement System Cuts Position in QAD Inc. (QADA)

California State Teachers Retirement System lessened its holdings in QAD Inc. (NASDAQ:QADA) by 7.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,453 shares of the software maker’s stock after selling 1,500 shares during the quarter. California State Teachers Retirement System owned about 0.09% of QAD worth $559,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Wells Fargo & Company MN increased its holdings in QAD by 11.5% in the 2nd quarter. Wells Fargo & Company MN now owns 7,746 shares of the software maker’s stock worth $248,000 after buying an additional 796 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of QAD by 10.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 7,979 shares of the software maker’s stock worth $256,000 after purchasing an additional 786 shares during the period. Prudential Financial Inc. acquired a new stake in shares of QAD during the 2nd quarter worth approximately $309,000. Ameriprise Financial Inc. acquired a new stake in shares of QAD during the 2nd quarter worth approximately $322,000. Finally, Rhumbline Advisers grew its stake in shares of QAD by 0.8% during the 2nd quarter. Rhumbline Advisers now owns 10,799 shares of the software maker’s stock worth $346,000 after purchasing an additional 90 shares during the period. Institutional investors own 44.89% of the company’s stock.

QAD Inc. (NASDAQ QADA) opened at $36.00 on Wednesday. QAD Inc. has a 52-week low of $26.04 and a 52-week high of $42.00. The company has a current ratio of 1.59, a quick ratio of 1.59 and a debt-to-equity ratio of 0.12.

QAD (NASDAQ:QADA) last announced its quarterly earnings data on Tuesday, November 21st. The software maker reported ($0.01) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $76.93 million for the quarter, compared to analyst estimates of $73.99 million. QAD had a negative return on equity of 2.05% and a negative net margin of 6.40%. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.07 EPS. research analysts anticipate that QAD Inc. will post -0.25 earnings per share for the current year.

A number of brokerages have recently commented on QADA. Canaccord Genuity reaffirmed a “buy” rating and set a $44.00 price objective (up previously from $36.00) on shares of QAD in a research note on Wednesday, November 22nd. They noted that the move was a valuation call. Stifel Nicolaus raised their price objective on shares of QAD from $40.00 to $45.00 and gave the stock a “buy” rating in a research note on Wednesday, November 22nd. Zacks Investment Research cut shares of QAD from a “buy” rating to a “hold” rating in a research note on Saturday, October 28th. Finally, BidaskClub upgraded QAD from a “sell” rating to a “hold” rating in a research report on Tuesday, August 8th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $40.75.

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QAD 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.

Institutional Ownership by Quarter for QAD (NASDAQ:QADA)

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