Dynamic Technology Lab Private Ltd acquired a new stake in shares of QAD Inc. (NASDAQ:QADA) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 6,529 shares of the software maker’s stock, valued at approximately $224,000.
Several other institutional investors have also recently made changes to their positions in QADA. Macquarie Group Ltd. bought a new position in QAD during the 3rd quarter worth approximately $196,000. Wells Fargo & Company MN grew its position in QAD by 11.5% during the 2nd quarter. Wells Fargo & Company MN now owns 7,746 shares of the software maker’s stock worth $248,000 after acquiring an additional 796 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in 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 acquiring an additional 786 shares during the last quarter. Prudential Financial Inc. bought a new position in QAD during the 2nd quarter worth approximately $309,000. Finally, Ameriprise Financial Inc. bought a new position in QAD during the 2nd quarter worth approximately $322,000. Hedge funds and other institutional investors own 44.89% of the company’s stock.
Several equities analysts recently issued reports on the company. Canaccord Genuity restated a “buy” rating and set a $44.00 price target (up from $36.00) on shares of QAD in a research report on Wednesday, November 22nd. They noted that the move was a valuation call. Stifel Nicolaus increased their price objective on QAD from $40.00 to $45.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Finally, Zacks Investment Research cut QAD from a “buy” rating to a “hold” rating in a report on Saturday, October 28th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $40.75.
QAD (NASDAQ:QADA) last released its quarterly earnings data on Tuesday, November 21st. The software maker reported ($0.01) earnings per share for the quarter, topping the consensus estimate of ($0.04) by $0.03. The business had revenue of $76.93 million during the quarter, compared to analysts’ expectations of $73.99 million. QAD had a negative return on equity of 2.05% and a negative net margin of 6.40%. The business’s revenue was up 10.6% on a year-over-year basis. During the same quarter last year, the business posted $0.07 EPS. equities analysts predict that QAD Inc. will post -0.25 EPS for the current fiscal year.
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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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