QAD (QADA) Rating Lowered to Hold at Zacks Investment Research

QAD (NASDAQ:QADA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.

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. “

Other equities research analysts have also recently issued research reports about the stock. Stifel Nicolaus lowered their target price on shares of QAD from $61.00 to $52.00 and set a “buy” rating on the stock in a report on Wednesday, November 21st. B. Riley set a $62.00 target price on shares of QAD and gave the company a “buy” rating in a report on Wednesday, November 21st. ValuEngine cut shares of QAD from a “strong-buy” rating to a “buy” rating in a report on Monday, February 4th. Finally, BidaskClub raised shares of QAD from a “strong sell” rating to a “sell” rating in a report on Friday, January 25th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $53.25.

QAD stock opened at $45.65 on Friday. QAD has a 12 month low of $38.39 and a 12 month high of $61.80. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.10. The company has a market capitalization of $911.97 million, a P/E ratio of -97.13 and a beta of 1.27.

In other QAD news, President Pamela M. Lopker sold 3,000 shares of the business’s stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $40.30, for a total transaction of $120,900.00. Following the sale, the president now owns 5,009,095 shares of the company’s stock, valued at approximately $201,866,528.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Pamela M. Lopker sold 2,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The shares were sold at an average price of $46.60, for a total transaction of $93,200.00. Following the sale, the president now directly owns 4,545,095 shares in the company, valued at approximately $211,801,427. The disclosure for this sale can be found here. Insiders have sold a total of 74,556 shares of company stock worth $3,129,781 in the last three months. Insiders own 43.70% of the company’s stock.

Hedge funds have recently modified their holdings of the business. Nantahala Capital Management LLC increased its holdings in shares of QAD by 21.1% in the fourth quarter. Nantahala Capital Management LLC now owns 1,008,709 shares of the software maker’s stock worth $39,672,000 after purchasing an additional 175,782 shares during the period. BlackRock Inc. increased its holdings in shares of QAD by 7.1% in the fourth quarter. BlackRock Inc. now owns 792,150 shares of the software maker’s stock worth $31,157,000 after purchasing an additional 52,797 shares during the period. Renaissance Technologies LLC increased its holdings in shares of QAD by 8.6% in the third quarter. Renaissance Technologies LLC now owns 660,577 shares of the software maker’s stock worth $37,422,000 after purchasing an additional 52,059 shares during the period. Marshall Wace LLP bought a new position in shares of QAD in the third quarter worth $2,392,000. Finally, Portolan Capital Management LLC increased its holdings in shares of QAD by 11.8% in the fourth quarter. Portolan Capital Management LLC now owns 342,671 shares of the software maker’s stock worth $13,477,000 after purchasing an additional 36,203 shares during the period. 44.42% of the stock is currently owned by institutional investors and hedge funds.

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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