Sanford C. Bernstein Reaffirms Underperform Rating for CA Inc. (CA)

CA Inc. (NASDAQ:CA)‘s stock had its “underperform” rating reissued by stock analysts at Sanford C. Bernstein in a research note issued on Wednesday. They presently have a $28.00 price target on the technology company’s stock. Sanford C. Bernstein’s target price would indicate a potential downside of 19.12% from the stock’s previous close.

Other research analysts have also issued reports about the company. Jefferies Group LLC reiterated a “buy” rating and issued a $38.00 price objective on shares of CA in a research report on Friday, April 28th. Zacks Investment Research upgraded CA from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Oppenheimer Holdings Inc. reiterated a “market perform” rating on shares of CA in a research report on Friday, May 12th. Raymond James Financial, Inc. reiterated a “market perform” rating on shares of CA in a research report on Thursday, June 22nd. Finally, Citigroup Inc. reiterated a “neutral” rating and issued a $34.00 price objective (up from $33.00) on shares of CA in a research report on Sunday, May 14th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $34.88.

Shares of CA (NASDAQ:CA) traded up 0.997% during midday trading on Wednesday, reaching $34.965. The company’s stock had a trading volume of 2,248,142 shares. The stock’s 50-day moving average is $31.93 and its 200-day moving average is $32.09. CA has a one year low of $30.01 and a one year high of $35.07. The company has a market capitalization of $14.61 billion, a P/E ratio of 18.900 and a beta of 0.92.

CA (NASDAQ:CA) last issued its quarterly earnings data on Thursday, May 11th. The technology company reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.49 by $0.05. The company had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.59 million. CA had a return on equity of 17.15% and a net margin of 19.20%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.60 earnings per share. On average, equities analysts expect that CA will post $2.38 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Thursday, May 25th were given a dividend of $0.255 per share. The ex-dividend date of this dividend was Tuesday, May 23rd. This represents a $1.02 annualized dividend and a dividend yield of 2.95%. CA’s dividend payout ratio is currently 55.14%.

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In other news, insider Ayman Sayed sold 30,194 shares of the firm’s stock in a transaction on Wednesday, June 21st. The stock was sold at an average price of $35.62, for a total transaction of $1,075,510.28. Following the completion of the transaction, the insider now directly owns 168,455 shares in the company, valued at $6,000,367.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 0.90% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Piedmont Investment Advisors LLC boosted its stake in shares of CA by 1.8% in the first quarter. Piedmont Investment Advisors LLC now owns 165,063 shares of the technology company’s stock valued at $5,236,000 after buying an additional 2,884 shares during the last quarter. Achmea Investment Management B.V. bought a new stake in shares of CA during the first quarter valued at about $4,647,000. Bank of Nova Scotia boosted its stake in shares of CA by 917.1% in the first quarter. Bank of Nova Scotia now owns 72,175 shares of the technology company’s stock valued at $2,289,000 after buying an additional 65,079 shares during the last quarter. Financial Advisors Network Inc. boosted its stake in shares of CA by 6.7% in the first quarter. Financial Advisors Network Inc. now owns 25,107 shares of the technology company’s stock valued at $794,000 after buying an additional 1,570 shares during the last quarter. Finally, Summit Global Investments boosted its stake in shares of CA by 15.8% in the first quarter. Summit Global Investments now owns 43,379 shares of the technology company’s stock valued at $1,376,000 after buying an additional 5,912 shares during the last quarter. Institutional investors and hedge funds own 71.69% of the company’s stock.

About CA

CA, Inc (CA) is engaged in providing software solutions enabling customers to plan, develop, manage and secure applications and enterprise environments across distributed, cloud, mobile and mainframe platforms. The Company operates through three business segments: Mainframe Solutions, Enterprise Solutions and Services.

Analyst Recommendations for CA (NASDAQ:CA)

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