Granite Investment Partners LLC decreased its position in QAD Inc. (NASDAQ:QADA) by 1.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,669 shares of the software maker’s stock after selling 638 shares during the quarter. Granite Investment Partners LLC’s holdings in QAD were worth $1,967,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. lifted its holdings in shares of QAD by 15.1% during the fourth quarter. Victory Capital Management Inc. now owns 3,137 shares of the software maker’s stock valued at $123,000 after purchasing an additional 411 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of QAD by 32.9% during the fourth quarter. Legal & General Group Plc now owns 1,947 shares of the software maker’s stock valued at $76,000 after purchasing an additional 482 shares during the last quarter. Swiss National Bank lifted its holdings in shares of QAD by 3.8% during the first quarter. Swiss National Bank now owns 19,300 shares of the software maker’s stock valued at $831,000 after purchasing an additional 700 shares during the last quarter. Parametric Portfolio Associates LLC lifted its holdings in shares of QAD by 5.1% during the first quarter. Parametric Portfolio Associates LLC now owns 21,441 shares of the software maker’s stock valued at $923,000 after purchasing an additional 1,038 shares during the last quarter. Finally, Quantamental Technologies LLC purchased a new stake in shares of QAD during the fourth quarter valued at $48,000. Institutional investors and hedge funds own 46.09% of the company’s stock.
QADA has been the subject of several analyst reports. Zacks Investment Research downgraded QAD from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. B. Riley set a $55.00 target price on QAD and gave the company a “buy” rating in a report on Thursday, March 21st. BidaskClub raised QAD from a “sell” rating to a “hold” rating in a report on Friday, March 1st. Finally, TheStreet downgraded QAD from a “b-” rating to a “c” rating in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $53.33.
NASDAQ:QADA traded down $0.32 during trading hours on Wednesday, hitting $41.82. 23 shares of the company’s stock traded hands, compared to its average volume of 58,109. The firm has a market capitalization of $834.32 million, a price-to-earnings ratio of 82.08 and a beta of 1.24. QAD Inc. has a twelve month low of $38.32 and a twelve month high of $61.80. The company has a current ratio of 1.47, a quick ratio of 1.47 and a debt-to-equity ratio of 0.10.
QAD (NASDAQ:QADA) last posted its quarterly earnings results on Wednesday, May 29th. The software maker reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.10. The firm had revenue of $78.00 million for the quarter, compared to analyst estimates of $78.25 million. QAD had a return on equity of 4.83% and a net margin of 1.78%. QAD’s quarterly revenue was down 9.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.06 earnings per share. Equities analysts forecast that QAD Inc. will post -0.26 earnings per share for the current year.
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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