QAD Inc. (NASDAQ:QADB) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 800 shares, a drop of 38.5% from the May 30th total of 1,300 shares. Currently, 0.1% of the shares of the stock are sold short. Based on an average daily volume of 1,900 shares, the days-to-cover ratio is presently 0.4 days.
Separately, TheStreet lowered shares of Virtusa from a “b-” rating to a “c+” rating in a report on Wednesday, May 29th.
A hedge fund recently raised its stake in QAD stock. Cutler Group LP boosted its stake in shares of QAD Inc. (NASDAQ:QADB) by 13.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,965 shares of the software maker’s stock after buying an additional 701 shares during the quarter. Cutler Group LP’s holdings in QAD were worth $184,000 as of its most recent SEC filing. Institutional investors own 1.85% of the company’s stock.
QAD (NASDAQ:QADB) last released its earnings results on Wednesday, May 29th. The software maker reported ($0.16) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.08). The firm had revenue of $78.04 million during the quarter. QAD had a return on equity of 4.80% and a net margin of 1.78%.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 17th. Stockholders of record on Wednesday, July 10th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Tuesday, July 9th. This represents a $0.24 annualized dividend and a dividend yield of 0.75%.
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 Cloud ERP and QAD Enterprise Applications, an integrated suite of software applications, which support the core business processes.
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