Bank of New York Mellon Corp increased its stake in shares of QAD Inc. (NASDAQ:QADA) by 3.3% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 69,426 shares of the software maker’s stock after buying an additional 2,214 shares during the period. Bank of New York Mellon Corp owned about 0.37% of QAD worth $1,933,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Strs Ohio boosted its position in shares of QAD by 61.0% in the first quarter. Strs Ohio now owns 19,000 shares of the software maker’s stock valued at $529,000 after buying an additional 7,200 shares during the last quarter. Whetstone Capital Advisors LLC bought a new position in shares of QAD during the first quarter valued at about $647,000. Nationwide Fund Advisors boosted its position in shares of QAD by 98.8% in the first quarter. Nationwide Fund Advisors now owns 24,548 shares of the software maker’s stock valued at $684,000 after buying an additional 12,199 shares during the last quarter. Essex Investment Management Co. LLC boosted its position in shares of QAD by 22.6% in the first quarter. Essex Investment Management Co. LLC now owns 60,016 shares of the software maker’s stock valued at $1,671,000 after buying an additional 11,078 shares during the last quarter. Finally, Acadian Asset Management LLC raised its stake in shares of QAD by 8.1% in the first quarter. Acadian Asset Management LLC now owns 109,867 shares of the software maker’s stock worth $3,058,000 after buying an additional 8,269 shares during the period. 52.18% of the stock is currently owned by institutional investors.
QAD Inc. (NASDAQ QADA) traded down 0.16% during midday trading on Wednesday, hitting $31.55. The stock had a trading volume of 12,176 shares. The company’s market capitalization is $600.36 million. QAD Inc. has a 1-year low of $19.50 and a 1-year high of $33.40. The stock’s 50-day moving average is $31.26 and its 200-day moving average is $30.01.
QAD (NASDAQ:QADA) last announced its earnings results on Thursday, May 25th. The software maker reported ($0.13) earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of ($0.13). QAD had a positive return on equity of 1.22% and a negative net margin of 5.49%. The business had revenue of $71.40 million during the quarter, compared to analyst estimates of $68.54 million. During the same quarter in the previous year, the business earned ($0.07) earnings per share. The company’s revenue for the quarter was up 9.2% compared to the same quarter last year. Equities research analysts forecast that QAD Inc. will post $0.33 EPS for the current year.
QADA has been the topic of a number of recent analyst reports. Zacks Investment Research upgraded QAD from a “hold” rating to a “buy” rating and set a $35.00 price target on the stock in a report on Wednesday, July 26th. ValuEngine upgraded QAD from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Sidoti started coverage on QAD in a research note on Wednesday, April 19th. They issued a “neutral” rating on the stock. BidaskClub lowered QAD from a “buy” rating to a “hold” rating in a research note on Saturday, July 8th. Finally, William Blair restated an “outperform” rating on shares of QAD in a research note on Wednesday, June 28th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $33.50.
QAD Company Profile
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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