CA Inc. (NASDAQ:CA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “CA is a leading information technology (IT) management software company. We are optimistic about CA’s acquisition strategy, which has enhanced its IT management, software and services portfolio. Moreover, we believe that the diversity of its products and the increased efficiency offered by them will attract customers across sectors, lending stability to its business model. Additionally, CA’s “go to market” sales strategy integrates the commercial functions of sales, marketing, brand management, pricing and consumer insight, which helps it in lowering costs, thereby improving the bottom line. Nonetheless, intensifying competition from peers, an uncertain economic environment, currency headwinds and the weak IT spending forecast by Gartner are other concerns. Notably, shares of the company has underperformed the broader market over the last one year period.”
Several other analysts have also issued reports on CA. Citigroup Inc. restated a “neutral” rating and issued a $34.00 price objective (up from $33.00) on shares of CA in a report on Sunday, May 14th. Jefferies Group LLC restated a “buy” rating and issued a $38.00 price objective on shares of CA in a report on Sunday, May 14th. Raymond James Financial, Inc. upgraded shares of CA from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Monday, May 8th. Piper Jaffray Companies boosted their price objective on shares of CA from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, April 17th. Finally, DA Davidson lowered shares of CA from a “buy” rating to a “neutral” rating in a report on Monday, April 10th. Four equities 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 stock currently has a consensus rating of “Hold” and a consensus price target of $35.10.
CA (CA) opened at 34.06 on Monday. The company has a 50-day moving average of $33.34 and a 200 day moving average of $32.43. The stock has a market cap of $14.23 billion, a P/E ratio of 18.41 and a beta of 0.87. CA has a 1-year low of $30.01 and a 1-year high of $36.54.
CA (NASDAQ:CA) last issued its quarterly earnings data on Thursday, May 11th. The technology company reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.49 by $0.05. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $996.59 million. CA had a net margin of 19.20% and a return on equity of 17.15%. CA’s revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Analysts predict that CA will post $2.38 EPS for the current year.
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In related news, insider Ayman Sayed sold 30,194 shares of the company’s stock in a transaction that occurred on Wednesday, June 21st. The stock was sold at an average price of $35.62, for a total value of $1,075,510.28. Following the completion of the transaction, the insider now directly owns 168,455 shares of the company’s stock, valued at $6,000,367.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.90% of the company’s stock.
Several large investors have recently bought and sold shares of CA. Alpha Windward LLC increased its stake in CA by 5.2% in the second quarter. Alpha Windward LLC now owns 9,762 shares of the technology company’s stock valued at $336,000 after buying an additional 482 shares during the last quarter. Louisiana State Employees Retirement System boosted its stake in CA by 0.5% in the second quarter. Louisiana State Employees Retirement System now owns 19,400 shares of the technology company’s stock valued at $669,000 after buying an additional 100 shares during the period. Jarislowsky Fraser Ltd boosted its stake in CA by 1.1% in the second quarter. Jarislowsky Fraser Ltd now owns 2,679,339 shares of the technology company’s stock valued at $92,356,000 after buying an additional 30,040 shares during the period. LS Investment Advisors LLC boosted its stake in CA by 4.9% in the second quarter. LS Investment Advisors LLC now owns 19,567 shares of the technology company’s stock valued at $674,000 after buying an additional 913 shares during the period. Finally, Exane Derivatives boosted its stake in CA by 40.1% in the second quarter. Exane Derivatives now owns 10,815 shares of the technology company’s stock valued at $373,000 after buying an additional 3,093 shares during the period. 70.62% of the stock is owned by institutional investors and hedge funds.
CA Company Profile
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.
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