CA Inc. (NASDAQ:CA) Lifted to Hold at Zacks Investment Research
Zacks Investment Research upgraded shares of CA Inc. (NASDAQ:CA) from a sell rating to a hold rating in a research report report published on Tuesday morning. The brokerage currently has $38.00 target price on the technology company’s stock.
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 research analysts have also issued reports on CA. Citigroup Inc. restated a neutral rating and set a $34.00 price target (up previously from $33.00) on shares of CA in a report on Sunday, May 14th. Jefferies Group LLC restated a buy rating and set a $38.00 price target 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 target for the company in a report on Monday, May 8th. Piper Jaffray Companies raised their price target on shares of CA from $42.00 to $45.00 and gave the stock 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 assigned a hold rating and five have issued a buy rating to the stock. The stock currently has an average rating of Hold and an average price target of $35.10.
Shares of CA (CA) traded up 0.03% during midday trading on Tuesday, reaching $34.49. 868,731 shares of the company’s stock traded hands. The stock has a market cap of $14.41 billion, a P/E ratio of 18.64 and a beta of 0.87. The stock has a 50-day moving average price of $32.41 and a 200-day moving average price of $32.25. CA has a 52-week low of $30.01 and a 52-week high of $36.54.
CA (NASDAQ:CA) last released its quarterly earnings results on Thursday, May 11th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.49 by $0.05. CA had a net margin of 19.20% and a return on equity of 17.15%. The firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $996.59 million. During the same quarter last year, the business earned $0.60 EPS. The company’s revenue was up .3% compared to the same quarter last year. Analysts forecast that CA will post $2.38 earnings per share for the current year.
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In other CA news, insider Ayman Sayed sold 30,194 shares of the business’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $35.62, for a total transaction of $1,075,510.28. Following the completion of the sale, the insider now owns 168,455 shares in the company, valued at approximately $6,000,367.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.90% of the company’s stock.
A number of hedge funds have recently made changes to their positions in CA. Fort Pitt Capital Group LLC raised its stake in shares of CA by 0.6% in the first quarter. Fort Pitt Capital Group LLC now owns 982,181 shares of the technology company’s stock worth $31,155,000 after buying an additional 6,328 shares during the period. TLP Group LLC acquired a new stake in shares of CA during the first quarter worth approximately $381,000. Cambridge Investment Research Advisors Inc. raised its stake in shares of CA by 24.3% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 78,590 shares of the technology company’s stock worth $2,493,000 after buying an additional 15,365 shares during the period. Victory Capital Management Inc. raised its stake in shares of CA by 36.4% in the first quarter. Victory Capital Management Inc. now owns 222,795 shares of the technology company’s stock worth $7,067,000 after buying an additional 59,398 shares during the period. Finally, Pacer Advisors Inc. raised its stake in shares of CA by 30.8% in the first quarter. Pacer Advisors Inc. now owns 14,114 shares of the technology company’s stock worth $448,000 after buying an additional 3,324 shares during the period. Institutional investors and hedge funds own 70.62% of the company’s stock.
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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