Canaccord Genuity Reaffirms Buy Rating for QAD (QADA)
“After the close QAD positively preannounced solid FQ4 results that showed revenue upside, strong cloud bookings, and continued improvement in the subscription mix shift. The only blemish would be a slight operating income shortfall, but this is one of those “good problem” scenarios – higher up-front sales commissions on better cloud bookings (where revenues come in ratably) drove the miss. We’d note that with the cutover to ASC 606, where commissions better match revenue recognition, this shouldn’t be an issue going forward.”,” the firm’s analyst commented.
Several other equities research analysts have also recently commented on the company. BidaskClub raised QAD from a hold rating to a buy rating in a report on Wednesday, December 20th. Stifel Nicolaus increased their price target on QAD from $40.00 to $45.00 and gave the company a buy rating in a report on Wednesday, November 22nd. Three analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $44.33.
Several large investors have recently bought and sold shares of the stock. MetLife Investment Advisors LLC acquired a new stake in shares of QAD in the fourth quarter valued at approximately $186,000. Millennium Management LLC increased its holdings in shares of QAD by 2.7% in the fourth quarter. Millennium Management LLC now owns 60,864 shares of the software maker’s stock valued at $2,365,000 after purchasing an additional 1,593 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in QAD by 20.7% during the fourth quarter. Goldman Sachs Group Inc. now owns 10,077 shares of the software maker’s stock worth $391,000 after acquiring an additional 1,729 shares during the last quarter. Stone Ridge Asset Management LLC acquired a new stake in QAD during the fourth quarter worth $632,000. Finally, Deutsche Bank AG increased its stake in QAD by 53.6% during the fourth quarter. Deutsche Bank AG now owns 101,253 shares of the software maker’s stock worth $3,932,000 after acquiring an additional 35,339 shares during the last quarter. 44.47% of the stock is owned by hedge funds and other institutional investors.
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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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