Granite Investment Partners LLC trimmed its position in shares of QAD Inc. (NASDAQ:QADA) by 34.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 67,332 shares of the software maker’s stock after selling 35,127 shares during the quarter. Granite Investment Partners LLC owned approximately 0.35% of QAD worth $2,313,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently modified their holdings of QADA. Rhumbline Advisers grew its holdings in QAD by 0.8% in the 2nd quarter. Rhumbline Advisers now owns 10,799 shares of the software maker’s stock valued at $346,000 after buying an additional 90 shares in the last quarter. Cornerstone Capital Management Holdings LLC. raised its holdings in QAD by 0.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 12,566 shares of the software maker’s stock worth $402,000 after purchasing an additional 100 shares during the last quarter. American International Group Inc. grew its position in shares of QAD by 7.0% in the first quarter. American International Group Inc. now owns 5,794 shares of the software maker’s stock valued at $161,000 after purchasing an additional 378 shares during the period. Bank of America Corp DE lifted its stake in shares of QAD by 0.7% during the first quarter. Bank of America Corp DE now owns 62,560 shares of the software maker’s stock worth $1,742,000 after purchasing an additional 450 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of QAD by 10.9% in the second quarter. The Manufacturers Life Insurance Company now owns 7,979 shares of the software maker’s stock worth $256,000 after acquiring an additional 786 shares in the last quarter. Hedge funds and other institutional investors own 44.10% of the company’s stock.

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Shares of QAD Inc. (NASDAQ:QADA) traded up $1.75 during midday trading on Wednesday, reaching $39.95. 56,700 shares of the company’s stock traded hands, compared to its average volume of 37,016. The company has a quick ratio of 1.59, a current ratio of 1.59 and a debt-to-equity ratio of 0.12. QAD Inc. has a 1 year low of $25.49 and a 1 year high of $40.00.

QAD (NASDAQ:QADA) last announced its quarterly earnings results on Tuesday, November 21st. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. QAD had a negative net margin of 5.98% and a negative return on equity of 0.47%. The firm had revenue of $76.93 million during the quarter, compared to analysts’ expectations of $73.99 million. During the same period in the prior year, the company posted $0.07 EPS. The company’s revenue was up 10.6% on a year-over-year basis. research analysts expect that QAD Inc. will post -0.18 earnings per share for the current year.

QADA has been the subject of a number of research analyst reports. Zacks Investment Research downgraded QAD from a “buy” rating to a “hold” rating in a research report on Saturday, October 21st. Stifel Nicolaus increased their target price on shares of QAD from $33.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 20th. Canaccord Genuity raised their price target on QAD from $35.00 to $36.00 and gave the company a “buy” rating in a research report on Monday, August 28th. Finally, BidaskClub upgraded shares of QAD from a “sell” rating to a “hold” rating in a research note on Tuesday, August 8th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $40.75.

QAD 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.

Institutional Ownership by Quarter for QAD (NASDAQ:QADA)

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