Citigroup Inc. Boosts CA Inc. (CA) Price Target to $36.00
CA Inc. (NASDAQ:CA) had its price target raised by equities research analysts at Citigroup Inc. from $34.00 to $36.00 in a report issued on Wednesday. The brokerage presently has a “neutral” rating on the technology company’s stock. Citigroup Inc.’s target price suggests a potential upside of 3.12% from the stock’s current price.
A number of other brokerages have also recently issued reports on CA. Jefferies Group LLC restated a “buy” rating and set a $38.00 target price on shares of CA in a research report on Friday, April 28th. Zacks Investment Research upgraded shares of CA from a “sell” rating to a “hold” rating in a research report on Tuesday, March 28th. Oppenheimer Holdings, Inc. restated a “market perform” rating on shares of CA in a research report on Friday, May 12th. Raymond James Financial, Inc. restated a “market perform” rating on shares of CA in a research report on Thursday, June 22nd. Finally, DA Davidson restated a “neutral” rating and set a $12.00 target price on shares of CA in a research report on Friday, May 19th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the company’s stock. CA has an average rating of “Hold” and a consensus price target of $34.88.
CA (NASDAQ CA) traded down 1.80% on Wednesday, hitting $34.28. 1,878,048 shares of the company traded hands. The stock has a market cap of $14.32 billion, a PE ratio of 18.53 and a beta of 0.92. CA has a 12 month low of $30.01 and a 12 month high of $34.99. The stock’s 50-day moving average is $31.93 and its 200 day moving average is $32.09.
CA (NASDAQ:CA) last announced its quarterly earnings data on Thursday, May 11th. The technology company reported $0.54 EPS for the quarter, beating the Thomson Reuters’ 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 analysts’ expectations of $996.59 million. During the same quarter last year, the business earned $0.60 earnings per share. The business’s revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts expect that CA will post $2.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, June 13th. Stockholders of record on Thursday, May 25th were given a dividend of $0.255 per share. The ex-dividend date was Tuesday, May 23rd. This represents a $1.02 dividend on an annualized basis and a dividend yield of 2.92%. CA’s payout ratio is currently 55.14%.
In related news, insider Ayman Sayed sold 30,194 shares of the company’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $35.62, for a total value of $1,075,510.28. Following the sale, the insider now directly owns 168,455 shares of the company’s stock, valued at $6,000,367.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.90% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its stake in shares of CA by 2,711.1% in the first quarter. BlackRock Inc. now owns 20,716,899 shares of the technology company’s stock worth $657,139,000 after buying an additional 19,979,935 shares during the period. Vanguard Group Inc. raised its position in CA by 27.8% in the first quarter. Vanguard Group Inc. now owns 26,311,643 shares of the technology company’s stock valued at $834,606,000 after buying an additional 5,729,276 shares in the last quarter. Norges Bank purchased a new position in CA during the fourth quarter valued at approximately $105,650,000. Macquarie Group Ltd. raised its position in CA by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 23,245,474 shares of the technology company’s stock valued at $738,510,000 after buying an additional 1,029,064 shares in the last quarter. Finally, FIL Ltd raised its position in CA by 13.1% in the first quarter. FIL Ltd now owns 8,352,008 shares of the technology company’s stock valued at $264,926,000 after buying an additional 964,522 shares in the last quarter. 71.69% of the stock is currently owned by institutional investors.
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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