CA Inc. (CA) Downgraded by Zacks Investment Research
CA Inc. (NASDAQ:CA) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and 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 research analysts have also issued reports on CA. DA Davidson lowered shares of CA from a “buy” rating to a “neutral” rating in a research note on Monday, April 10th. Piper Jaffray Companies increased their price target on shares of CA from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, April 17th. Jefferies Group LLC reiterated a “buy” rating and issued a $38.00 price target on shares of CA in a research note on Friday, April 28th. FIG Partners upgraded shares of CA to an “outperform” rating and increased their price target for the stock from $40.00 to $42.25 in a research note on Wednesday, May 3rd. Finally, 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 research note on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $35.10.
Shares of CA (NASDAQ CA) traded up 0.06% on Monday, hitting $34.50. 660,639 shares of the stock were exchanged. The company has a 50-day moving average price of $32.41 and a 200 day moving average price of $32.25. CA has a 12 month low of $30.01 and a 12 month high of $36.54. The company has a market cap of $14.41 billion, a PE ratio of 18.65 and a beta of 0.87.
CA (NASDAQ:CA) last issued its quarterly earnings results on Thursday, May 11th. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.49 by $0.05. The company had revenue of $1.01 billion during 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 quarterly revenue was up .3% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. Equities analysts forecast that CA will post $2.38 EPS for the current fiscal year.
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In other news, insider Ayman Sayed sold 30,194 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 168,455 shares of the company’s stock, valued at approximately $6,000,367.10. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.90% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in 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 last quarter. Vanguard Group Inc. boosted its stake in CA by 27.8% in the first quarter. Vanguard Group Inc. now owns 26,311,643 shares of the technology company’s stock worth $834,606,000 after buying an additional 5,729,276 shares during the last quarter. Macquarie Group Ltd. boosted its stake in CA by 4.6% in the fourth quarter. Macquarie Group Ltd. now owns 23,245,474 shares of the technology company’s stock worth $738,510,000 after buying an additional 1,029,064 shares during the last quarter. FIL Ltd boosted its stake in CA by 13.1% in the first quarter. FIL Ltd now owns 8,352,008 shares of the technology company’s stock worth $264,926,000 after buying an additional 964,522 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in CA by 22.6% in the first quarter. First Trust Advisors LP now owns 3,837,809 shares of the technology company’s stock worth $121,735,000 after buying an additional 706,514 shares during the last quarter. 70.62% of the stock is currently owned by institutional investors.
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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