Bank of New York Mellon Corp Raises Position in QAD Inc. (QADA)

Bank of New York Mellon Corp boosted its holdings in QAD Inc. (NASDAQ:QADA) by 4.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 86,666 shares of the software maker’s stock after acquiring an additional 3,933 shares during the period. Bank of New York Mellon Corp owned 0.44% of QAD worth $4,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of QADA. Acadian Asset Management LLC grew its stake in QAD by 41.0% in the 3rd quarter. Acadian Asset Management LLC now owns 104,439 shares of the software maker’s stock valued at $5,916,000 after acquiring an additional 30,363 shares during the last quarter. Northern Trust Corp boosted its stake in shares of QAD by 9.4% during the 2nd quarter. Northern Trust Corp now owns 129,398 shares of the software maker’s stock worth $6,489,000 after purchasing an additional 11,092 shares during the last quarter. Prudential Financial Inc. boosted its stake in shares of QAD by 61.9% during the 3rd quarter. Prudential Financial Inc. now owns 26,541 shares of the software maker’s stock worth $1,503,000 after purchasing an additional 10,146 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in shares of QAD during the 3rd quarter worth about $386,000. Finally, Virginia Retirement Systems ET AL acquired a new stake in shares of QAD during the 3rd quarter worth about $329,000. 45.15% of the stock is currently owned by hedge funds and other institutional investors.

Several research firms have issued reports on QADA. Zacks Investment Research cut shares of QAD from a “buy” rating to a “hold” rating in a research note on Wednesday, October 24th. ValuEngine cut shares of QAD from a “strong-buy” rating to a “buy” rating in a research note on Monday, February 4th. BidaskClub raised shares of QAD from a “strong sell” rating to a “sell” rating in a research note on Friday, January 25th. Stifel Nicolaus decreased their price target on shares of QAD from $61.00 to $52.00 and set a “buy” rating on the stock in a research note on Wednesday, November 21st. Finally, B. Riley set a $62.00 price target on shares of QAD and gave the stock a “buy” rating in a research note on Wednesday, November 21st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. QAD presently has a consensus rating of “Buy” and a consensus target price of $53.25.

In other news, President Pamela M. Lopker sold 4,000 shares of the stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $41.12, for a total transaction of $164,480.00. Following the transaction, the president now directly owns 5,012,095 shares in the company, valued at approximately $206,097,346.40. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Pamela M. Lopker sold 1,000 shares of the stock in a transaction dated Wednesday, January 9th. The stock was sold at an average price of $41.00, for a total transaction of $41,000.00. Following the transaction, the president now owns 4,808,095 shares in the company, valued at $197,131,895. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 67,324 shares of company stock worth $2,777,682. Insiders own 43.70% of the company’s stock.

Shares of QADA stock opened at $42.17 on Thursday. The stock has a market cap of $829.25 million, a PE ratio of -89.72 and a beta of 1.24. QAD Inc. has a 1-year low of $38.39 and a 1-year high of $61.80. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.61 and a current ratio of 1.61.

QAD (NASDAQ:QADA) last announced its quarterly earnings data on Tuesday, November 20th. The software maker reported $0.14 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.13 by $0.01. The business had revenue of $79.58 million for the quarter, compared to analyst estimates of $81.12 million. QAD had a net margin of 0.10% and a return on equity of 0.08%. The company’s revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.01) EPS. Analysts forecast that QAD Inc. will post 0.17 earnings per share for the current fiscal year.

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QAD Company Profile

QAD Inc provides enterprise software solutions for manufacturing companies in the automotive, life sciences, consumer products, food and beverage, high technology, and industrial products industries worldwide. The company offers QAD Enterprise Applications, an integrated suite of software applications, which support the core business processes.

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Institutional Ownership by Quarter for QAD (NASDAQ:QADA)

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