Wedge Capital Management L L P NC decreased its position in QAD Inc. (NASDAQ:QADA) by 40.3% in the third quarter, HoldingsChannel reports. The institutional investor owned 14,564 shares of the software maker’s stock after selling 9,836 shares during the period. Wedge Capital Management L L P NC’s holdings in QAD were worth $825,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in QADA. BlackRock Inc. grew its holdings in QAD by 1.0% during the first quarter. BlackRock Inc. now owns 647,245 shares of the software maker’s stock valued at $26,958,000 after purchasing an additional 6,138 shares during the period. Bank of New York Mellon Corp grew its holdings in QAD by 4.6% during the second quarter. Bank of New York Mellon Corp now owns 82,733 shares of the software maker’s stock valued at $4,149,000 after purchasing an additional 3,606 shares during the period. Northern Trust Corp grew its holdings in QAD by 9.4% during the second quarter. Northern Trust Corp now owns 129,398 shares of the software maker’s stock valued at $6,489,000 after purchasing an additional 11,092 shares during the period. Finally, Acadian Asset Management LLC grew its holdings in QAD by 41.0% during the third quarter. Acadian Asset Management LLC now owns 104,439 shares of the software maker’s stock valued at $5,916,000 after purchasing an additional 30,363 shares during the period. 45.06% of the stock is owned by institutional investors.
QAD stock opened at $42.90 on Friday. QAD Inc. has a one year low of $34.90 and a one year high of $61.80. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.11.
A number of research firms have recently commented on QADA. Zacks Investment Research lowered QAD from a “buy” rating to a “hold” rating in a report on Wednesday, October 24th. BidaskClub lowered QAD from a “sell” rating to a “strong sell” rating in a report on Thursday, October 11th. Stifel Nicolaus raised their price target on QAD from $53.00 to $61.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Finally, B. Riley began coverage on QAD in a report on Wednesday, July 25th. They issued a “buy” rating and a $71.00 price target for the company. One research analyst has rated the stock with a sell rating, one has issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. QAD presently has a consensus rating of “Buy” and a consensus price target of $60.67.
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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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