Healthcare of Ontario Pension Plan Trust Fund cut its holdings in QAD Inc. (NASDAQ:QADA) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,000 shares of the software maker’s stock after selling 5,500 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in QAD were worth $1,453,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the company. Marshall Wace North America L.P. acquired a new position in shares of QAD during the 1st quarter worth approximately $41,000. JPMorgan Chase & Co. grew its holdings in QAD by 10.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,309 shares of the software maker’s stock valued at $181,000 after buying an additional 421 shares during the last quarter. Arizona State Retirement System purchased a new position in QAD during the fourth quarter worth $220,000. State Board of Administration of Florida Retirement System acquired a new position in shares of QAD in the fourth quarter worth $241,000. Finally, Morgan Stanley lifted its position in shares of QAD by 5.3% in the third quarter. Morgan Stanley now owns 7,642 shares of the software maker’s stock valued at $323,000 after acquiring an additional 385 shares in the last quarter. Institutional investors and hedge funds own 47.03% of the company’s stock.
NASDAQ QADA opened at $76.16 on Tuesday. The business’s 50-day moving average price is $68.49 and its 200 day moving average price is $59.36. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.10. QAD Inc. has a twelve month low of $37.02 and a twelve month high of $78.69. The company has a market capitalization of $1.58 billion, a PE ratio of 476.03 and a beta of 1.32.
A number of research firms have issued reports on QADA. Zacks Investment Research upgraded shares of QAD from a “sell” rating to a “hold” rating in a report on Thursday, February 18th. Sidoti lowered shares of QAD from a “buy” rating to a “neutral” rating and set a $77.00 price objective for the company. in a research report on Thursday, April 8th. Finally, TheStreet upgraded shares of QAD from a “c+” rating to a “b” rating in a research report on Monday, April 5th. Two analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $56.50.
QAD Inc provides cloud-based enterprise software solutions in North America, Europe, the Middle East, Africa, the Asia Pacific, and Latin America. It offers various software solutions, such as customer and service management solutions for manufacturers to acquire new customers; manufacturing solutions, which supports manufacturing business processes; enterprise asset management to manage, maintain, and install capital equipment; supply chain execution solutions that provides tools to support inventory and warehouse management; and financials solutions to manage and control finance and accounting processes.
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