Zacks Investment Research upgraded shares of CA, Inc. (NYSE:CA) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $35.00 price objective on the stock.
According to Zacks, “CA is a leading information technology (IT) management software company founded in 1974 and headquartered in Islandia, NY. CA’s strategy of expanding the cloud business through acquisitions is impressive. The wide range of products should attract customers across sectors, lending stability to the business model. On the cost front, CA’s “go to market” sales strategy integrates the commercial functions of sales, marketing, brand management, pricing and consumer insight, which helps it lower costs and boost its bottom line. A modest cash position and regular share repurchase are also encouraging. However, intensifying competition, an uncertain economic environment, currency headwinds and the weak IT spending forecast by Gartner are concerns.”
Several other analysts have also issued reports on CA. JPMorgan Chase & Co. reiterated a hold rating and set a $35.00 price objective on shares of CA in a report on Thursday, November 17th. Hovde Group upgraded CA from a market perform rating to an outperform rating and increased their price objective for the stock from $24.75 to $26.00 in a report on Saturday, October 8th. Credit Suisse Group AG reiterated a hold rating and set a $34.00 price objective on shares of CA in a report on Monday, August 29th. Jefferies Group increased their price objective on CA from $36.00 to $38.00 and gave the stock a buy rating in a report on Thursday, July 28th. Finally, Citigroup Inc. increased their price objective on CA from $32.00 to $33.00 and gave the stock a neutral rating in a report on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $33.75.
CA (NYSE:CA) opened at 31.96 on Thursday. CA has a 1-year low of $25.18 and a 1-year high of $34.99. The firm has a market cap of $13.35 billion and a PE ratio of 16.66. The company has a 50 day moving average price of $31.73 and a 200 day moving average price of $32.83.
CA (NYSE:CA) last released its earnings results on Thursday, October 27th. The company reported $0.67 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.05. The business earned $1.02 billion during the quarter, compared to analysts’ expectations of $1,000 million. CA’s revenue for the quarter was up 1.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.56 EPS. On average, equities research analysts forecast that CA will post $2.53 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Thursday, November 17th will be given a dividend of $0.255 per share. This represents a $1.02 annualized dividend and a yield of 3.19%. The ex-dividend date of this dividend is Tuesday, November 15th.
A number of institutional investors have recently bought and sold shares of the company. DUPONT CAPITAL MANAGEMENT Corp acquired a new position in CA during the second quarter valued at approximately $1,251,000. World Asset Management Inc increased its position in CA by 0.6% in the second quarter. World Asset Management Inc now owns 30,367 shares of the company’s stock valued at $997,000 after buying an additional 195 shares during the last quarter. Pinnacle Financial Partners Inc. increased its position in CA by 10.1% in the second quarter. Pinnacle Financial Partners Inc. now owns 16,199 shares of the company’s stock valued at $551,000 after buying an additional 1,489 shares during the last quarter. Lee Danner & Bass Inc. acquired a new position in CA during the second quarter valued at approximately $277,000. Finally, TradeLink Capital LLC increased its position in CA by 1.7% in the second quarter. TradeLink Capital LLC now owns 10,434 shares of the company’s stock valued at $343,000 after buying an additional 175 shares during the last quarter.
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.