Trade Report: The CA, Inc. (CA) Rating Increased to Buy at The Zacks Investment Research

The CA, Inc. (CA) Rating Increased to Buy at The Zacks Investment Research

CA, Inc. (NYSE:CA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday. The firm presently has a $35.00 price objective on the stock. Zacks Investment Research’s price objective indicates a potential upside of 10.13% from the company’s previous close.

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.”

A number of other research analysts also recently weighed in on CA. Jefferies Group raised their price target on shares of CA from $36.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, July 28th. Citigroup Inc. raised their price target on shares of CA from $32.00 to $33.00 and gave the company a “neutral” rating in a report on Thursday, July 28th. JPMorgan Chase & Co. restated a “hold” rating and set a $35.00 price target on shares of CA in a report on Thursday, November 17th. Credit Suisse Group AG restated a “hold” rating and set a $34.00 price target on shares of CA in a report on Monday, August 29th. Finally, Hovde Group upgraded shares of CA from a “market perform” rating to an “outperform” rating and raised their price target for the company from $24.75 to $26.00 in a report on Saturday, October 8th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $33.75.

Shares of CA (NYSE:CA) opened at 31.78 on Thursday. The firm has a market cap of $13.28 billion and a price-to-earnings ratio of 16.57. CA has a 52 week low of $25.18 and a 52 week high of $34.99. The stock has a 50 day moving average of $31.76 and a 200-day moving average of $32.79.

CA (NYSE:CA) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1,000 million. The firm’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.56 EPS. Equities research analysts expect that CA will post $2.53 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 6th. Investors of record on Thursday, November 17th will be paid a $0.255 dividend. The ex-dividend date is Tuesday, November 15th. This represents a $1.02 dividend on an annualized basis and a yield of 3.21%.

A number of hedge funds and other institutional investors have recently bought and sold shares of CA. First National Bank of Mount Dora Trust Investment Services purchased a new position in CA during the third quarter worth about $1,463,000. Bank of New York Mellon Corp raised its position in CA by 12.4% in the second quarter. Bank of New York Mellon Corp now owns 25,992,761 shares of the company’s stock worth $853,342,000 after buying an additional 2,866,538 shares during the last quarter. Lee Danner & Bass Inc. purchased a new position in CA during the second quarter worth about $277,000. Oregon Public Employees Retirement Fund raised its position in CA by 0.8% in the second quarter. Oregon Public Employees Retirement Fund now owns 64,654 shares of the company’s stock worth $2,123,000 after buying an additional 497 shares during the last quarter. Finally, Alambic Investment Management L.P. purchased a new position in CA during the second quarter worth about $407,000.

About CA

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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