Zacks Investment Research lowered shares of CA, Inc. (NYSE:CA) from a buy rating to a hold rating in a report published on Wednesday morning.
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 equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. reissued a hold rating and issued a $35.00 price target on shares of CA in a research note on Thursday, November 17th. Jefferies Group reissued a buy rating and issued a $38.00 price target on shares of CA in a research note on Thursday, November 17th. Hovde Group raised shares of CA from a market perform rating to an outperform rating and lifted their target price for the stock from $24.75 to $26.00 in a research note on Saturday, October 8th. Credit Suisse Group AG reaffirmed a hold rating and set a $34.00 target price on shares of CA in a research note on Monday, August 29th. Finally, Citigroup Inc. lifted their target price on shares of CA from $32.00 to $33.00 and gave the stock a neutral rating in a research note on Thursday, July 28th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average price target of $33.75.
CA (NYSE:CA) opened at 31.96 on Wednesday. CA has a 12-month low of $25.18 and a 12-month high of $34.99. The company has a market capitalization of $13.35 billion and a PE ratio of 16.66. The stock has a 50 day moving average of $31.73 and a 200-day moving average of $32.83.
CA (NYSE:CA) last released its quarterly earnings results on Thursday, October 27th. The company reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.05. The company earned $1.02 billion during the quarter, compared to analyst estimates of $1,000 million. During the same period in the prior year, the business posted $0.56 EPS. CA’s revenue was up 1.3% compared to the same quarter last year. Equities analysts expect that CA will post $2.53 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, December 6th. Stockholders of record on Thursday, November 17th will be issued a dividend of $0.255 per share. The ex-dividend date of this dividend is Tuesday, November 15th. This represents a $1.02 annualized dividend and a dividend yield of 3.19%.
Hedge funds and other institutional investors have recently bought and sold shares of the company. DUPONT CAPITAL MANAGEMENT Corp bought a new position in CA during the second quarter valued at approximately $1,251,000. World Asset Management Inc raised 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 in the last quarter. Pinnacle Financial Partners Inc. raised 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 in the last quarter. Lee Danner & Bass Inc. bought a new position in CA during the second quarter valued at approximately $277,000. Finally, TradeLink Capital LLC raised 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 in 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.