Zacks Investment Research upgraded shares of CA (NASDAQ:CA) from a hold rating to a buy rating in a research note released on Friday morning. Zacks Investment Research currently has $40.00 price objective on the technology company’s stock.

According to Zacks, “CA reported better-than-expected third-quarter fiscal 2018 results. The company's upbeat earnings guidance for fiscal 2018 makes us optimistic about its growth prospect. We are positive about CA’s acquisition strategy, which has enhanced its IT management, software and services portfolio. Moreover, we believe that the diversity of its products and the increased efficiency offered by them will attract customers across sectors, lending stability to its business model. Additionally, CA’s “go to market” sales strategy integrates the commercial functions of sales, marketing, brand management, pricing and consumer insight, which helps it in lowering costs, thereby improving the bottom line. Nonetheless, intensifying competition from peers, an uncertain economic environment and currency headwinds are other concerns. Notably, the stock has underperformed the industry in the last one year.”

Other analysts have also issued research reports about the stock. BidaskClub upgraded shares of CA from a sell rating to a hold rating in a research report on Friday, January 26th. Barclays decreased their price target on shares of CA from $36.00 to $34.00 and set an equal weight rating on the stock in a research note on Thursday, October 26th. Oppenheimer reissued a hold rating on shares of CA in a research note on Wednesday. Jefferies Group reissued a buy rating and issued a $41.00 price target on shares of CA in a research note on Wednesday. Finally, Credit Suisse Group raised their price target on shares of CA from $34.00 to $36.00 and gave the stock a neutral rating in a research note on Wednesday. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $34.27.

CA (CA) traded down $0.41 during midday trading on Friday, hitting $34.97. 3,032,250 shares of the company’s stock were exchanged, compared to its average volume of 2,120,000. The stock has a market capitalization of $14,470.00, a PE ratio of 34.62, a P/E/G ratio of 4.44 and a beta of 0.70. CA has a fifty-two week low of $30.45 and a fifty-two week high of $36.56. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 0.44.

CA (NASDAQ:CA) last posted its quarterly earnings results on Tuesday, January 30th. The technology company reported $0.75 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.55 by $0.20. The business had revenue of $1.09 billion during the quarter, compared to analysts’ expectations of $1.07 billion. CA had a net margin of 10.23% and a return on equity of 16.52%. The business’s quarterly revenue was up 8.5% on a year-over-year basis. During the same quarter last year, the company posted $0.63 earnings per share. sell-side analysts forecast that CA will post 2.39 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Fort Pitt Capital Group LLC grew its holdings in shares of CA by 0.8% in the fourth quarter. Fort Pitt Capital Group LLC now owns 1,044,734 shares of the technology company’s stock valued at $34,769,000 after purchasing an additional 8,285 shares in the last quarter. Public Employees Retirement Association of Colorado grew its holdings in shares of CA by 3.6% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 57,393 shares of the technology company’s stock valued at $1,910,000 after purchasing an additional 2,008 shares in the last quarter. SeaCrest Wealth Management LLC acquired a new position in shares of CA in the fourth quarter valued at approximately $248,000. Aperio Group LLC grew its holdings in shares of CA by 1.0% in the fourth quarter. Aperio Group LLC now owns 329,055 shares of the technology company’s stock valued at $10,951,000 after purchasing an additional 3,282 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in shares of CA by 10.6% in the fourth quarter. Victory Capital Management Inc. now owns 204,047 shares of the technology company’s stock valued at $6,791,000 after purchasing an additional 19,545 shares in the last quarter. Institutional investors and hedge funds own 68.75% of the company’s stock.

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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.

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