| Over a month ago | ||||
QAD announced it entered… QAD announced it entered into a definitive agreement to acquire Allocation Network GmbH, a best-in-class solution provider for strategic sourcing and supplier management, based in Munich, Germany. The acquisition, which is expected to close by the end of 2020, will not have an immediate, material impact on QAD's financial results. The acquisition is in line with QAD's strategy of acquiring quality products with limited market reach and leveraging QAD's global footprint. The acquisition will support QAD's cloud growth within its existing customer base and strengthen its overall product offering. QAD will fully incorporate Allocation Network's sourcing, supplier management and procurement systems into its Integrated Supplier Management portfolio to allow customers to eliminate off-contract buying, increase purchasing power and boost cost savings. In today's world, where agility and flexibility in the supply chain are increasingly critical, this powerful combination will greatly enhance the agility and innovation companies are seeking to dynamically manage their supplier communities while delivering operational and financial efficiencies more quickly. Allocation Network will operate as a division of QAD. | ||||
| Over a quarter ago | ||||
QAD Inc. (QADA) announced… QAD Inc. (QADA) announced it has signed a system integrator agreement with Infosys (INFY). Infosys will provide functional consulting and implementation for QAD customers globally. | ||||
B. Riley FBR analyst Zach… B. Riley FBR analyst Zach Cummins raised the firm's price target on Qad Inc. to $49 from $43.50 and keeps a Buy rating on the shares ahead of the company's Q1 results on May 27. While COVID-19 has elevated uncertainty in the near term, Qad continues to make progress with its cloud transition, with recurring revenue expected to account for more than 75% of revenue in Q1, Cummins tells investors in a research note. The analyst adds that while the pandemic will likely delay implementation projects and limit opportunities with new customers in the near term, disruption to on-premise enterprise resource planning infrastructures could accelerate the adoption of cloud solutions over the medium and longer term. | ||||
Conference call with… Conference call with managenent will be held oh April 24 hosted by SIdoti. | ||||
Conference call with… Conference call with managenent will be held oh April 24 hosted by SIdoti. | ||||
Qad Inc. CFO Daniel… Qad Inc. CFO Daniel Lender disclosed in a filing that he had sold 7,641 shares of company stock at an average price of $41.27 per share between April 14 and April 15. The total transaction value of the sale was $315,348. | |
The company states:… The company states: "Given the current uncertainty related to COVID-19 and its economic and social implications, we are not providing full year guidance at this time. For our quarterly guidance, given the travel and other restrictions currently in place in most countries, our professional services and license revenues could vary significantly. As a result, we are not providing our normal guidance and will only provide guidance for our recurring revenue, which consists of subscription revenue and maintenance revenue. We estimate Q1 recurring revenue will account for over 75% of our total revenues." | |
Reports Q4 subscription… Reports Q4 subscription gross margin of 67% vs. 63%. | |
Reports Q4 revenue… Reports Q4 revenue $78.6M, consensus $78.74M. "We finished the year with strong cloud bookings performance, driving recurring revenue to 73 percent of our total business, and further strengthening the company's competitive position and stability," said Anton Chilton, QAD's CEO. "Notwithstanding the current external environment, we believe QAD remains well positioned to achieve our long-term strategic goals. In these disruptive times our customers can be assured that our resilient cloud and support operations help provide them with business continuity and risk mitigation." |