UPDATE: William Blair Downgrades QAD Inc (QADA) to Market Perform

William Blair analyst Bhavan Suri downgraded QAD Inc (NASDAQ: QADA) from Outperform to Market Perform.

The analyst comments "While some investors may believe this undervalues the company, we believe management undertook an extensive review and determined partnering with Thoma Bravo to be the best business fit given its extensive experience in the software industry. In addition, we believe operating as a private company will allow QAD to continue its subscription model transition and accelerate its growth and profitability initiatives. Due to the robustness of the review process, we do not believe any competing bidders will emerge. We are downgrading shares to Market Perform."

For an analyst ratings summary and ratings history on QAD Inc click here. For more ratings news on QAD Inc click here.

Shares of QAD Inc closed at $72.90 yesterday.

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