Pettyjohn Wood & White Has Cut International Business Machs (IBM) Stake by $545,200 as Stock Value Declined; As Qad (QADA) Share Price Rose, Granite Investment Partners Trimmed Its Position by $1.19 Million

February 15, 2018 - By Henry Gaston

Pettyjohn Wood & White Inc decreased its stake in International Business Machs (IBM) by 17.13% based on its latest 2017Q3 regulatory filing with the SEC. Pettyjohn Wood & White Inc sold 3,760 shares as the company’s stock declined 15.88% while stock markets rallied. The institutional investor held 18,194 shares of the computer manufacturing company at the end of 2017Q3, valued at $2.64M, down from 21,954 at the end of the previous reported quarter. Pettyjohn Wood & White Inc who had been investing in International Business Machs for a number of months, seems to be less bullish one the $143.28B market cap company. The stock increased 2.66% or $4.01 during the last trading session, reaching $154.76. About 5.48M shares traded. International Business Machines Corporation (NYSE:IBM) has risen 4.86% since February 15, 2017 and is uptrending. It has underperformed by 11.84% the S&P500.

Granite Investment Partners Llc decreased its stake in Qad Inc (QADA) by 34.28% based on its latest 2017Q3 regulatory filing with the SEC. Granite Investment Partners Llc sold 35,127 shares as the company’s stock rose 2.91% with the market. The institutional investor held 67,332 shares of the prepackaged software company at the end of 2017Q3, valued at $2.31M, down from 102,459 at the end of the previous reported quarter. Granite Investment Partners Llc who had been investing in Qad Inc for a number of months, seems to be less bullish one the $806.57M market cap company. The stock increased 2.75% or $1.15 during the last trading session, reaching $42.9. About 43,967 shares traded or 1.47% up from the average. QAD Inc. (NASDAQ:QADA) has risen 57.33% since February 15, 2017 and is uptrending. It has outperformed by 40.63% the S&P500.

Pettyjohn Wood & White Inc, which manages about $364.69 million and $269.66 million US Long portfolio, upped its stake in Home Depot Inc (NYSE:HD) by 3,159 shares to 28,622 shares, valued at $4.68 million in 2017Q3, according to the filing.

Since January 31, 2018, it had 1 insider buy, and 0 sales for $99,659 activity.

Investors sentiment increased to 0.74 in Q3 2017. Its up 0.02, from 0.72 in 2017Q2. It increased, as 70 investors sold IBM shares while 676 reduced holdings. 100 funds opened positions while 451 raised stakes. 519.10 million shares or 2.22% less from 530.91 million shares in 2017Q2 were reported. Dimensional Fund Advsr Lp invested in 0.16% or 2.53M shares. Gp reported 1.64% stake. Pineno Levin Ford Asset holds 1.88% or 28,189 shares. Montag A Assoc Inc has 0.65% invested in International Business Machines Corporation (NYSE:IBM). Beese Fulmer Incorporated holds 0.82% of its portfolio in International Business Machines Corporation (NYSE:IBM) for 24,765 shares. Cape Cod Five Cents Commercial Bank owns 20,374 shares or 0.46% of their US portfolio. Somerset Trust holds 0.53% of its portfolio in International Business Machines Corporation (NYSE:IBM) for 6,955 shares. Accredited Invsts Incorporated accumulated 11,559 shares. Rothschild Invest Il accumulated 23,305 shares. Founders Fincl Secs Lc invested in 6,471 shares or 0.33% of the stock. Vista Capital has 1,638 shares for 0.06% of their portfolio. Ferguson Wellman Cap Mgmt invested in 0.18% or 33,702 shares. Summit Asset Ltd Liability Corporation accumulated 7,594 shares. Nationwide Fund Advisors holds 313,963 shares or 0.18% of its portfolio. Sei Investments accumulated 127,097 shares.

Among 33 analysts covering International Business Machines (NYSE:IBM), 13 have Buy rating, 4 Sell and 16 Hold. Therefore 39% are positive. International Business Machines had 123 analyst reports since July 21, 2015 according to SRatingsIntel. Argus Research maintained the shares of IBM in report on Wednesday, March 22 with “Buy” rating. The firm earned “Buy” rating on Wednesday, July 19 by Bank of America. Goldman Sachs maintained it with “Neutral” rating and $150 target in Tuesday, April 19 report. The rating was maintained by Deutsche Bank with “Hold” on Tuesday, July 19. The stock has “Sell” rating by Berenberg on Tuesday, April 4. On Wednesday, October 18 the stock rating was maintained by UBS with “Neutral”. The stock has “Market Perform” rating by Bernstein on Wednesday, April 12. The rating was maintained by Citigroup on Tuesday, July 19 with “Neutral”. Morgan Stanley maintained it with “Overweight” rating and $179 target in Tuesday, October 18 report. JP Morgan maintained the shares of IBM in report on Tuesday, April 19 with “Neutral” rating.

Analysts await QAD Inc. (NASDAQ:QADA) to report earnings on March, 8. They expect $-0.01 EPS, down 116.67% or $0.07 from last year’s $0.06 per share. After $-0.01 actual EPS reported by QAD Inc. for the previous quarter, Wall Street now forecasts 0.00% EPS growth.

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