Stifel Nicolaus updates on QSFT
Quest Software, Inc. (Public, NASDAQ:QSFT). Last Market Price: 22.68, Change: +0.53, % Change: (2.39%). Shares trade in the range of 21.90 – 22.68 dollars. It has a market capitalization of 2.11B dollars and has 93.15M outstanding shares. The company has a beta of 0.76, indicating, the stock to be less volatile than the market. As per the most recent quarterly report, the net income per share (EPS) is 0.92; P/E of 24.57. It operates in Technology sector and belongs to Software and Programming industry. The company has a 52 week high of $ 28.47 and a 52 week low of $ 15.96. Average volumes of shares traded daily are 1.03M. Volume traded in the last session was at 409,341.00.
- Stifel Nicolaus notes, QSFT reported 1Q11 rev of $188.2 mln compared to its forecast for $201.8 mln and consensus at $197.9 mln.
- License rev was $66.7 mln compared to its forecast for $78.4 mln.
The license revenue miss was a combination of a worse than expected conversion rate for deals and a slower pipeline build following 4Q, especially in North America. 1Q11 adjusted EPS was $0.20 compared to our forecast for $0.29 and consensus at $0.29. Mgmt maintained guidance for 2011 rev growth of 16% and full year operating margin of 21%. It notes that guidance implies significantly higher sequential rev growth for the remainder of the yr than QSFT has previously delivered. Firm is revising its 2Q11 rev est to $205 mln from $211 mln and are revising its license rev est to $80.1mn from $84.7 mln. Tgt to $27 from $30.
Estimate for sales for the quarter ending June 11 show a mean of 206.08 million dollars, an estimate high of 212.16 million dollars and an estimate low of 198.7 million dollars. A year ago the figures stood at 178.14 million dollars. Estimate for EPS for the quarter ending June 11 show a mean of 0.28 dollars, an estimate high of 0.34 dollars and an estimate low of 0.23 dollars. A year ago, for the same period, the figures stood at 0.32 dollars.
Consensus Recommendation is a Hold.
Senior management consists of Vincent C. Smith, aged 47, as Executive Chairman of the Board, Douglas F. Garn, aged 52, as President, Chief Executive Officer, Director and Scott J. Davidson, aged 45, as Chief Financial Officer, Senior Vice President.
Sales for Quarter Ending Mar 11 was estimated at 197.92 million dollars, however the actual sales figure stood at 188.16 million dollars, 9.76 million dollars lesser than estimates.
For Q1 (Mar ’11), it had a Net profit margin of 1.93%, an operating margin of 2.85%. Other Key stats and ratios include Return on average assets of 0.90%, Return on average equity of 1.45%. The total employee strength is of 3,460.
