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Can An Activist Hedge Fund Turn CA Around? (CA)

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By Jon C. Ogg Published
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CA Inc. (NYSE: CA) is winning today but not on news of its own doing.  The often ignored information technology outfit is trading higher on news that hedge fund Taconic Capital Advisors LP has taken a stake of about 5.1% of the outstanding shares of CA.  The fund also has noted that it is in talks with CA management to help boost returns.

With shares at $21.78 after a 4% price gain on Thursday, the 52-week trading range is $18.61 to $25.68 and the consensus price target objective from Thomson Reuters is $24.30.

CA shares have been a bit stuck before today’s news and this stock will have to get above $22 or so and stay there a while before any technicians will start confirming that the long-term downward trend in place for the last year has finally reversed itself.  As far as tech outfits, the 1% dividend yield is not likely to attract many new investors against a $2.4 billion cash balance and a $10.7 billion market cap.

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About the Author Jon C. Ogg →

Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. a673b.bigscoots-temp.com.

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