American Software (NASDAQ:AMSWA) Price Target Cut to $13.00

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American Software (NASDAQ:AMSWA) had its price target cut by B. Riley from $17.50 to $13.00 in a research report report published on Monday, September 17th. They currently have a neutral rating on the software maker’s stock.

A number of other equities analysts have also recently weighed in on the company. BidaskClub raised American Software from a hold rating to a buy rating in a report on Monday, June 18th. Zacks Investment Research cut American Software from a buy rating to a hold rating in a report on Friday, June 29th. Finally, ValuEngine raised American Software from a buy rating to a strong-buy rating in a report on Friday, July 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and one has given a buy rating to the stock. American Software currently has a consensus rating of Hold and a consensus target price of $15.00.

AMSWA traded down $0.13 during trading on Monday, reaching $11.40. 290,342 shares of the stock were exchanged, compared to its average volume of 97,492. The company has a market cap of $374.88 million, a price-to-earnings ratio of 31.67 and a beta of 0.77. American Software has a 1 year low of $11.11 and a 1 year high of $18.94.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Monday, November 19th will be paid a $0.11 dividend. The ex-dividend date of this dividend is Friday, November 16th. This represents a $0.44 annualized dividend and a yield of 3.86%. American Software’s payout ratio is currently 122.22%.

In related news, Director J Michael Edenfield sold 13,700 shares of the company’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $13.70, for a total value of $187,690.00. Following the completion of the transaction, the director now directly owns 25,124 shares in the company, valued at $344,198.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 11.24% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. New York State Common Retirement Fund boosted its position in shares of American Software by 0.8% in the first quarter. New York State Common Retirement Fund now owns 506,231 shares of the software maker’s stock worth $6,581,000 after buying an additional 4,216 shares during the period. Russell Investments Group Ltd. boosted its position in shares of American Software by 126.5% in the first quarter. Russell Investments Group Ltd. now owns 9,390 shares of the software maker’s stock worth $122,000 after buying an additional 5,244 shares during the period. Northern Trust Corp boosted its position in shares of American Software by 1.5% in the first quarter. Northern Trust Corp now owns 365,905 shares of the software maker’s stock worth $4,757,000 after buying an additional 5,265 shares during the period. California Public Employees Retirement System boosted its position in shares of American Software by 8.1% in the first quarter. California Public Employees Retirement System now owns 79,876 shares of the software maker’s stock worth $1,038,000 after buying an additional 5,976 shares during the period. Finally, Schwab Charles Investment Management Inc. boosted its position in shares of American Software by 13.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 61,761 shares of the software maker’s stock worth $900,000 after buying an additional 7,300 shares during the period. Institutional investors own 75.19% of the company’s stock.

About American Software

American Software, Inc develops, markets, and supports a portfolio of software and services worldwide. It operates in three segments: Supply Chain Management (SCM), Information Technology (IT) Consulting, and Other. The SCM segment provides supply chain management and retail planning solutions, including sales and operations planning, demand and inventory optimization, manufacturing planning and scheduling, supply optimization, retail allocation and merchandise planning, and transportation optimization solutions to streamline and optimize the forecasting, inventory, production scheduling, production, supply, allocation, distribution, and management of products between trading partners.

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