Asure Software (ASUR) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Asure Software (NASDAQ:ASUR) from a buy rating to a hold rating in a report released on Thursday morning.

According to Zacks, “Asure Software Inc., formerly Forgent Networks, Inc., is a provider of Web-based workforce management solutions. It offers Web-based workforce management solutions that enable organizations to manage their office environment, as well as their human resource and payroll processes. The Company offers its workforce management solutions under two product lines: NetSimplicity and iEmployee. Asure’s suite includes products to optimize workforce time and attendance tracking, benefits enrollment and tracking, pay stubs and W2 documentation, expense management, meeting and event management, and asset tracking. The company delivers easy-to-use, easy-to-deploy software products that serve small and medium-sized organizations and divisions of Fortune and Global 1000 enterprises. It focuses on developing products that deliver enterprise-class productivity enhancements at an affordable price such that any size organization can enjoy the benefits of its solutions. “

A number of other research firms also recently weighed in on ASUR. Canaccord Genuity restated a buy rating and set a $18.00 target price on shares of Asure Software in a research report on Tuesday, October 17th. Cowen boosted their target price on Asure Software from $17.00 to $20.00 and gave the stock an outperform rating in a research report on Tuesday, December 19th. Northland Securities restated a buy rating and set a $18.00 target price on shares of Asure Software in a research report on Thursday, September 21st. Dougherty & Co restated a buy rating and set a $18.00 target price (up previously from $17.00) on shares of Asure Software in a research report on Wednesday, January 3rd. Finally, Craig Hallum started coverage on Asure Software in a research report on Monday, December 4th. They set a buy rating for the company. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock presently has a consensus rating of Buy and an average price target of $17.63.

Shares of Asure Software (ASUR) traded up $0.67 on Thursday, reaching $15.73. The company’s stock had a trading volume of 293,800 shares, compared to its average volume of 135,915. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04. Asure Software has a 52-week low of $9.47 and a 52-week high of $17.27. The company has a market cap of $195.39, a P/E ratio of -40.33, a price-to-earnings-growth ratio of 0.80 and a beta of 1.21.

Asure Software (NASDAQ:ASUR) last issued its quarterly earnings data on Monday, November 13th. The technology company reported $0.14 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. The firm had revenue of $15.53 million during the quarter, compared to the consensus estimate of $15.24 million. Asure Software had a positive return on equity of 6.96% and a negative net margin of 8.28%. sell-side analysts forecast that Asure Software will post 0.47 EPS for the current fiscal year.

Several institutional investors have recently made changes to their positions in ASUR. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Asure Software during the third quarter worth $135,000. Northern Trust Corp grew its stake in shares of Asure Software by 37.8% during the second quarter. Northern Trust Corp now owns 24,419 shares of the technology company’s stock worth $357,000 after purchasing an additional 6,692 shares during the period. Monarch Partners Asset Management LLC grew its stake in shares of Asure Software by 161.7% during the third quarter. Monarch Partners Asset Management LLC now owns 43,490 shares of the technology company’s stock worth $540,000 after purchasing an additional 26,870 shares during the period. Navellier & Associates Inc grew its stake in shares of Asure Software by 13.1% during the second quarter. Navellier & Associates Inc now owns 49,953 shares of the technology company’s stock worth $730,000 after purchasing an additional 5,775 shares during the period. Finally, Wells Fargo & Company MN grew its stake in shares of Asure Software by 12.6% during the second quarter. Wells Fargo & Company MN now owns 57,470 shares of the technology company’s stock worth $840,000 after purchasing an additional 6,435 shares during the period. 47.27% of the stock is owned by institutional investors and hedge funds.

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About Asure Software

Asure Software, Inc is a global provider of cloud-based software-as-a-service (SaaS) solutions that help companies to bring people, time, space and assets together. The Company serves approximately 6,000 clients in over 80 countries. The Company offers a range of solutions to help its clients optimize and manage mobile workforces and global workspaces.

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