Zacks Investment Research Downgrades Asure Software (ASUR) to Hold

Asure Software (NASDAQ:ASUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Monday, January 8th.

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. “

ASUR has been the topic of several other reports. Craig Hallum began coverage on shares of Asure Software in a research report on Monday, December 4th. They issued a “buy” rating on the stock. Northland Securities set a $19.00 price target on shares of Asure Software and gave the company a “buy” rating in a report on Wednesday, January 3rd. Dougherty & Co restated a “buy” rating on shares of Asure Software in a report on Monday, November 20th. Canaccord Genuity restated a “buy” rating and issued a $20.00 price target on shares of Asure Software in a report on Tuesday, January 2nd. Finally, Cowen raised their price target on shares of Asure Software from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, December 19th. One research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Asure Software presently has an average rating of “Buy” and a consensus price target of $17.63.

Asure Software (ASUR) traded down $0.05 on Monday, hitting $14.82. 141,636 shares of the company traded hands, compared to its average volume of 133,046. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.39 and a quick ratio of 1.37. Asure Software has a twelve month low of $9.47 and a twelve month high of $17.27. The firm has a market capitalization of $184.08, a PE ratio of -38.00, a PEG ratio of 0.75 and a beta of 1.21.

Asure Software (NASDAQ:ASUR) last released its earnings results on Monday, November 13th. The technology company reported $0.14 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.14. Asure Software had a negative net margin of 8.28% and a positive return on equity of 6.96%. research analysts expect that Asure Software will post 0.47 earnings per share for the current year.

Institutional investors and hedge funds have recently bought and sold shares of the company. AWM Investment Company Inc. purchased a new stake in shares of Asure Software during the second quarter valued at approximately $2,595,000. Prudential PLC purchased a new stake in shares of Asure Software during the second quarter valued at approximately $3,287,000. Russell Investments Group Ltd. raised its stake in shares of Asure Software by 2.8% during the third quarter. Russell Investments Group Ltd. now owns 479,629 shares of the technology company’s stock valued at $5,956,000 after purchasing an additional 13,279 shares during the period. Alyeska Investment Group L.P. raised its stake in shares of Asure Software by 548.1% during the third quarter. Alyeska Investment Group L.P. now owns 450,000 shares of the technology company’s stock valued at $5,589,000 after purchasing an additional 380,570 shares during the period. Finally, Vanguard Group Inc. raised its stake in shares of Asure Software by 24.0% during the second quarter. Vanguard Group Inc. now owns 322,333 shares of the technology company’s stock valued at $4,710,000 after purchasing an additional 62,418 shares during the period. Institutional investors own 46.61% of the company’s stock.

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Asure Software Company Profile

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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