Asure Software Inc (NASDAQ:ASUR) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a report released on Tuesday, October 17th.
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. “
Several other research firms have also commented on ASUR. Northland Securities set a $18.00 price target on Asure Software and gave the stock a “buy” rating in a report on Tuesday, August 15th. Canaccord Genuity restated a “buy” rating and issued a $18.00 price objective on shares of Asure Software in a report on Monday, August 14th. Scotiabank lowered shares of Asure Software from an “outperform” rating to a “sector perform” rating in a report on Thursday, September 7th. Finally, Cowen and Company initiated coverage on shares of Asure Software in a report on Wednesday, September 6th. They issued an “outperform” rating and a $16.00 price objective on the stock. Two investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Asure Software currently has an average rating of “Buy” and an average target price of $16.57.
Asure Software (NASDAQ ASUR) traded down $0.58 during mid-day trading on Tuesday, hitting $10.92. 400,929 shares of the company’s stock traded hands, compared to its average volume of 159,292. Asure Software has a 1-year low of $6.36 and a 1-year high of $17.27. The company has a current ratio of 1.40, a quick ratio of 1.39 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $142.84, a price-to-earnings ratio of 52.27, a price-to-earnings-growth ratio of 0.97 and a beta of 1.10.
Asure Software (NASDAQ:ASUR) last posted its quarterly earnings results on Monday, August 14th. The technology company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.06). Asure Software had a positive return on equity of 6.93% and a negative net margin of 5.73%. The company had revenue of $12.88 million for the quarter, compared to analysts’ expectations of $12.23 million. sell-side analysts expect that Asure Software will post 0.47 EPS for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ASUR. Russell Investments Group Ltd. grew its position in Asure Software by 31.7% in the 1st quarter. Russell Investments Group Ltd. now owns 61,002 shares of the technology company’s stock valued at $627,000 after acquiring an additional 14,679 shares in the last quarter. Wells Fargo & Company MN acquired a new position in Asure Software in the 1st quarter valued at about $525,000. Dimensional Fund Advisors LP acquired a new position in Asure Software in the 1st quarter valued at about $519,000. Renaissance Technologies LLC grew its position in Asure Software by 3.4% in the 1st quarter. Renaissance Technologies LLC now owns 415,476 shares of the technology company’s stock valued at $4,271,000 after acquiring an additional 13,600 shares in the last quarter. Finally, Skylands Capital LLC grew its position in Asure Software by 11.4% in the 2nd quarter. Skylands Capital LLC now owns 148,775 shares of the technology company’s stock valued at $2,174,000 after acquiring an additional 15,199 shares in the last quarter. 41.06% of the stock is owned by institutional investors.
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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