Zacks Investment Research downgraded shares of American Software (NASDAQ:AMSWA) from a hold rating to a sell rating in a research report sent to investors on Friday morning.
According to Zacks, “American Software Inc., through its subsidiaries, develops, markets and supports a portfolio of application software solutions that enable businesses to respond to today’s dynamic global marketplace. The company’s software and services solutions are designed to automate many planning and operational functions principally in the areas of: (i) Enterprise Resource Planning (ERP), (ii) Flow Manufacturing, (iii) E-Commerce Solutions and (iv) Logility Value Chain Solutions(TM). The company’s products are designed to provide rapid return on investment. “
Separately, B. Riley reiterated a buy rating and set a $14.00 price target (up previously from $12.25) on shares of American Software in a research note on Tuesday, November 28th.
Shares of American Software (AMSWA) opened at $11.78 on Friday. American Software has a 12-month low of $9.00 and a 12-month high of $13.05. The stock has a market capitalization of $356.13, a price-to-earnings ratio of 20.31 and a beta of 0.81.
The company also recently declared a quarterly dividend, which will be paid on Friday, February 23rd. Stockholders of record on Friday, February 9th will be paid a dividend of $0.11 per share. The ex-dividend date is Thursday, February 8th. This represents a $0.44 annualized dividend and a dividend yield of 3.74%. American Software’s payout ratio is 74.58%.
In other news, CFO Vincent C. Klinges sold 20,127 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $11.35, for a total transaction of $228,441.45. Following the completion of the transaction, the chief financial officer now owns 116,965 shares in the company, valued at approximately $1,327,552.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President H Allan Dow sold 3,282 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $11.05, for a total value of $36,266.10. Following the transaction, the president now owns 3,282 shares of the company’s stock, valued at approximately $36,266.10. The disclosure for this sale can be found here. Insiders have sold a total of 173,862 shares of company stock valued at $1,921,848 in the last quarter. 13.89% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Los Angeles Capital Management & Equity Research Inc. bought a new position in American Software in the 3rd quarter worth about $137,000. Citadel Advisors LLC bought a new position in American Software in the 2nd quarter worth about $133,000. GSA Capital Partners LLP boosted its stake in American Software by 5.4% in the 2nd quarter. GSA Capital Partners LLP now owns 13,615 shares of the software maker’s stock worth $140,000 after purchasing an additional 700 shares during the period. Smith Asset Management Group LP bought a new position in American Software in the 2nd quarter worth about $142,000. Finally, Commonwealth Equity Services Inc bought a new position in American Software in the 3rd quarter worth about $167,000. Institutional investors own 75.71% of the company’s stock.
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About American Software
American Software, Inc (American Software) develops, markets and supports a portfolio of software and services that delivers enterprise management, supply chain and retail planning solutions to the marketplace. The Company operates through three business segments: Supply Chain Management (SCM), Enterprise Resource Planning (ERP) and Information Technology (IT) Consulting.
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