Zacks Investment Research Downgrades Asure Software (ASUR) to Sell

Zacks Investment Research downgraded shares of Asure Software (NASDAQ:ASUR) from a hold rating to a sell rating in a research note published on Monday, December 18th.

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 research reports. Craig Hallum assumed coverage on shares of Asure Software in a report on Monday, December 4th. They issued a buy rating on the stock. Cowen assumed coverage on shares of Asure Software in a report on Wednesday, September 6th. They issued an outperform rating and a $16.00 price target on the stock. Dougherty & Co restated a buy rating on shares of Asure Software in a report on Monday, November 20th. Scotiabank downgraded shares of Asure Software from an outperform rating to a sector perform rating in a research report on Thursday, September 7th. Finally, Northland Securities reaffirmed a buy rating and issued a $18.00 price objective on shares of Asure Software in a research report on Thursday, September 21st. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the stock. Asure Software presently has an average rating of Buy and a consensus target price of $17.63.

Shares of Asure Software (NASDAQ ASUR) traded up $0.08 during mid-day trading on Monday, hitting $14.87. 113,444 shares of the stock traded hands, compared to its average volume of 124,487. The stock has a market cap of $184.38, a price-to-earnings ratio of -39.13, a P/E/G ratio of 0.75 and a beta of 1.17. Asure Software has a 1-year low of $9.47 and a 1-year high of $17.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.37 and a current ratio of 1.39.

A number of institutional investors have recently added to or reduced their stakes in the business. Argent Capital Management LLC acquired a new position in Asure Software in the third quarter worth $1,691,000. Alyeska Investment Group L.P. boosted its holdings in Asure Software by 548.1% in the third quarter. Alyeska Investment Group L.P. now owns 450,000 shares of the technology company’s stock worth $5,589,000 after purchasing an additional 380,570 shares during the period. Allianz Asset Management GmbH boosted its holdings in Asure Software by 45.6% in the third quarter. Allianz Asset Management GmbH now owns 86,285 shares of the technology company’s stock worth $1,072,000 after purchasing an additional 27,015 shares during the period. Unterberg Capital LLC lifted its stake in Asure Software by 50.0% in the third quarter. Unterberg Capital LLC now owns 300,000 shares of the technology company’s stock valued at $3,726,000 after buying an additional 100,000 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Asure Software by 93.3% in the third quarter. Dimensional Fund Advisors LP now owns 231,715 shares of the technology company’s stock valued at $2,878,000 after buying an additional 111,819 shares during the last quarter. 46.61% of the stock is owned by hedge funds and other institutional investors.

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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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