Asure Software (ASUR) Sets New 12-Month High and Low Following Better-Than-Expected Earnings

Asure Software (NASDAQ:ASUR)’s share price reached a new 52-week high and low on Thursday following a stronger than expected earnings report. The stock traded as low as $18.80 and last traded at $18.70, with a volume of 48543 shares changing hands. The stock had previously closed at $17.87.

The technology company reported $0.13 EPS for the quarter, beating the consensus estimate of $0.08 by $0.05. The business had revenue of $19.30 million for the quarter, compared to analysts’ expectations of $18.23 million. Asure Software had a negative net margin of 10.45% and a positive return on equity of 9.05%.

ASUR has been the topic of several research reports. ValuEngine cut shares of Asure Software from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Needham & Company LLC initiated coverage on shares of Asure Software in a research report on Monday, April 23rd. They issued a “buy” rating on the stock. Barrington Research set a $20.00 price objective on shares of Asure Software and gave the company a “buy” rating in a research report on Thursday, March 29th. Zacks Investment Research cut shares of Asure Software from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. Finally, Canaccord Genuity reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Asure Software in a research report on Thursday. Two research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Asure Software has an average rating of “Buy” and an average price target of $19.13.

A number of large investors have recently modified their holdings of ASUR. Dubuque Bank & Trust Co. bought a new stake in Asure Software during the 1st quarter worth about $125,000. Goldman Sachs Group Inc. bought a new stake in Asure Software during the 4th quarter worth about $150,000. Monashee Investment Management LLC bought a new stake in Asure Software during the 4th quarter worth about $151,000. Cambridge Investment Research Advisors Inc. bought a new stake in Asure Software during the 1st quarter worth about $187,000. Finally, Virtu Financial LLC bought a new stake in Asure Software during the 4th quarter worth about $231,000. 52.18% of the stock is currently owned by hedge funds and other institutional investors.

The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05. The stock has a market capitalization of $211.16 million, a P/E ratio of 40.11, a PEG ratio of 0.85 and a beta of 1.24.

About Asure Software

Asure Software Inc provides cloud-based software-as-a-service time and labor management, and workspace management solutions worldwide. The company's product line includes AsureSpace workplace management solutions that enable organizations to manage their office environments and optimize real estate utilization; and AsureForce time and labor management solutions to help organizations optimize workforce, as well as control labor administration costs and activities.

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