Asure Software Inc (NASDAQ:ASUR) shares reached a new 52-week low during trading on Friday following a dissappointing earnings announcement. The stock traded as low as $7.50 and last traded at $8.50, with a volume of 24140 shares traded. The stock had previously closed at $11.04.
The technology company reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.14 by ($0.02). The business had revenue of $23.46 million during the quarter, compared to the consensus estimate of $24.75 million. Asure Software had a negative net margin of 11.85% and a positive return on equity of 9.05%.
Several equities analysts recently issued reports on ASUR shares. Zacks Investment Research raised Asure Software from a “sell” rating to a “hold” rating in a research report on Monday, September 17th. Dougherty & Co began coverage on Asure Software in a report on Tuesday, August 28th. They set a “buy” rating and a $20.00 price target on the stock. ValuEngine cut Asure Software from a “buy” rating to a “hold” rating in a report on Monday, September 17th. Finally, Barrington Research set a $25.00 price target on Asure Software and gave the company a “buy” rating in a report on Tuesday, July 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $19.71.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ASUR. Northern Trust Corp lifted its holdings in shares of Asure Software by 32.9% during the 1st quarter. Northern Trust Corp now owns 33,009 shares of the technology company’s stock valued at $404,000 after buying an additional 8,166 shares during the period. Millennium Management LLC bought a new position in shares of Asure Software during the 1st quarter valued at $1,251,000. Allianz Asset Management GmbH lifted its holdings in shares of Asure Software by 19.1% during the 1st quarter. Allianz Asset Management GmbH now owns 256,997 shares of the technology company’s stock valued at $3,146,000 after buying an additional 41,172 shares during the period. Skylands Capital LLC lifted its holdings in shares of Asure Software by 14.0% during the 2nd quarter. Skylands Capital LLC now owns 316,450 shares of the technology company’s stock valued at $5,047,000 after buying an additional 38,950 shares during the period. Finally, Penn Capital Management Co. Inc. bought a new position in shares of Asure Software during the 2nd quarter valued at $667,000. 62.29% of the stock is currently owned by hedge funds and other institutional investors.
The firm has a market cap of $165.57 million, a price-to-earnings ratio of 21.23, a price-to-earnings-growth ratio of 0.71 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.54 and a quick ratio of 1.52.
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Asure Software Company Profile (NASDAQ:ASUR)
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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