Asure Software (NASDAQ:ASUR) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday.
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. Canaccord Genuity reissued a “buy” rating and issued a $13.00 price target on shares of Asure Software in a research report on Friday, March 15th. Barrington Research set a $15.00 price target on Asure Software and gave the stock a “buy” rating in a research report on Thursday, March 7th. Roth Capital reduced their target price on Asure Software from $23.00 to $15.00 and set a “buy” rating on the stock in a research report on Tuesday, January 8th. TheStreet lowered Asure Software from a “c-” rating to a “d+” rating in a research report on Tuesday, December 11th. Finally, ValuEngine raised Asure Software from a “strong sell” rating to a “sell” rating in a research report on Monday, February 4th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have assigned a buy rating to the company. Asure Software presently has an average rating of “Hold” and a consensus target price of $13.38.
Shares of ASUR traded down $0.29 during trading hours on Wednesday, hitting $6.25. The company had a trading volume of 260,844 shares, compared to its average volume of 204,499. The firm has a market cap of $98.10 million, a price-to-earnings ratio of 14.53, a PEG ratio of 0.32 and a beta of 0.92. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 1.09. Asure Software has a one year low of $4.26 and a one year high of $19.78.
Asure Software (NASDAQ:ASUR) last released its quarterly earnings results on Thursday, March 14th. The technology company reported $0.09 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.05). The company had revenue of $24.42 million during the quarter, compared to the consensus estimate of $23.99 million. Asure Software had a positive return on equity of 7.09% and a negative net margin of 8.49%. On average, equities research analysts forecast that Asure Software will post 0.72 EPS for the current year.
A number of institutional investors have recently bought and sold shares of the business. New Jersey Better Educational Savings Trust grew its stake in Asure Software by 9.1% during the 4th quarter. New Jersey Better Educational Savings Trust now owns 24,000 shares of the technology company’s stock valued at $122,000 after purchasing an additional 2,000 shares during the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in Asure Software by 15.8% during the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 22,000 shares of the technology company’s stock valued at $112,000 after purchasing an additional 3,000 shares during the last quarter. NJ State Employees Deferred Compensation Plan grew its stake in Asure Software by 9.4% during the 4th quarter. NJ State Employees Deferred Compensation Plan now owns 70,000 shares of the technology company’s stock valued at $356,000 after purchasing an additional 6,000 shares during the last quarter. Geode Capital Management LLC grew its stake in Asure Software by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 132,250 shares of the technology company’s stock valued at $671,000 after purchasing an additional 6,418 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its stake in Asure Software by 31.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 34,436 shares of the technology company’s stock valued at $428,000 after purchasing an additional 8,222 shares during the last quarter. Institutional investors and hedge funds own 56.07% of the company’s stock.
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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