Asure Software Inc (NASDAQ:ASUR) Stock Rating Lowered by Zacks Investment Research
Asure Software Inc (NASDAQ:ASUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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. “
ASUR has been the topic of several other research reports. Canaccord Genuity raised their target price on shares of Asure Software from $17.00 to $18.00 and gave the company a “buy” rating in a report on Wednesday, May 31st. Wunderlich raised their target price on shares of Asure Software from $15.00 to $18.00 and gave the company a “buy” rating in a report on Friday, May 12th. Finally, Lake Street Capital reaffirmed a “buy” rating and issued a $16.00 target price (up previously from $12.00) on shares of Asure Software in a report on Friday, May 12th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Asure Software presently has a consensus rating of “Buy” and an average price target of $15.50.
Shares of Asure Software (ASUR) traded up 1.43% on Wednesday, hitting $13.52. 23,669 shares of the stock were exchanged. The company’s 50 day moving average is $14.15 and its 200-day moving average is $12.36. Asure Software has a 52-week low of $4.65 and a 52-week high of $17.27. The stock’s market cap is $116.68 million.
Asure Software (NASDAQ:ASUR) last issued its earnings results on Thursday, May 11th. The technology company reported ($0.02) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by $0.08. The firm had revenue of $10.73 million during the quarter, compared to analyst estimates of $10.03 million. Asure Software had a negative net margin of 1.21% and a positive return on equity of 19.31%. Analysts predict that Asure Software will post $0.56 EPS for the current fiscal year.
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A number of hedge funds have recently added to or reduced their stakes in ASUR. Alambic Investment Management L.P. bought a new stake in Asure Software during the first quarter worth $122,000. DORCHESTER WEALTH MANAGEMENT Co bought a new stake in Asure Software during the second quarter worth $161,000. Monarch Partners Asset Management LLC bought a new stake in Asure Software during the second quarter worth $243,000. Russell Investments Group Ltd. bought a new stake in Asure Software during the fourth quarter worth $414,000. Finally, Navellier & Associates Inc bought a new stake in Asure Software during the first quarter worth $454,000. 23.28% of the stock is currently owned by institutional investors.
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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