Usca Ria LLC Makes New $29,000 Investment in American Software, Inc. (NASDAQ:AMSWA)
Usca Ria LLC purchased a new position in shares of American Software, Inc. (NASDAQ:AMSWA) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 1,946 shares of the software maker’s stock, valued at approximately $29,000.
Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. raised its holdings in shares of American Software by 13.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,921 shares of the software maker’s stock worth $105,000 after purchasing an additional 946 shares in the last quarter. FMR LLC raised its holdings in shares of American Software by 107.5% in the 1st quarter. FMR LLC now owns 2,075 shares of the software maker’s stock worth $25,000 after purchasing an additional 1,075 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of American Software by 2.9% in the 3rd quarter. Rhumbline Advisers now owns 50,093 shares of the software maker’s stock worth $752,000 after purchasing an additional 1,398 shares in the last quarter. Bessemer Group Inc. raised its holdings in shares of American Software by 1.5% in the 2nd quarter. Bessemer Group Inc. now owns 102,500 shares of the software maker’s stock worth $1,348,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of American Software by 206.5% in the 2nd quarter. Bank of Montreal Can now owns 3,543 shares of the software maker’s stock worth $46,000 after purchasing an additional 2,387 shares in the last quarter. Institutional investors own 77.47% of the company’s stock.
American Software stock opened at $16.59 on Friday. The firm’s 50 day simple moving average is $15.63 and its 200-day simple moving average is $14.13. The company has a debt-to-equity ratio of 0.02, a current ratio of 2.60 and a quick ratio of 2.60. American Software, Inc. has a fifty-two week low of $8.99 and a fifty-two week high of $16.59. The company has a market cap of $514.72 million, a P/E ratio of 59.25 and a beta of 0.53.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 22nd will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.65%. The ex-dividend date is Thursday, November 21st. American Software’s payout ratio is 157.14%.
In other news, Director James B. Miller, Jr. sold 1,690 shares of the stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $14.92, for a total value of $25,214.80. Following the completion of the transaction, the director now owns 66,301 shares in the company, valued at approximately $989,210.92. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Vincent C. Klinges sold 35,038 shares of the stock in a transaction on Friday, September 20th. The shares were sold at an average price of $15.21, for a total transaction of $532,927.98. Following the completion of the transaction, the chief financial officer now owns 131,876 shares of the company’s stock, valued at approximately $2,005,833.96. The disclosure for this sale can be found here. Insiders sold 183,162 shares of company stock valued at $2,768,661 over the last 90 days. 11.19% of the stock is owned by corporate insiders.
A number of analysts recently commented on the stock. BidaskClub downgraded shares of American Software from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 26th. Zacks Investment Research downgraded shares of American Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. B. Riley raised shares of American Software from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $13.00 to $17.00 in a research report on Thursday, August 29th. Finally, ValuEngine downgraded shares of American Software from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. American Software has an average rating of “Buy” and an average target price of $14.68.
American Software Company Profile
American Software, Inc develops, markets, and supports a portfolio of software and services worldwide. It operates in three segments: Supply Chain Management (SCM), Information Technology (IT) Consulting, and Other. The SCM segment provides supply chain management and retail planning solutions, including sales and operations planning, demand and inventory optimization, manufacturing planning and scheduling, supply optimization, retail allocation and merchandise planning, and transportation optimization solutions to streamline and optimize the forecasting, inventory, production scheduling, production, supply, allocation, distribution, and management of products between trading partners.
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