Asure Software (ASUR) Upgraded to Hold at Zacks Investment Research

Asure Software (NASDAQ:ASUR) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Monday, June 18th.

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. “

Other equities analysts have also recently issued reports about the company. Barrington Research restated a “buy” rating and set a $20.00 price target on shares of Asure Software in a report on Monday, March 12th. Lake Street Capital increased their price target on Asure Software to $20.00 and gave the stock a “buy” rating in a report on Thursday, May 10th. ValuEngine cut Asure Software from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, Canaccord Genuity restated a “buy” rating on shares of Asure Software in a report on Thursday, May 17th. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Asure Software has an average rating of “Buy” and a consensus target price of $20.00.

Shares of Asure Software opened at $16.74 on Monday, Marketbeat reports. The stock has a market capitalization of $250.46 million, a PE ratio of 37.20, a P/E/G ratio of 0.86 and a beta of 1.25. The company has a quick ratio of 1.13, a current ratio of 1.14 and a debt-to-equity ratio of 1.65. Asure Software has a 52-week low of $9.89 and a 52-week high of $19.78.

Asure Software (NASDAQ:ASUR) last released its earnings results on Wednesday, May 9th. The technology company reported $0.13 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. The business had revenue of $19.30 million during the quarter, compared to the consensus estimate of $18.23 million. Asure Software had a negative net margin of 10.45% and a positive return on equity of 9.04%. equities research analysts expect that Asure Software will post 0.7 earnings per share for the current fiscal year.

In related news, Director Daniel M. Gill sold 500,000 shares of the stock in a transaction on Monday, June 18th. The stock was sold at an average price of $16.45, for a total value of $8,225,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 18.20% of the stock is owned by company insiders.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allianz Asset Management GmbH lifted its holdings in shares of Asure Software by 19.1% in the 1st quarter. Allianz Asset Management GmbH now owns 256,997 shares of the technology company’s stock worth $3,146,000 after purchasing an additional 41,172 shares in the last quarter. Millennium Management LLC bought a new position in Asure Software during the 1st quarter valued at $1,251,000. Ancora Advisors LLC lifted its stake in Asure Software by 92.4% during the 1st quarter. Ancora Advisors LLC now owns 211,600 shares of the technology company’s stock valued at $2,590,000 after acquiring an additional 101,600 shares in the last quarter. Element Capital Management LLC bought a new position in Asure Software during the 1st quarter valued at $142,000. Finally, Cortina Asset Management LLC bought a new position in Asure Software during the 1st quarter valued at $2,172,000. Institutional investors own 43.59% of the company’s stock.

Asure Software Company Profile

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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