Asure Software (NASDAQ:ASUR) Upgraded by Zacks Investment Research to Buy

Zacks Investment Research upgraded shares of Asure Software (NASDAQ:ASUR) from a hold rating to a buy rating in a research report sent to investors on Wednesday, Zacks.com reports. They currently have $7.25 target price on the technology company’s stock.

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 analysts also recently weighed in on the company. Needham & Company LLC dropped their target price on Asure Software from $11.00 to $8.00 and set a buy rating on the stock in a research note on Friday, March 13th. Barrington Research dropped their price target on Asure Software from $15.00 to $12.00 and set an outperform rating on the stock in a research note on Monday, March 16th. ValuEngine upgraded Asure Software from a sell rating to a hold rating in a research note on Thursday, March 19th. Craig Hallum dropped their price target on Asure Software from $9.00 to $8.00 and set a buy rating on the stock in a research note on Friday, April 24th. Finally, Lake Street Capital dropped their price target on Asure Software from $12.00 to $10.00 and set a buy rating on the stock in a research note on Friday, March 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. The company has an average rating of Buy and an average target price of $9.46.

ASUR stock traded up $0.28 on Wednesday, hitting $6.65. 4,899 shares of the company’s stock were exchanged, compared to its average volume of 310,333. Asure Software has a 12-month low of $4.30 and a 12-month high of $10.25. The firm has a 50 day moving average price of $6.48 and a two-hundred day moving average price of $7.15. The company has a debt-to-equity ratio of 0.16, a quick ratio of 1.10 and a current ratio of 1.11. The stock has a market cap of $100.73 million, a P/E ratio of 3.31, a price-to-earnings-growth ratio of 1.84 and a beta of 1.18.

Asure Software (NASDAQ:ASUR) last announced its earnings results on Thursday, May 7th. The technology company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. Asure Software had a return on equity of 2.28% and a net margin of 36.22%. The firm had revenue of $18.95 million for the quarter, compared to the consensus estimate of $18.72 million. Sell-side analysts expect that Asure Software will post 0.25 earnings per share for the current fiscal year.

In related news, Director William Carl Drew acquired 10,000 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The stock was acquired at an average price of $6.37 per share, with a total value of $63,700.00. Also, Director Red Oak Partners, Llc sold 18,555 shares of the business’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $7.47, for a total value of $138,605.85. The disclosure for this sale can be found here. Insiders own 20.60% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citigroup Inc. raised its holdings in Asure Software by 493.3% in the 4th quarter. Citigroup Inc. now owns 9,096 shares of the technology company’s stock worth $74,000 after purchasing an additional 7,563 shares during the period. RBF Capital LLC acquired a new position in Asure Software in the 1st quarter worth about $61,000. Heritage Investors Management Corp acquired a new position in Asure Software in the 1st quarter worth about $76,000. Creative Planning acquired a new position in Asure Software in the 1st quarter worth about $81,000. Finally, M&T Bank Corp raised its holdings in Asure Software by 14.6% in the 1st quarter. M&T Bank Corp now owns 14,837 shares of the technology company’s stock worth $88,000 after purchasing an additional 1,894 shares during the period. 63.84% of the stock is owned by institutional investors.

Asure Software Company Profile

Asure Software, Inc provides cloud-based human capital management and workspace management solutions worldwide. Its product line includes AsureSpace workspace management solutions that enable organizations to optimize their real estate investment, and create a digital workspace that empowers mobile and virtual employees; and AsureForce time and labor management solutions to help organizations optimize their workforce, as well as control labor administration costs and activities.

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