Asure Software (ASUR) Rating Lowered to Hold at Zacks Investment Research

Asure Software (NASDAQ:ASUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

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 equities analysts have also recently weighed in on the company. Northland Securities set a $19.00 target price on Asure Software and gave the company a “buy” rating in a research note on Wednesday, January 3rd. Dougherty & Co reaffirmed a “buy” rating and set a $18.00 target price (up previously from $17.00) on shares of Asure Software in a research note on Wednesday, January 3rd. Canaccord Genuity reaffirmed a “buy” rating and set a $20.00 target price on shares of Asure Software in a research note on Tuesday, January 2nd. Cowen lifted their target price on Asure Software from $17.00 to $20.00 and gave the company an “outperform” rating in a research note on Tuesday, December 19th. Finally, Craig Hallum assumed coverage on Asure Software in a research note on Monday, December 4th. They set a “buy” rating on the stock. Two analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $17.63.

Asure Software (NASDAQ:ASUR) traded up $0.18 during trading hours on Thursday, reaching $15.06. The company’s stock had a trading volume of 114,479 shares, compared to its average volume of 122,765. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04. Asure Software has a 52 week low of $9.47 and a 52 week high of $17.27. The stock has a market cap of $187.06, a PE ratio of -38.62, a PEG ratio of 0.75 and a beta of 1.21.

Asure Software (NASDAQ:ASUR) last released its earnings results on Monday, November 13th. The technology company reported $0.14 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.14. Asure Software had a positive return on equity of 6.96% and a negative net margin of 8.28%. sell-side analysts forecast that Asure Software will post 0.47 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. Northpointe Capital LLC lifted its holdings in shares of Asure Software by 33.9% during the 3rd quarter. Northpointe Capital LLC now owns 544,418 shares of the technology company’s stock valued at $6,762,000 after buying an additional 137,769 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Asure Software by 2.8% during the 3rd quarter. Russell Investments Group Ltd. now owns 479,629 shares of the technology company’s stock valued at $5,956,000 after buying an additional 13,279 shares during the last quarter. Alyeska Investment Group L.P. lifted its holdings in shares of Asure Software by 548.1% during the 3rd quarter. Alyeska Investment Group L.P. now owns 450,000 shares of the technology company’s stock valued at $5,589,000 after buying an additional 380,570 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Asure Software by 24.0% during the 2nd quarter. Vanguard Group Inc. now owns 322,333 shares of the technology company’s stock valued at $4,710,000 after buying an additional 62,418 shares during the last quarter. Finally, Unterberg Capital LLC lifted its holdings in Asure Software by 50.0% in the 3rd quarter. Unterberg Capital LLC now owns 300,000 shares of the technology company’s stock worth $3,726,000 after purchasing an additional 100,000 shares during the last quarter. Institutional investors and hedge funds own 46.61% of the company’s stock.

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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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