Asure Software (ASUR) Posts Quarterly Earnings Results, Misses Expectations By $0.02 EPS

Asure Software (NASDAQ:ASUR) released its quarterly earnings results on Friday. The technology company reported $0.12 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.14 by ($0.02), Morningstar.com reports. The firm had revenue of $23.46 million for the quarter, compared to the consensus estimate of $24.75 million. Asure Software had a positive return on equity of 9.05% and a negative net margin of 11.85%. Asure Software updated its FY 2018 guidance to EPS and its FY 2019 guidance to EPS.

ASUR stock traded down $3.29 during trading on Friday, hitting $7.75. The company had a trading volume of 1,471,059 shares, compared to its average volume of 229,296. Asure Software has a one year low of $7.50 and a one year high of $19.78. The stock has a market capitalization of $172.32 million, a PE ratio of 17.22, a PEG ratio of 0.74 and a beta of 1.10. The company has a debt-to-equity ratio of 1.06, a current ratio of 1.54 and a quick ratio of 1.52.

Several research firms have recently weighed in on ASUR. Zacks Investment Research upgraded Asure Software from a “sell” rating to a “hold” rating in a report on Tuesday, October 23rd. ValuEngine cut Asure Software from a “sell” rating to a “strong sell” rating in a report on Saturday. Barrington Research set a $25.00 price target on Asure Software and gave the stock a “buy” rating in a report on Thursday, August 23rd. Finally, Lake Street Capital set a $15.00 price target on Asure Software and gave the stock a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and eight have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $19.71.

A number of hedge funds have recently made changes to their positions in ASUR. BlackRock Inc. boosted its holdings in Asure Software by 549.7% in the second quarter. BlackRock Inc. now owns 687,258 shares of the technology company’s stock valued at $10,961,000 after acquiring an additional 581,475 shares during the last quarter. Unterberg Capital LLC bought a new stake in Asure Software in the third quarter valued at approximately $4,223,000. PenderFund Capital Management Ltd. boosted its holdings in Asure Software by 102.8% in the third quarter. PenderFund Capital Management Ltd. now owns 558,751 shares of the technology company’s stock valued at $7,798,000 after acquiring an additional 283,200 shares during the last quarter. Castleark Management LLC bought a new stake in Asure Software in the second quarter valued at approximately $3,066,000. Finally, Renaissance Technologies LLC bought a new stake in Asure Software in the second quarter valued at approximately $2,247,000. Institutional investors and hedge funds own 62.29% of the company’s stock.

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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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Earnings History for Asure Software (NASDAQ:ASUR)

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