B. Riley Cuts American Software (NASDAQ:AMSWA) Price Target to $16.00

American Software (NASDAQ:AMSWAFree Report) had its price objective reduced by B. Riley from $17.00 to $16.00 in a report released on Friday, Benzinga reports. They currently have a buy rating on the software maker’s stock. B. Riley also issued estimates for American Software’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.22 EPS and FY2025 earnings at $0.25 EPS.

Separately, StockNews.com began coverage on American Software in a research note on Thursday, October 5th. They issued a buy rating for the company.

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American Software Trading Down 3.6 %

NASDAQ:AMSWA opened at $9.63 on Friday. American Software has a 1 year low of $9.38 and a 1 year high of $15.88. The stock has a market cap of $329.02 million, a price-to-earnings ratio of 31.25 and a beta of 0.71. The stock has a 50-day moving average price of $11.16 and a two-hundred day moving average price of $11.30.

American Software (NASDAQ:AMSWAGet Free Report) last posted its earnings results on Thursday, August 24th. The software maker reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. American Software had a return on equity of 8.62% and a net margin of 9.08%. The firm had revenue of $29.17 million during the quarter, compared to analysts’ expectations of $29.07 million. During the same period in the previous year, the firm earned $0.06 earnings per share. Sell-side analysts forecast that American Software will post 0.22 earnings per share for the current year.

American Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be given a dividend of $0.11 per share. The ex-dividend date of this dividend is Thursday, November 16th. This represents a $0.44 annualized dividend and a dividend yield of 4.57%. American Software’s dividend payout ratio is currently 137.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Independent Advisor Alliance raised its holdings in American Software by 6.0% during the first quarter. Independent Advisor Alliance now owns 106,593 shares of the software maker’s stock worth $1,344,000 after acquiring an additional 6,000 shares in the last quarter. Bank of Montreal Can acquired a new position in shares of American Software in the second quarter valued at approximately $2,056,000. Mackenzie Financial Corp grew its position in shares of American Software by 22.5% in the second quarter. Mackenzie Financial Corp now owns 12,692 shares of the software maker’s stock valued at $135,000 after purchasing an additional 2,330 shares during the last quarter. Royce & Associates LP grew its position in shares of American Software by 2.7% in the second quarter. Royce & Associates LP now owns 118,801 shares of the software maker’s stock valued at $1,249,000 after purchasing an additional 3,117 shares during the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of American Software by 54.1% in the second quarter. Acadian Asset Management LLC now owns 169,092 shares of the software maker’s stock valued at $1,776,000 after purchasing an additional 59,334 shares during the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.

American Software Company Profile

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American Software, Inc develops, markets, and supports a range of computer business application software products in the United States and internationally. It operates through Supply Chain Management (SCM), Information Technology Consulting (IT Consulting), and Other segments. The SCM segment leverages a single platform spanning eight supply chain process areas including product, demand, inventory, network optimization supply, deploy aligned with integrated business planning and supply chain data management.

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