Asure Software (ASUR) Downgraded 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 report issued 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 brokerages have also recently issued reports on ASUR. Cowen upped their target price on shares of Asure Software from $17.00 to $20.00 and gave the company an “outperform” rating in a report on Tuesday, December 19th. Dougherty & Co began coverage on shares of Asure Software in a research report on Tuesday, October 31st. They issued a “buy” rating and a $17.00 price target for the company. Canaccord Genuity reiterated a “buy” rating and issued a $18.00 price target on shares of Asure Software in a research report on Tuesday, October 17th. Craig Hallum began coverage on shares of Asure Software in a research report on Monday, December 4th. They issued a “buy” rating for the company. Finally, Northland Securities set a $19.00 price target on shares of Asure Software and gave the company a “buy” rating in a research report on Wednesday, January 3rd. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $17.63.

Asure Software (NASDAQ ASUR) traded up $0.18 during midday trading on Thursday, reaching $15.06. 114,479 shares of the company’s stock traded hands, compared to its average volume of 122,765. The company has a quick ratio of 1.37, a current ratio of 1.39 and a debt-to-equity ratio of 1.04. Asure Software has a 12 month low of $9.47 and a 12 month high of $17.27. The firm 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 posted its quarterly earnings results on Monday, November 13th. The technology company reported $0.14 EPS for the quarter, hitting the consensus estimate of $0.14. Asure Software had a negative net margin of 8.28% and a positive return on equity of 6.96%. sell-side analysts predict that Asure Software will post 0.47 earnings per share for the current year.

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

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About Asure Software

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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