Asure Software (ASUR) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Asure Software (NASDAQ:ASUR) from a hold rating to a sell rating in a report published on Thursday morning.

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. “

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Several other analysts have also weighed in on the company. Cowen lifted their price objective on Asure Software from $17.00 to $20.00 and gave the stock an outperform rating in a report on Tuesday, December 19th. Northland Securities set a $19.00 price objective on Asure Software and gave the stock a buy rating in a report on Wednesday, January 3rd. Dougherty & Co reissued a buy rating and set a $18.00 price objective (up previously from $17.00) on shares of Asure Software in a report on Wednesday, January 3rd. ValuEngine lowered Asure Software from a buy rating to a hold rating in a report on Wednesday, March 7th. Finally, Canaccord Genuity reissued a buy rating and set a $20.00 price objective on shares of Asure Software in a report on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $18.50.

Shares of Asure Software stock opened at $13.52 on Thursday. Asure Software has a fifty-two week low of $9.47 and a fifty-two week high of $17.53. The firm has a market capitalization of $170.14, a P/E ratio of 42.25, a PEG ratio of 0.73 and a beta of 1.10. The company has a current ratio of 1.24, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Several large investors have recently made changes to their positions in the company. Essex Investment Management Co. LLC acquired a new stake in Asure Software in the 4th quarter valued at $1,683,000. Russell Investments Group Ltd. boosted its stake in Asure Software by 2.8% in 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 in the last quarter. Alyeska Investment Group L.P. boosted its stake in Asure Software by 548.1% in 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 in the last quarter. Unterberg Capital LLC boosted its stake in Asure Software by 6.7% in the 4th quarter. Unterberg Capital LLC now owns 320,000 shares of the technology company’s stock valued at $4,518,000 after buying an additional 20,000 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Asure Software by 24.0% in 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 in the last quarter. 52.02% of the stock is currently owned by institutional investors.

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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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