Asure Software Inc (ASUR) Expected to Post Quarterly Sales of $18.29 Million

Wall Street analysts predict that Asure Software Inc (NASDAQ:ASUR) will report $18.29 million in sales for the current fiscal quarter, according to Zacks Investment Research. Three analysts have made estimates for Asure Software’s earnings, with the highest sales estimate coming in at $19.60 million and the lowest estimate coming in at $16.90 million. Asure Software posted sales of $10.73 million during the same quarter last year, which suggests a positive year over year growth rate of 70.5%. The firm is scheduled to announce its next quarterly earnings report on Thursday, May 10th.

According to Zacks, analysts expect that Asure Software will report full year sales of $18.29 million for the current financial year, with estimates ranging from $80.50 million to $86.02 million. For the next year, analysts expect that the company will post sales of $92.90 million per share, with estimates ranging from $89.80 million to $96.00 million. Zacks’ sales calculations are an average based on a survey of research firms that cover Asure Software.

Several equities analysts have weighed in on ASUR shares. Barrington Research reissued a “buy” rating and set a $20.00 price target on shares of Asure Software in a research report on Monday, March 12th. Zacks Investment Research downgraded Asure Software from a “buy” rating to a “hold” rating in a research report on Thursday, January 18th. ValuEngine downgraded Asure Software from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Dougherty & Co reissued a “buy” rating and set a $18.00 price target (up previously from $17.00) on shares of Asure Software in a research report on Wednesday, January 3rd. Finally, Cowen raised their price target on Asure Software from $17.00 to $20.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $18.50.

NASDAQ ASUR traded up $0.13 during mid-day trading on Tuesday, hitting $14.09. The stock had a trading volume of 160,937 shares, compared to its average volume of 248,895. Asure Software has a 52-week low of $9.47 and a 52-week high of $17.53. The company has a market capitalization of $177.31, a P/E ratio of 31.31, a PEG ratio of 0.71 and a beta of 1.23. The company has a debt-to-equity ratio of 1.05, a current ratio of 1.24 and a quick ratio of 1.24.

Institutional investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC purchased a new stake in shares of Asure Software in the fourth quarter valued at $6,564,000. Alyeska Investment Group L.P. grew its position in shares of Asure Software by 548.1% in the third quarter. Alyeska Investment Group L.P. now owns 450,000 shares of the technology company’s stock valued at $5,589,000 after purchasing an additional 380,570 shares during the period. PenderFund Capital Management Ltd. purchased a new stake in shares of Asure Software in the fourth quarter valued at $4,357,000. Argent Capital Management LLC purchased a new stake in shares of Asure Software in the third quarter valued at $1,691,000. Finally, Allianz Asset Management GmbH grew its position in shares of Asure Software by 150.1% in the fourth quarter. Allianz Asset Management GmbH now owns 215,825 shares of the technology company’s stock valued at $3,047,000 after purchasing an additional 129,540 shares during the period. 52.02% of the stock is 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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