American Software, Inc. (NASDAQ:AMSWA) declared a quarterly dividend on Wednesday, May 29th, Zacks reports. Shareholders of record on Friday, August 16th will be given a dividend of 0.11 per share by the software maker on Friday, August 30th. This represents a $0.44 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date of this dividend is Thursday, August 15th.
American Software has raised its dividend by an average of 3.2% annually over the last three years. American Software has a dividend payout ratio of 176.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect American Software to earn $0.32 per share next year, which means the company may not be able to cover its $0.44 annual dividend with an expected future payout ratio of 137.5%.
American Software stock traded down $0.04 during mid-day trading on Tuesday, reaching $13.58. 322 shares of the company were exchanged, compared to its average volume of 58,163. The firm’s fifty day simple moving average is $13.33. American Software has a 12 month low of $8.99 and a 12 month high of $18.94. The company has a market cap of $422.98 million, a price-to-earnings ratio of 48.50 and a beta of 0.61.
A number of research firms have commented on AMSWA. Zacks Investment Research lowered American Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. William Blair restated an “outperform” rating on shares of American Software in a research note on Thursday, June 20th. Finally, BidaskClub lowered American Software from a “buy” rating to a “hold” rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $13.01.
In other news, Director J Michael Edenfield sold 6,020 shares of American Software stock in a transaction on Monday, June 24th. The stock was sold at an average price of $14.36, for a total value of $86,447.20. Following the transaction, the director now owns 421,743 shares in the company, valued at approximately $6,056,229.48. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Bryan L. Sell sold 4,000 shares of American Software stock in a transaction on Friday, June 28th. The shares were sold at an average price of $13.05, for a total value of $52,200.00. Following the completion of the transaction, the insider now owns 4,000 shares in the company, valued at approximately $52,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,310 shares of company stock worth $353,135. Corporate insiders own 11.19% of the company’s stock.
About American Software
American Software, Inc develops, markets, and supports a portfolio of software and services worldwide. It operates in three segments: Supply Chain Management (SCM), Information Technology (IT) Consulting, and Other. The SCM segment provides supply chain management and retail planning solutions, including sales and operations planning, demand and inventory optimization, manufacturing planning and scheduling, supply optimization, retail allocation and merchandise planning, and transportation optimization solutions to streamline and optimize the forecasting, inventory, production scheduling, production, supply, allocation, distribution, and management of products between trading partners.
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