Asure Software (NASDAQ:ASUR) Rating Increased to Buy at Zacks Investment Research

Asure Software (NASDAQ:ASUR) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Tuesday, Zacks.com reports. The firm presently has a $9.50 price target on the technology company’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 10.85% from the company’s previous close.

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 issued reports on ASUR. ValuEngine raised Asure Software from a “hold” rating to a “buy” rating in a research note on Thursday, October 10th. Needham & Company LLC reiterated a “buy” rating and set a $12.00 price target on shares of Asure Software in a report on Monday, October 14th. Roth Capital restated a “buy” rating on shares of Asure Software in a research note on Friday, August 9th. Northland Securities restated a “buy” rating and issued a $9.00 price objective on shares of Asure Software in a research note on Wednesday, October 9th. Finally, Barrington Research assumed coverage on Asure Software in a research note on Wednesday, October 9th. They issued a “buy” rating and a $15.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $12.31.

Asure Software stock traded up $0.09 during mid-day trading on Tuesday, hitting $8.57. 37,123 shares of the company’s stock traded hands, compared to its average volume of 831,315. Asure Software has a fifty-two week low of $4.26 and a fifty-two week high of $11.70. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.00. The stock has a market cap of $133.73 million, a price-to-earnings ratio of 19.93, a P/E/G ratio of 1.53 and a beta of 1.26. The firm has a 50 day simple moving average of $7.25 and a two-hundred day simple moving average of $7.36.

Asure Software (NASDAQ:ASUR) last issued its quarterly earnings results on Thursday, August 8th. The technology company reported $0.05 EPS for the quarter, topping the Zacks’ consensus estimate of $0.02 by $0.03. Asure Software had a positive return on equity of 6.81% and a negative net margin of 9.77%. The company had revenue of $24.84 million for the quarter, compared to analysts’ expectations of $24.64 million. On average, research analysts anticipate that Asure Software will post 0.32 earnings per share for the current fiscal year.

Institutional investors and hedge funds have recently modified their holdings of the stock. Paloma Partners Management Co purchased a new stake in Asure Software during the 2nd quarter worth about $556,000. S Squared Technology LLC increased its stake in Asure Software by 21.2% in the 2nd quarter. S Squared Technology LLC now owns 94,108 shares of the technology company’s stock worth $775,000 after acquiring an additional 16,461 shares during the last quarter. Perritt Capital Management Inc. increased its stake in Asure Software by 9.4% in the 2nd quarter. Perritt Capital Management Inc. now owns 233,400 shares of the technology company’s stock worth $1,921,000 after acquiring an additional 20,000 shares during the last quarter. Skylands Capital LLC increased its stake in Asure Software by 69.3% in the 2nd quarter. Skylands Capital LLC now owns 378,550 shares of the technology company’s stock worth $3,115,000 after acquiring an additional 154,946 shares during the last quarter. Finally, Pacific Ridge Capital Partners LLC increased its stake in Asure Software by 9.3% in the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 870,454 shares of the technology company’s stock worth $7,164,000 after acquiring an additional 74,098 shares during the last quarter. 45.22% of the stock is currently owned by institutional investors and hedge funds.

Asure Software Company Profile

Asure Software, Inc provides cloud-based human capital management and workspace management solutions worldwide. Its product line includes AsureSpace workspace management solutions that enable organizations to optimize their real estate investment, and create a digital workspace that empowers mobile and virtual employees; and AsureForce time and labor management solutions to help organizations optimize their workforce, as well as control labor administration costs and activities.

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