American Software (NASDAQ:AMSWA) Cut to “Hold” at Zacks Investment Research

American Software (NASDAQ:AMSWAGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports.

According to Zacks, “American Software Inc., through its subsidiaries, develops, markets and supports a portfolio of application software solutions that enable businesses to respond to today’s dynamic global marketplace. The company’s software and services solutions are designed to automate many planning and operational functions principally in the areas of: (i) Enterprise Resource Planning (ERP), (ii) Flow Manufacturing, (iii) E-Commerce Solutions and (iv) Logility Value Chain Solutions(TM). The company’s products are designed to provide rapid return on investment. “

A number of other analysts have also recently commented on AMSWA. B. Riley cut their target price on shares of American Software from $24.50 to $23.00 in a research note on Thursday, February 24th. StockNews.com raised shares of American Software from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 25th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $30.25.

Shares of AMSWA stock traded down $0.82 on Tuesday, reaching $17.55. 81,420 shares of the company were exchanged, compared to its average volume of 93,072. The company has a market cap of $588.94 million, a price-to-earnings ratio of 47.43 and a beta of 0.73. The business has a 50-day moving average price of $20.47 and a 200 day moving average price of $23.72. American Software has a 1 year low of $17.44 and a 1 year high of $33.26.

American Software (NASDAQ:AMSWAGet Rating) last released its earnings results on Wednesday, February 23rd. The software maker reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.04 by $0.05. The business had revenue of $32.42 million during the quarter, compared to analysts’ expectations of $30.27 million. American Software had a net margin of 10.09% and a return on equity of 9.77%. During the same quarter in the previous year, the company earned $0.07 earnings per share. Analysts anticipate that American Software will post 0.31 EPS for the current year.

Several hedge funds have recently modified their holdings of the company. Two Sigma Advisers LP increased its stake in American Software by 80.3% during the 3rd quarter. Two Sigma Advisers LP now owns 47,600 shares of the software maker’s stock worth $1,131,000 after buying an additional 21,200 shares during the period. Eagle Asset Management Inc. increased its stake in American Software by 13.5% during the 3rd quarter. Eagle Asset Management Inc. now owns 455,218 shares of the software maker’s stock worth $10,811,000 after buying an additional 54,037 shares during the period. Man Group plc purchased a new stake in American Software during the 3rd quarter worth approximately $430,000. William Blair Investment Management LLC increased its stake in American Software by 1.1% during the 3rd quarter. William Blair Investment Management LLC now owns 925,126 shares of the software maker’s stock worth $21,972,000 after buying an additional 10,063 shares during the period. Finally, Macquarie Group Ltd. increased its position in shares of American Software by 308.4% in the 3rd quarter. Macquarie Group Ltd. now owns 3,753 shares of the software maker’s stock valued at $89,000 after purchasing an additional 2,834 shares during the last quarter. Hedge funds and other institutional investors own 84.36% of the company’s stock.

American Software Company Profile (Get Rating)

American Software, Inc develops, markets, and supports a range of computer business application software products in the United States and internationally. It operates through three segments: Supply Chain Management (SCM), Information Technology Consulting (IT Consulting), and Other. The SCM segment provides demand optimization, inventory optimization, supply optimization, retail optimization, quality and compliance, PLM, sourcing management, and integrated business planning services.

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