Zacks Investment Research Upgrades Asure Software (NASDAQ:ASUR) to Buy

Zacks Investment Research upgraded shares of Asure Software (NASDAQ:ASURGet Rating) from a hold rating to a buy rating in a report published on Tuesday, Zacks.com reports. The brokerage currently has $6.75 price objective on the technology company’s stock.

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. “

A number of other research firms have also commented on ASUR. StockNews.com began coverage on Asure Software in a report on Friday, May 13th. They issued a hold rating for the company. TheStreet lowered Asure Software from a c- rating to a d+ rating in a report on Thursday, April 14th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $10.58.

Shares of Asure Software stock opened at $5.97 on Tuesday. The company has a market cap of $119.83 million, a PE ratio of 54.28 and a beta of 0.96. Asure Software has a 52 week low of $5.50 and a 52 week high of $9.94. The business has a 50 day moving average price of $6.16 and a 200-day moving average price of $7.25. The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.22.

Asure Software (NASDAQ:ASURGet Rating) last issued its quarterly earnings results on Monday, May 9th. The technology company reported $0.11 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.05. Asure Software had a negative return on equity of 0.42% and a net margin of 2.20%. The company had revenue of $24.33 million during the quarter, compared to the consensus estimate of $23.60 million. During the same period last year, the business posted $0.09 earnings per share. As a group, research analysts anticipate that Asure Software will post -0.1 EPS for the current year.

A number of large investors have recently bought and sold shares of the stock. Private Capital Management LLC boosted its stake in Asure Software by 10.2% during the first quarter. Private Capital Management LLC now owns 2,554,153 shares of the technology company’s stock valued at $15,197,000 after buying an additional 236,468 shares during the period. Vanguard Group Inc. raised its position in Asure Software by 48.0% during the first quarter. Vanguard Group Inc. now owns 1,762,073 shares of the technology company’s stock valued at $10,484,000 after purchasing an additional 571,201 shares in the last quarter. Archon Capital Management LLC raised its position in Asure Software by 1.2% during the first quarter. Archon Capital Management LLC now owns 1,371,034 shares of the technology company’s stock valued at $8,158,000 after purchasing an additional 16,341 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its position in Asure Software by 0.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 1,343,704 shares of the technology company’s stock valued at $12,107,000 after purchasing an additional 4,388 shares in the last quarter. Finally, S Squared Technology LLC raised its position in Asure Software by 3.2% during the first quarter. S Squared Technology LLC now owns 839,409 shares of the technology company’s stock valued at $4,994,000 after purchasing an additional 25,671 shares in the last quarter. 64.47% of the stock is owned by institutional investors.

About Asure Software (Get Rating)

Asure Software, Inc provides cloud-based human capital management solutions the United States. It helps various small and mid-sized businesses to build productive teams to help them stay compliant and allocate resources to grow their business. The company's solutions include Asure Payroll & Tax, an integrated cloud-based solution automates regulations associated with payroll and taxes, including wages, benefits, overtime, garnishments, tips, direct deposits, and fair labor standard act, as well as federal, state, and local payroll taxes; Asure (human resource) HR, a cloud-based functionality that handles HR complexities, such as employee self-service that enable employees to access information, pay history, and company documents; and Asure Time & Attendance that provides cost savings and return on investment gains come in the form of strategic use of labor dollars and the elimination of time theft.

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