Needham & Company LLC Cuts Asure Software (NASDAQ:ASUR) Price Target to $15.00

Asure Software (NASDAQ:ASUR) had its price target cut by Needham & Company LLC from $20.00 to $15.00 in a research note released on Friday,Benzinga reports. They currently have a buy rating on the technology company’s stock.

Separately, Barrington Research restated an “outperform” rating and set a $17.00 price target on shares of Asure Software in a report on Tuesday, July 22nd. Six analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $14.00.

Asure Software Stock Down 13.7%

Shares of NASDAQ:ASUR opened at $8.37 on Friday. Asure Software has a 1 year low of $7.51 and a 1 year high of $12.74. The company has a market cap of $227.25 million, a PE ratio of -14.43, a P/E/G ratio of 0.82 and a beta of 0.41. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.27 and a quick ratio of 1.27. The stock’s 50-day moving average is $9.97 and its 200 day moving average is $10.22.

Asure Software (NASDAQ:ASUR) last announced its quarterly earnings results on Thursday, May 1st. The technology company reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.18 by ($0.06). Asure Software had a negative net margin of 12.49% and a positive return on equity of 4.20%. Sell-side analysts anticipate that Asure Software will post 0.37 EPS for the current year.

Insiders Place Their Bets

In other Asure Software news, Director Ben F. Allen sold 10,000 shares of Asure Software stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $10.00, for a total transaction of $100,000.00. Following the sale, the director directly owned 47,645 shares of the company’s stock, valued at approximately $476,450. The trade was a 17.35% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 8.70% of the company’s stock.

Institutional Trading of Asure Software

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. grew its stake in shares of Asure Software by 4.3% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 67,467 shares of the technology company’s stock worth $644,000 after buying an additional 2,791 shares during the last quarter. American Century Companies Inc. grew its stake in shares of Asure Software by 8.5% in the 4th quarter. American Century Companies Inc. now owns 39,313 shares of the technology company’s stock worth $370,000 after buying an additional 3,078 shares during the last quarter. Bank of America Corp DE lifted its position in Asure Software by 13.6% in the 4th quarter. Bank of America Corp DE now owns 27,505 shares of the technology company’s stock valued at $259,000 after acquiring an additional 3,287 shares in the last quarter. Wells Fargo & Company MN lifted its position in Asure Software by 29.7% in the 4th quarter. Wells Fargo & Company MN now owns 15,199 shares of the technology company’s stock valued at $143,000 after acquiring an additional 3,480 shares in the last quarter. Finally, Barclays PLC lifted its position in Asure Software by 17.7% in the 4th quarter. Barclays PLC now owns 36,586 shares of the technology company’s stock valued at $344,000 after acquiring an additional 5,511 shares in the last quarter. Hedge funds and other institutional investors own 71.58% of the company’s stock.

About Asure Software

Asure Software, Inc engages in the provision of cloud-based Human Capital Management (HCM) software solutions in the United States. It provides its human resources (HR) tool as Software-as-a-Service that helps various small and medium-sized businesses to build productive workforce to help them stay compliant and allocate resources to grow their business.