Brokerages forecast that Asure Software Inc (NASDAQ:ASUR) will report $24.75 million in sales for the current quarter, Zacks Investment Research reports. Three analysts have issued estimates for Asure Software’s earnings. The lowest sales estimate is $24.60 million and the highest is $25.00 million. Asure Software posted sales of $15.53 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 59.4%. The business is expected to issue its next earnings results on Monday, November 12th.
According to Zacks, analysts expect that Asure Software will report full year sales of $93.27 million for the current fiscal year, with estimates ranging from $93.01 million to $93.60 million. For the next financial year, analysts anticipate that the company will report sales of $109.79 million per share, with estimates ranging from $108.40 million to $110.88 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Asure Software.
Asure Software (NASDAQ:ASUR) last issued its earnings results on Wednesday, August 8th. The technology company reported $0.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.12 by $0.02. The business had revenue of $21.77 million during the quarter, compared to the consensus estimate of $21.53 million. Asure Software had a positive return on equity of 9.05% and a negative net margin of 11.85%.
A number of brokerages have weighed in on ASUR. Barrington Research set a $25.00 target price on Asure Software and gave the stock a “buy” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded Asure Software from a “hold” rating to a “sell” rating in a report on Tuesday, July 10th. Canaccord Genuity lifted their target price on Asure Software from $21.00 to $22.00 and gave the stock a “buy” rating in a report on Tuesday, July 10th. ValuEngine downgraded Asure Software from a “buy” rating to a “hold” rating in a report on Wednesday, May 23rd. Finally, Dougherty & Co began coverage on Asure Software in a report on Tuesday, August 28th. They issued a “buy” rating and a $20.00 target price for the company. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $20.43.
In other Asure Software news, Director Daniel M. Gill sold 500,000 shares of the firm’s stock in a transaction that occurred on Monday, June 18th. The stock was sold at an average price of $16.45, for a total value of $8,225,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 18.20% of the company’s stock.
Institutional investors have recently made changes to their positions in the business. Dubuque Bank & Trust Co. acquired a new stake in Asure Software in the first quarter valued at approximately $125,000. Element Capital Management LLC acquired a new stake in Asure Software in the first quarter valued at approximately $142,000. Cambridge Investment Research Advisors Inc. acquired a new stake in Asure Software in the first quarter valued at approximately $187,000. Cynosure Advisors LLC acquired a new stake in Asure Software in the second quarter valued at approximately $201,000. Finally, Engineers Gate Manager LP acquired a new stake in Asure Software in the second quarter valued at approximately $227,000. 60.81% of the stock is owned by hedge funds and other institutional investors.
ASUR stock traded down $0.38 during mid-day trading on Thursday, reaching $13.80. The company’s stock had a trading volume of 129,800 shares, compared to its average volume of 186,549. The company has a market cap of $213.71 million, a P/E ratio of 31.33, a PEG ratio of 0.92 and a beta of 1.07. The company has a debt-to-equity ratio of 1.06, a quick ratio of 1.52 and a current ratio of 1.54. Asure Software has a 12 month low of $10.08 and a 12 month high of $19.78.
About Asure Software
Asure Software Inc provides cloud-based software-as-a-service time and labor management, and workspace management solutions worldwide. The company's product line includes AsureSpace workplace management solutions that enable organizations to manage their office environments and optimize real estate utilization; and AsureForce time and labor management solutions to help organizations optimize workforce, as well as control labor administration costs and activities.
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