Asure Software (NASDAQ:ASUR) Trading Down 6.6% on Analyst Downgrade

Asure Software Inc (NASDAQ:ASUR) shares dropped 6.6% on Tuesday after Lake Street Capital lowered their price target on the stock from $14.00 to $12.00. Lake Street Capital currently has a buy rating on the stock. Asure Software traded as low as $8.00 and last traded at $8.69, approximately 730,200 shares were traded during mid-day trading. An increase of 138% from the average daily volume of 306,530 shares. The stock had previously closed at $9.30.

ASUR has been the subject of several other reports. Needham & Company LLC decreased their price target on shares of Asure Software from $12.00 to $11.00 and set a “buy” rating for the company in a research note on Tuesday. Zacks Investment Research cut shares of Asure Software from a “buy” rating to a “hold” rating in a report on Monday, October 28th. Roth Capital reiterated a “buy” rating on shares of Asure Software in a report on Friday, August 9th. ValuEngine cut shares of Asure Software from a “buy” rating to a “hold” rating in a report on Monday. Finally, Northland Securities reiterated a “buy” rating and set a $9.00 price objective on shares of Asure Software in a report on Wednesday, October 9th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $11.93.

Several hedge funds and other institutional investors have recently modified their holdings of the company. S Squared Technology LLC grew its holdings in shares of Asure Software by 21.2% during the second quarter. S Squared Technology LLC now owns 94,108 shares of the technology company’s stock valued at $775,000 after buying an additional 16,461 shares during the last quarter. Perritt Capital Management Inc. grew its holdings in shares of Asure Software by 9.4% during the second quarter. Perritt Capital Management Inc. now owns 233,400 shares of the technology company’s stock valued at $1,921,000 after buying an additional 20,000 shares during the last quarter. Paloma Partners Management Co acquired a new position in shares of Asure Software during the second quarter valued at about $556,000. Pacific Ridge Capital Partners LLC grew its holdings in shares of Asure Software by 9.3% during the second quarter. Pacific Ridge Capital Partners LLC now owns 870,454 shares of the technology company’s stock valued at $7,164,000 after buying an additional 74,098 shares during the last quarter. Finally, Skylands Capital LLC grew its holdings in shares of Asure Software by 69.3% during the second quarter. Skylands Capital LLC now owns 378,550 shares of the technology company’s stock valued at $3,115,000 after buying an additional 154,946 shares during the last quarter. Hedge funds and other institutional investors own 42.33% of the company’s stock.

The stock has a market capitalization of $142.61 million, a price-to-earnings ratio of 20.21, a PEG ratio of 1.67 and a beta of 1.31. The business’s fifty day moving average price is $8.16 and its 200-day moving average price is $7.57. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.04 and a quick ratio of 1.00.

Asure Software (NASDAQ:ASUR) last released its quarterly earnings results on Monday, November 11th. The technology company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.08. Asure Software had a negative net margin of 9.77% and a positive return on equity of 6.81%. The business had revenue of $24.56 million for the quarter, compared to analysts’ expectations of $25.31 million. Equities research analysts predict that Asure Software Inc will post 0.32 earnings per share for the current fiscal year.

Asure Software Company Profile (NASDAQ:ASUR)

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.

Recommended Story: How is the S&P 500 index different from the DJIA?

Receive News & Ratings for Asure Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Asure Software and related companies with MarketBeat.com's FREE daily email newsletter.