Citigroup Inc. Reduces Stock Position in American Software, Inc. (NASDAQ:AMSWA)

Citigroup Inc. cut its stake in American Software, Inc. (NASDAQ:AMSWA) by 9.7% in the first quarter, Holdings Channel.com reports. The firm owned 7,430 shares of the software maker’s stock after selling 794 shares during the quarter. Citigroup Inc.’s holdings in American Software were worth $154,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Blair William & Co. IL lifted its holdings in American Software by 15.5% in the first quarter. Blair William & Co. IL now owns 17,471 shares of the software maker’s stock valued at $362,000 after acquiring an additional 2,340 shares during the last quarter. Federated Hermes Inc. lifted its holdings in American Software by 122.9% in the first quarter. Federated Hermes Inc. now owns 3,025 shares of the software maker’s stock valued at $63,000 after acquiring an additional 1,668 shares during the last quarter. Baird Financial Group Inc. acquired a new position in American Software in the first quarter valued at approximately $582,000. William Blair Investment Management LLC lifted its holdings in American Software by 8.4% in the first quarter. William Blair Investment Management LLC now owns 952,020 shares of the software maker’s stock valued at $19,707,000 after acquiring an additional 73,970 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in American Software by 17.8% in the first quarter. Geode Capital Management LLC now owns 511,571 shares of the software maker’s stock valued at $10,589,000 after acquiring an additional 77,231 shares during the last quarter. Institutional investors and hedge funds own 82.95% of the company’s stock.

AMSWA has been the topic of a number of research reports. TheStreet upgraded American Software from a “c+” rating to a “b-” rating in a research note on Wednesday, July 14th. B. Riley upped their price target on American Software from $23.00 to $25.00 and gave the stock a “buy” rating in a research note on Wednesday, June 9th. Finally, Sidoti upgraded American Software from a “neutral” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Wednesday, June 9th.

NASDAQ:AMSWA opened at $21.29 on Thursday. The stock’s fifty day moving average price is $21.70. American Software, Inc. has a 52 week low of $13.25 and a 52 week high of $28.45. The firm has a market capitalization of $696.35 million, a PE ratio of 88.71 and a beta of 0.51.

American Software (NASDAQ:AMSWA) last posted its quarterly earnings data on Monday, June 7th. The software maker reported $0.11 earnings per share for the quarter, topping analysts’ consensus estimates of $0.05 by $0.06. American Software had a return on equity of 7.27% and a net margin of 7.26%. The business had revenue of $28.57 million for the quarter, compared to analyst estimates of $28.66 million. On average, equities research analysts predict that American Software, Inc. will post 0.17 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 27th. Stockholders of record on Friday, August 13th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Thursday, August 12th. American Software’s dividend payout ratio is currently 169.23%.

In other news, Director Thomas L. V. Newberry sold 29,820 shares of the company’s stock in a transaction on Friday, June 11th. The stock was sold at an average price of $24.88, for a total transaction of $741,921.60. Following the sale, the director now owns 3,000 shares of the company’s stock, valued at $74,640. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President H Allan Dow sold 28,693 shares of the company’s stock in a transaction on Wednesday, June 16th. The stock was sold at an average price of $24.65, for a total value of $707,282.45. Following the sale, the president now directly owns 110,008 shares in the company, valued at approximately $2,711,697.20. The disclosure for this sale can be found here. Insiders have sold 90,921 shares of company stock worth $2,222,571 in the last ninety days. Corporate insiders own 9.11% of the company’s stock.

American Software Company Profile

American Software, Inc develops, markets, and supports a range of computer business application software products and services in the United States and internationally. It operates in three segments: Supply Chain Management (SCM), Information Technology Consulting (IT Consulting), and Other. The SCM segment offers supply chain optimization and retail planning solutions, including sales and operations planning, demand optimization, inventory optimization, manufacturing planning and scheduling, supply optimization, retail allocation and merchandise planning, and transportation optimization to streamline and optimize the forecasting, inventory, production, supply, allocation, distribution, and management of products between trading partners.

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Institutional Ownership by Quarter for American Software (NASDAQ:AMSWA)

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