Zacks Investment Research upgrades Asure (NASDAQ:ASUR) software to buy

ByLance T. Lee

May 18, 2022

Zacks Investment Research enhanced actions of Asure Software (NASDAQ:ASURGet a rating) from a hold rating to a buy rating in a report released on Tuesday, reports. The brokerage currently has a price target of $6.75 on shares of the tech company.

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 allow organizations to manage their office environment, as well as their human resources 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, payslips and W2 documentation, expense management, meetings and events and asset tracking. The company offers easy-to-use, easy-to-deploy software products that serve small and medium-sized businesses and divisions of Fortune and Global 1000 companies. It is focused on developing products that deliver enterprise-class productivity enhancements at an affordable price. , so organizations of all sizes can reap the benefits of its solutions. “

A number of other research companies also commented on ASUR. began coverage on Asure Software in a report on Friday, May 13. They issued a holding note for the company. TheStreet downgraded Asure Software from a c- to a d+ rating in a report on Thursday, April 14. One equity research analyst gave the stock a hold rating and three gave the company a buy rating. Based on data from MarketBeat, the stock has an average buy rating and an average target price of $10.58.

Shares of Asure Software Stock opened at $5.97 on Tuesday. The company has a market capitalization of $119.83 million, a PE ratio of 54.28 and a beta of 0.96. Asure Software has a 52-week minimum of $5.50 and a 52-week maximum of $9.94. The company 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 leverage ratio of 0.22.

Asure Software (NASDAQ:ASURGet a rating) last released its quarterly results on Monday, May 9. The technology company reported EPS of $0.11 for the quarter, beating consensus analyst 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 posted revenue of $24.33 million in the quarter, versus a consensus estimate of $23.60 million. During the same period last year, the company posted earnings per share of $0.09. As a group, research analysts expect Asure Software to post -0.1 EPS for the current year.

A number of large investors have been buying and selling stocks recently. Private Capital Management LLC increased 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 valued at $15,197,000 after purchasing an additional 236,468 shares during the period. Vanguard Group Inc. increased 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 valued at $10,484,000 after buying an additional 571,201 shares last quarter. Archon Capital Management LLC increased its position in Asure Software by 1.2% in the first quarter. Archon Capital Management LLC now owns 1,371,034 shares of the technology company valued at $8,158,000 after buying an additional 16,341 shares 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 valued at $12,107,000 after buying 4,388 additional shares last quarter. Finally, S Squared Technology LLC increased 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 valued at $4,994,000 after purchasing an additional 25,671 shares last quarter. 64.47% of the shares are held by institutional investors.

About Asure Software (Get a rating)

Asure Software, Inc provides cloud-based human capital management solutions in the United States. It helps various small and medium enterprises 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 that automates regulations associated with payroll and taxes, including wages, benefits, overtime, garnishments, tips, direct deposits, and the Fair Labor Standards Act, as well as federal, state, and local payroll taxes; Asure (Human Resources) HR, a cloud-based feature that handles HR complexities, such as employee self-service that gives employees access to company information, payroll history, and documents business ; and Asure Time & Attendance which provides cost savings and ROI gains in the form of strategic use of labor dollars and elimination of time theft.

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