$14.35 Million in Sales Expected for Asure Software Inc (NASDAQ:ASUR) This Quarter

Brokerages expect that Asure Software Inc (NASDAQ:ASUR) will announce sales of $14.35 million for the current quarter, Zacks reports. Two analysts have issued estimates for Asure Software’s earnings, with estimates ranging from $14.30 million to $14.40 million. Asure Software posted sales of $24.84 million during the same quarter last year, which would indicate a negative year over year growth rate of 42.2%. The company is scheduled to report its next earnings report on Thursday, August 13th.

On average, analysts expect that Asure Software will report full year sales of $64.94 million for the current financial year, with estimates ranging from $64.80 million to $65.07 million. For the next fiscal year, analysts expect that the business will report sales of $69.30 million. Zacks’ sales calculations are an average based on a survey of sell-side analysts that follow Asure Software.

Asure Software (NASDAQ:ASUR) last issued its quarterly earnings results on Thursday, May 7th. The technology company reported $0.21 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.16 by $0.05. The company had revenue of $18.95 million for the quarter, compared to analysts’ expectations of $18.72 million. Asure Software had a return on equity of 2.28% and a net margin of 36.22%.

Several equities research analysts recently weighed in on the company. Barrington Research reduced their price target on Asure Software from $15.00 to $12.00 and set an “outperform” rating on the stock in a research note on Monday, March 16th. Zacks Investment Research cut Asure Software from a “buy” rating to a “hold” rating in a research note on Monday, May 18th. Needham & Company LLC cut their target price on Asure Software from $11.00 to $8.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. ValuEngine raised Asure Software from a “sell” rating to a “hold” rating in a research note on Thursday, March 19th. Finally, Lake Street Capital cut their target price on Asure Software from $12.00 to $10.00 and set a “buy” rating on the stock in a research note on Friday, March 13th. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average target price of $9.46.

In other news, Director William Carl Drew bought 10,000 shares of the stock in a transaction on Wednesday, June 3rd. The shares were bought at an average price of $6.37 per share, with a total value of $63,700.00. Also, Director Red Oak Partners, Llc sold 18,555 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $7.47, for a total value of $138,605.85. The disclosure for this sale can be found here. Corporate insiders own 20.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. RBF Capital LLC bought a new position in Asure Software in the first quarter valued at about $61,000. Citigroup Inc. raised its stake in shares of Asure Software by 27.3% in the first quarter. Citigroup Inc. now owns 11,575 shares of the technology company’s stock worth $69,000 after buying an additional 2,479 shares during the period. Heritage Investors Management Corp bought a new position in shares of Asure Software in the first quarter worth about $76,000. Creative Planning bought a new position in shares of Asure Software in the first quarter worth about $81,000. Finally, M&T Bank Corp raised its stake in shares of Asure Software by 14.6% in the first quarter. M&T Bank Corp now owns 14,837 shares of the technology company’s stock worth $88,000 after buying an additional 1,894 shares during the period. 63.84% of the stock is currently owned by institutional investors.

ASUR stock traded down $0.41 during midday trading on Friday, hitting $6.35. The stock had a trading volume of 1,649,982 shares, compared to its average volume of 221,594. The firm has a market cap of $99.98 million, a price-to-earnings ratio of 3.16, a price-to-earnings-growth ratio of 2.72 and a beta of 1.18. The business has a 50-day moving average of $6.47 and a two-hundred day moving average of $7.19. Asure Software has a 52-week low of $4.30 and a 52-week high of $10.25. The company has a debt-to-equity ratio of 0.16, a current ratio of 1.11 and a quick ratio of 1.10.

Asure Software Company Profile

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.

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