Asure Software (NASDAQ:ASUR) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Wall Street Zen downgraded Asure Software from “Buy” to “Hold,” while the broader analyst consensus remains “Moderate Buy” with a $15.00 price target.
• Asure shares opened at $9.07, with a market capitalization of approximately $261.9 million and a 12-month trading range of $6.80 to $10.20.
• Institutional investors own 71.58% of the company, while director Bjorn Reynolds recently sold 15,420 shares at an average price of $8.35.

Asure Software (NASDAQ:ASUR - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Sunday.

Several other research firms have also recently weighed in on ASUR. Weiss Ratings raised shares of Asure Software from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, July 2nd. TD Cowen raised shares of Asure Software to a "strong-buy" rating in a report on Monday, May 18th. Finally, Zacks Research cut shares of Asure Software from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $15.00.

Asure Software Stock Performance

Asure Software stock opened at $9.07 on Friday. The stock has a market capitalization of $261.94 million, a price-to-earnings ratio of -31.27, a P/E/G ratio of 1.08 and a beta of 0.49. Asure Software has a 12-month low of $6.80 and a 12-month high of $10.20. The company has a quick ratio of 1.05, a current ratio of 1.06 and a debt-to-equity ratio of 0.31. The stock has a 50-day simple moving average of $8.25 and a 200 day simple moving average of $8.49.

Insider Buying and Selling

In other Asure Software news, Director Bjorn Reynolds sold 15,420 shares of the business's stock in a transaction dated Tuesday, August 11th. The stock was sold at an average price of $8.35, for a total transaction of $128,757.00. Following the completion of the transaction, the director owned 31,162 shares of the company's stock, valued at approximately $260,202.70. The trade was a 33.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.90% of the company's stock.

Institutional Investors Weigh In On Asure Software

Several hedge funds and other institutional investors have recently made changes to their positions in ASUR. Bank of America Corp DE acquired a new position in shares of Asure Software in the second quarter valued at approximately $348,000. Jupiter Topco LLC acquired a new stake in Asure Software during the 2nd quarter worth approximately $14,537,000. Ancora Advisors LLC bought a new stake in Asure Software during the 2nd quarter worth approximately $79,000. S Squared Technology LLC bought a new stake in Asure Software during the 2nd quarter worth approximately $3,170,918. Finally, CM Wealth Advisors LLC bought a new stake in Asure Software during the 2nd quarter worth approximately $233,000. 71.58% of the stock is owned by institutional investors.

Asure Software Company Profile

Asure Software, Inc NASDAQ: ASUR is a Texas‐based technology company specializing in cloud‐based workforce and workspace management solutions. The company develops software that streamlines human capital management (HCM), payroll processing, time and attendance tracking, and workspace reservation for businesses seeking to optimize employee experience and operational efficiency.

The Asure platform includes modules for payroll administration, benefits enrollment, performance management, applicant tracking and onboarding, as well as mobile and web‐based timekeeping.

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