William Carl Drew Buys 25,000 Shares of Asure Software Inc (NASDAQ:ASUR) Stock

Key Points

• Asure Software Inc Director William Carl Drew bought 25,000 shares at $8.30 each, totaling $207,500, increasing his ownership to 103,165 shares.
• Recent analyst ratings have seen target prices reduced for Asure Software, with Needham & Company lowering theirs from $20.00 to $15.00 while maintaining a "buy" rating.
• Institutional investors own 71.58% of Asure Software, with notable purchases made by firms such as Deutsche Bank AG and Wells Fargo.

Asure Software Inc (NASDAQ:ASUR - Get Free Report) Director William Carl Drew purchased 25,000 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were purchased at an average price of $8.30 per share, for a total transaction of $207,500.00. Following the completion of the transaction, the director directly owned 103,165 shares of the company's stock, valued at $856,269.50. This represents a 31.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Asure Software Stock Down 0.6%

Shares of NASDAQ:ASUR traded down $0.05 on Friday, hitting $8.21. 122,360 shares of the company traded hands, compared to its average volume of 105,899. Asure Software Inc has a 52 week low of $7.51 and a 52 week high of $12.74. The stock has a 50 day simple moving average of $9.83 and a 200-day simple moving average of $10.11. The company has a market cap of $225.12 million, a PE ratio of -14.15, a PEG ratio of 0.99 and a beta of 0.41. The company has a quick ratio of 1.27, a current ratio of 1.27 and a debt-to-equity ratio of 0.33.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ASUR. American Century Companies Inc. lifted its position in Asure Software by 8.5% in the 4th quarter. American Century Companies Inc. now owns 39,313 shares of the technology company's stock valued at $370,000 after acquiring an additional 3,078 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Asure Software by 162.2% during the fourth quarter. JPMorgan Chase & Co. now owns 28,010 shares of the technology company's stock valued at $264,000 after purchasing an additional 17,329 shares in the last quarter. Wells Fargo & Company MN boosted its position in shares of Asure Software by 29.7% during the fourth quarter. Wells Fargo & Company MN now owns 15,199 shares of the technology company's stock valued at $143,000 after buying an additional 3,480 shares during the last quarter. Envestnet Asset Management Inc. purchased a new stake in shares of Asure Software during the fourth quarter valued at $239,000. Finally, Kennedy Capital Management LLC bought a new stake in Asure Software in the 4th quarter worth about $3,338,000. Institutional investors own 71.58% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. Barrington Research dropped their target price on shares of Asure Software from $17.00 to $15.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. Needham & Company LLC dropped their price objective on shares of Asure Software from $20.00 to $15.00 and set a "buy" rating on the stock in a research note on Friday, August 1st. Six investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has a consensus rating of "Buy" and a consensus price target of $13.60.

Asure Software Company Profile

Asure Software, Inc engages in the provision of cloud-based Human Capital Management (HCM) software solutions in the United States. It provides its human resources (HR) tool as Software-as-a-Service that helps various small and medium-sized businesses to build productive workforce to help them stay compliant and allocate resources to grow their business.