BlackRock Inc. Makes New $13.11 Million Investment in Asure Software Inc $ASUR

Key Points

• BlackRock acquired 1.65 million shares of Asure Software in the second quarter, investing approximately $13.11 million for a 5.72% stake.
• Institutional investors own 71.58% of ASUR, while company director Bjorn Reynolds sold 15,420 shares, reducing his holdings by 33.1%.
• Analyst sentiment is mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $13.00, compared with the stock’s recent price of $9.28.

BlackRock Inc. bought a new stake in Asure Software Inc (NASDAQ:ASUR - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,651,498 shares of the technology company's stock, valued at approximately $13,113,000. BlackRock Inc. owned approximately 5.72% of Asure Software at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ASUR. BNP Paribas Financial Markets raised its holdings in Asure Software by 107.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,986 shares of the technology company's stock valued at $41,000 after acquiring an additional 2,586 shares during the period. Tower Research Capital LLC TRC grew its position in shares of Asure Software by 446.8% in the second quarter. Tower Research Capital LLC TRC now owns 6,671 shares of the technology company's stock valued at $65,000 after purchasing an additional 5,451 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new position in shares of Asure Software in the fourth quarter valued at approximately $66,000. Boston Partners bought a new position in shares of Asure Software during the fourth quarter worth approximately $108,000. Finally, Invesco Ltd. bought a new stake in Asure Software in the 2nd quarter valued at $112,000. 71.58% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Bjorn Reynolds sold 15,420 shares of the stock in a transaction dated Tuesday, August 11th. The shares were 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 in the company, valued at approximately $260,202.70. This represents a 33.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 8.90% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on ASUR shares. Weiss Ratings upgraded Asure Software from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, July 2nd. Stephens started coverage on Asure Software in a research report on Friday. They set an "overweight" rating and a $11.00 target price for the company. TD Cowen raised Asure Software to a "strong-buy" rating in a report on Monday, May 18th. Wall Street Zen downgraded shares of Asure Software from a "buy" rating to a "hold" rating in a research note on Sunday, August 30th. Finally, Zacks Research cut Asure Software from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 20th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.00.

Asure Software Stock Up 1.4%

Asure Software stock opened at $9.28 on Friday. Asure Software Inc has a fifty-two week low of $6.80 and a fifty-two week high of $10.20. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.05 and a current ratio of 1.06. The firm's 50-day simple moving average is $8.39 and its 200 day simple moving average is $8.53. The stock has a market cap of $268.01 million, a PE ratio of -32.00, a price-to-earnings-growth ratio of 1.09 and a beta of 0.52.

Asure Software 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source