Asure Software (NASDAQ:ASUR) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.

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 enable organizations to manage their office environment, as well as their human resource 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, pay stubs and W2 documentation, expense management, meeting and event management, and asset tracking. The company delivers easy-to-use, easy-to-deploy software products that serve small and medium-sized organizations and divisions of Fortune and Global 1000 enterprises. It focuses on developing products that deliver enterprise-class productivity enhancements at an affordable price such that any size organization can enjoy the benefits of its solutions. “

Several other equities research analysts have also recently issued reports on the company. Dougherty & Co initiated coverage on Asure Software in a report on Tuesday, October 31st. They set a “buy” rating and a $17.00 price objective on the stock. Cowen raised their price objective on Asure Software from $17.00 to $20.00 and gave the stock an “outperform” rating in a report on Tuesday, December 19th. Canaccord Genuity restated a “buy” rating and set a $18.00 price objective on shares of Asure Software in a report on Tuesday, October 17th. Craig Hallum initiated coverage on Asure Software in a report on Monday, December 4th. They set a “buy” rating on the stock. Finally, Northland Securities restated a “buy” rating and set a $18.00 price objective on shares of Asure Software in a report on Thursday, September 21st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. Asure Software has an average rating of “Buy” and an average target price of $17.63.

Shares of Asure Software (NASDAQ ASUR) traded down $0.24 during trading hours on Monday, reaching $14.62. The company’s stock had a trading volume of 156,200 shares, compared to its average volume of 147,750. Asure Software has a 52-week low of $9.47 and a 52-week high of $17.27. The company has a current ratio of 1.39, a quick ratio of 1.37 and a debt-to-equity ratio of 1.04. The firm has a market cap of $179.86, a PE ratio of -37.49, a PEG ratio of 0.76 and a beta of 1.21.

Institutional investors and hedge funds have recently modified their holdings of the stock. Prudential PLC purchased a new position in shares of Asure Software in the 2nd quarter worth $3,287,000. AWM Investment Company Inc. purchased a new position in shares of Asure Software in the 2nd quarter worth $2,595,000. Russell Investments Group Ltd. raised its position in shares of Asure Software by 2.8% in the 3rd quarter. Russell Investments Group Ltd. now owns 479,629 shares of the technology company’s stock worth $5,956,000 after buying an additional 13,279 shares during the period. Alyeska Investment Group L.P. raised its position in shares of Asure Software by 548.1% in the 3rd quarter. Alyeska Investment Group L.P. now owns 450,000 shares of the technology company’s stock worth $5,589,000 after buying an additional 380,570 shares during the period. Finally, Vanguard Group Inc. raised its position in shares of Asure Software by 24.0% in the 2nd quarter. Vanguard Group Inc. now owns 322,333 shares of the technology company’s stock worth $4,710,000 after buying an additional 62,418 shares during the period. 46.61% of the stock is currently owned by institutional investors and hedge funds.

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About Asure Software

Asure Software, Inc is a global provider of cloud-based software-as-a-service (SaaS) solutions that help companies to bring people, time, space and assets together. The Company serves approximately 6,000 clients in over 80 countries. The Company offers a range of solutions to help its clients optimize and manage mobile workforces and global workspaces.

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