Asure Software Inc (NASDAQ:ASUR) shares dropped 8.2% during trading on Monday after the company announced weaker than expected quarterly earnings. The company traded as low as $7.50 and last traded at $7.12. Approximately 429,715 shares changed hands during trading, an increase of 92% from the average daily volume of 223,517 shares. The stock had previously closed at $7.75.

The technology company reported $0.12 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.02). The firm had revenue of $23.46 million for the quarter, compared to analyst estimates of $24.75 million. Asure Software had a positive return on equity of 8.85% and a negative net margin of 13.56%.

A number of research analysts have recently issued reports on the company. Needham & Company LLC dropped their target price on Asure Software from $20.00 to $12.00 and set a “buy” rating on the stock in a report on Monday. ValuEngine lowered Asure Software from a “sell” rating to a “strong sell” rating in a report on Saturday. Dougherty & Co assumed coverage on Asure Software in a report on Tuesday, August 28th. They issued a “buy” rating and a $20.00 target price on the stock. Craig Hallum dropped their target price on Asure Software from $21.00 to $11.00 and set a “buy” rating on the stock in a report on Monday. Finally, Barrington Research set a $25.00 target price on Asure Software and gave the company a “buy” rating in a report on Thursday, August 9th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $16.33.

Several large investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of Asure Software by 2.7% in the third quarter. BlackRock Inc. now owns 705,702 shares of the technology company’s stock valued at $8,765,000 after purchasing an additional 18,444 shares during the period. PenderFund Capital Management Ltd. increased its holdings in shares of Asure Software by 102.8% in the third quarter. PenderFund Capital Management Ltd. now owns 558,751 shares of the technology company’s stock valued at $7,798,000 after purchasing an additional 283,200 shares during the period. Skylands Capital LLC increased its holdings in shares of Asure Software by 17.2% in the third quarter. Skylands Capital LLC now owns 371,034 shares of the technology company’s stock valued at $4,608,000 after purchasing an additional 54,584 shares during the period. Unterberg Capital LLC acquired a new position in shares of Asure Software in the third quarter valued at approximately $4,223,000. Finally, Cortina Asset Management LLC increased its holdings in shares of Asure Software by 79.2% in the second quarter. Cortina Asset Management LLC now owns 317,959 shares of the technology company’s stock valued at $5,071,000 after purchasing an additional 140,498 shares during the period. 61.46% of the stock is currently owned by institutional investors and hedge funds.

The firm has a market cap of $116.23 million, a PE ratio of 13.91, a P/E/G ratio of 0.50 and a beta of 1.10. The company has a quick ratio of 1.52, a current ratio of 1.54 and a debt-to-equity ratio of 1.06.

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Asure Software Company Profile (NASDAQ:ASUR)

Asure Software Inc provides cloud-based software-as-a-service time and labor management, and workspace management solutions worldwide. The company's product line includes AsureSpace workplace management solutions that enable organizations to manage their office environments and optimize real estate utilization; and AsureForce time and labor management solutions to help organizations optimize workforce, as well as control labor administration costs and activities.

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