Granite Investment Partners LLC Has $1.07 Million Position in American Software, Inc. (NASDAQ:AMSWA)
Granite Investment Partners LLC lifted its holdings in American Software, Inc. (NASDAQ:AMSWA) by 86.9% in the first quarter, Holdings Channel reports. The fund owned 89,059 shares of the software maker’s stock after purchasing an additional 41,399 shares during the quarter. Granite Investment Partners LLC’s holdings in American Software were worth $1,065,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in AMSWA. BNP Paribas Arbitrage SA lifted its stake in American Software by 2,671.3% in the first quarter. BNP Paribas Arbitrage SA now owns 5,986 shares of the software maker’s stock worth $72,000 after purchasing an additional 5,770 shares during the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in American Software by 413.8% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,280 shares of the software maker’s stock worth $97,000 after purchasing an additional 7,474 shares during the last quarter. Millennium Management LLC bought a new stake in American Software in the fourth quarter worth about $117,000. The Manufacturers Life Insurance Company bought a new stake in American Software in the first quarter worth about $134,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in American Software by 42.3% in the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 23,440 shares of the software maker’s stock worth $280,000 after purchasing an additional 6,973 shares during the last quarter. 79.29% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have recently commented on AMSWA shares. BidaskClub raised shares of American Software from a “hold” rating to a “buy” rating in a research report on Saturday, February 23rd. ValuEngine lowered shares of American Software from a “buy” rating to a “hold” rating in a research report on Saturday, February 23rd. William Blair started coverage on shares of American Software in a research report on Wednesday, April 3rd. They set an “outperform” rating and a $12.03 target price on the stock. Finally, Zacks Investment Research lowered shares of American Software from a “buy” rating to a “hold” rating in a research report on Monday, February 18th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $12.34.
The business also recently announced a quarterly dividend, which will be paid on Friday, August 30th. Stockholders of record on Friday, August 16th will be given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date is Thursday, August 15th. American Software’s dividend payout ratio (DPR) is presently 122.22%.
In other news, Director Dennis Hogue sold 24,850 shares of the firm’s stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $11.52, for a total transaction of $286,272.00. Following the transaction, the director now directly owns 3,274 shares of the company’s stock, valued at $37,716.48. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vincent C. Klinges sold 19,072 shares of the firm’s stock in a transaction that occurred on Thursday, March 28th. The stock was sold at an average price of $11.76, for a total transaction of $224,286.72. Following the transaction, the chief financial officer now directly owns 115,910 shares in the company, valued at $1,363,101.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,712 shares of company stock worth $1,115,862. Corporate insiders own 11.24% of the company’s stock.
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American Software Company Profile
American Software, Inc develops, markets, and supports a portfolio of software and services worldwide. It operates in three segments: Supply Chain Management (SCM), Information Technology (IT) Consulting, and Other. The SCM segment provides supply chain management and retail planning solutions, including sales and operations planning, demand and inventory optimization, manufacturing planning and scheduling, supply optimization, retail allocation and merchandise planning, and transportation optimization solutions to streamline and optimize the forecasting, inventory, production scheduling, production, supply, allocation, distribution, and management of products between trading partners.
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