American Software (AMSWA) Upgraded to “Buy” at BidaskClub
BidaskClub upgraded shares of American Software (NASDAQ:AMSWA) from a hold rating to a buy rating in a research note issued to investors on Saturday morning.
A number of other analysts have also weighed in on AMSWA. Zacks Investment Research lowered shares of American Software from a buy rating to a hold rating in a research note on Wednesday, April 25th. B. Riley upped their price objective on shares of American Software from $14.50 to $18.00 and gave the stock a buy rating in a research note on Friday, June 22nd. Finally, ValuEngine raised shares of American Software from a buy rating to a strong-buy rating in a research report on Friday, July 6th.
Shares of AMSWA traded up $0.06 during trading hours on Friday, reaching $15.95. 69,566 shares of the company traded hands, compared to its average volume of 68,559. The firm has a market capitalization of $491.08 million, a P/E ratio of 44.31 and a beta of 0.74. American Software has a 12-month low of $9.00 and a 12-month high of $16.45.
The company also recently declared a quarterly dividend, which will be paid on Friday, August 31st. Shareholders of record on Friday, August 17th will be given a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a dividend yield of 2.76%. The ex-dividend date of this dividend is Thursday, August 16th. American Software’s payout ratio is 122.22%.
In other news, Director J Michael Edenfield sold 41,402 shares of the company’s stock in a transaction dated Tuesday, June 26th. The shares were sold at an average price of $15.22, for a total transaction of $630,138.44. Following the transaction, the director now owns 457,125 shares in the company, valued at $6,957,442.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Vincent C. Klinges sold 6,626 shares of the company’s stock in a transaction dated Friday, June 29th. The shares were sold at an average price of $14.73, for a total transaction of $97,600.98. Following the transaction, the chief financial officer now owns 103,464 shares in the company, valued at approximately $1,524,024.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 68,028 shares of company stock valued at $1,023,139. Insiders own 11.24% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of AMSWA. Russell Investments Group Ltd. grew its stake in shares of American Software by 126.5% during the 1st quarter. Russell Investments Group Ltd. now owns 9,390 shares of the software maker’s stock worth $122,000 after purchasing an additional 5,244 shares during the period. MetLife Investment Advisors LLC acquired a new stake in shares of American Software during the 4th quarter worth approximately $148,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of American Software during the 2nd quarter worth approximately $191,000. Citadel Advisors LLC acquired a new stake in shares of American Software during the 2nd quarter worth approximately $437,000. Finally, Bailard Inc. grew its stake in shares of American Software by 77.2% during the 2nd quarter. Bailard Inc. now owns 42,000 shares of the software maker’s stock worth $612,000 after purchasing an additional 18,300 shares during the period. Hedge funds and other institutional investors own 75.67% of the company’s stock.
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), Enterprise Resource Planning (ERP), and Information Technology (IT) Consulting. The SCM segment provides supply chain management 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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