Cadence Capital Management LLC Buys 81,511 Shares of American Software, Inc. (AMSWA)
Cadence Capital Management LLC raised its holdings in American Software, Inc. (NASDAQ:AMSWA) by 75.7% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 189,191 shares of the software maker’s stock after acquiring an additional 81,511 shares during the period. Cadence Capital Management LLC owned approximately 0.62% of American Software worth $2,757,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in AMSWA. Schwab Charles Investment Management Inc. boosted its stake in shares of American Software by 13.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 61,761 shares of the software maker’s stock worth $900,000 after acquiring an additional 7,300 shares during the period. Bailard Inc. boosted its stake in shares of American Software by 77.2% in the second quarter. Bailard Inc. now owns 42,000 shares of the software maker’s stock worth $612,000 after acquiring an additional 18,300 shares during the period. Russell Investments Group Ltd. lifted its position in shares of American Software by 276.1% in the second quarter. Russell Investments Group Ltd. now owns 35,318 shares of the software maker’s stock worth $515,000 after buying an additional 25,928 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of American Software by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 527,069 shares of the software maker’s stock worth $7,679,000 after buying an additional 10,179 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of American Software in the second quarter worth about $191,000. 81.08% of the stock is currently owned by hedge funds and other institutional investors.
In other American Software news, Director J Michael Edenfield sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $14.77, for a total transaction of $295,400.00. Following the sale, the director now directly owns 435,723 shares in the company, valued at $6,435,628.71. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Vincent C. Klinges sold 6,626 shares of the company’s stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $14.73, for a total value of $97,600.98. Following the sale, the chief financial officer now owns 103,464 shares in the company, valued at $1,524,024.72. The disclosure for this sale can be found here. Insiders sold 68,028 shares of company stock worth $1,023,139 over the last quarter. 11.24% of the stock is owned by company insiders.
American Software (NASDAQ:AMSWA) last posted its earnings results on Thursday, June 21st. The software maker reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The company had revenue of $29.36 million for the quarter, compared to the consensus estimate of $28.59 million. American Software had a return on equity of 10.02% and a net margin of 10.69%. analysts anticipate that American Software, Inc. will post 0.45 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 5th. Investors of record on Monday, November 19th will be given a $0.11 dividend. The ex-dividend date is Friday, November 16th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.50%. American Software’s dividend payout ratio is currently 122.22%.
AMSWA has been the topic of a number of research analyst reports. Zacks Investment Research downgraded American Software from a “buy” rating to a “hold” rating in a research report on Friday, June 29th. BidaskClub upgraded American Software from a “hold” rating to a “buy” rating in a research report on Saturday, August 11th. ValuEngine upgraded American Software from a “buy” rating to a “strong-buy” rating in a research report on Friday, July 6th. Finally, B. Riley boosted their target price on American Software from $14.50 to $18.00 and gave the stock a “buy” rating in a research report on Friday, June 22nd.
About American Software
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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