Zacks Investment Research cut shares of American Software, Inc. (NASDAQ:AMSWA) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

According to Zacks, “American Software Inc., through its subsidiaries, develops, markets and supports a portfolio of application software solutions that enable businesses to respond to today’s dynamic global marketplace. The company’s software and services solutions are designed to automate many planning and operational functions principally in the areas of: (i) Enterprise Resource Planning (ERP), (ii) Flow Manufacturing, (iii) E-Commerce Solutions and (iv) Logility Value Chain Solutions(TM). The company’s products are designed to provide rapid return on investment. “

Several other analysts also recently commented on the company. B. Riley reaffirmed a buy rating and set a $12.25 price objective on shares of American Software in a research note on Sunday, September 3rd. BidaskClub downgraded American Software from a sell rating to a strong sell rating in a research note on Thursday, July 27th.

American Software (AMSWA) traded up $0.02 during midday trading on Tuesday, reaching $12.32. The company’s stock had a trading volume of 56,046 shares, compared to its average volume of 52,574. The company has a market cap of $369.80 million, a price-to-earnings ratio of 23.92 and a beta of 0.81.

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The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 4th. Shareholders of record on Friday, November 10th will be paid a dividend of $0.11 per share. This represents a $0.44 annualized dividend and a yield of 3.57%. The ex-dividend date of this dividend is Thursday, November 9th. American Software’s dividend payout ratio is presently 84.62%.

In other American Software news, Director J Michael Edenfield sold 33,985 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $11.02, for a total transaction of $374,514.70. Following the transaction, the director now owns 33,985 shares in the company, valued at approximately $374,514.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dennis Hogue sold 9,707 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $10.78, for a total value of $104,641.46. Following the transaction, the director now owns 15,000 shares in the company, valued at approximately $161,700. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 230,861 shares of company stock valued at $2,550,422. 13.89% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMSWA. Bank of New York Mellon Corp increased its position in American Software by 9.0% during the 1st quarter. Bank of New York Mellon Corp now owns 508,010 shares of the software maker’s stock worth $5,221,000 after purchasing an additional 42,072 shares during the period. Parametric Portfolio Associates LLC increased its position in American Software by 5.5% during the 1st quarter. Parametric Portfolio Associates LLC now owns 39,545 shares of the software maker’s stock worth $407,000 after purchasing an additional 2,078 shares during the period. Prudential Financial Inc. increased its position in American Software by 9.6% during the 1st quarter. Prudential Financial Inc. now owns 17,111 shares of the software maker’s stock worth $176,000 after purchasing an additional 1,500 shares during the period. SG Americas Securities LLC acquired a new position in American Software during the 1st quarter worth approximately $189,000. Finally, American International Group Inc. increased its position in American Software by 6.9% during the 1st quarter. American International Group Inc. now owns 15,859 shares of the software maker’s stock worth $163,000 after purchasing an additional 1,027 shares during the period. Institutional investors own 75.46% of the company’s stock.

About American Software

American Software, Inc (American Software) develops, markets and supports a portfolio of software and services that delivers enterprise management, supply chain and retail planning solutions to the marketplace. The Company operates through three business segments: Supply Chain Management (SCM), Enterprise Resource Planning (ERP) and Information Technology (IT) Consulting.

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