Asure Software (ASUR) Announces Quarterly Earnings Results, Misses Estimates By $0.05 EPS

Asure Software (NASDAQ:ASUR) issued its quarterly earnings data on Thursday. The technology company reported $0.09 EPS for the quarter, missing the consensus estimate of $0.14 by ($0.05), Morningstar.com reports. The firm had revenue of $24.42 million for the quarter, compared to analysts’ expectations of $23.99 million. Asure Software had a negative net margin of 13.56% and a positive return on equity of 8.21%. Asure Software updated its FY 2019 guidance to EPS.

ASUR stock remained flat at $$6.27 during midday trading on Friday. 673,932 shares of the company’s stock were exchanged, compared to its average volume of 201,197. The company has a current ratio of 1.18, a quick ratio of 1.17 and a debt-to-equity ratio of 1.09. Asure Software has a fifty-two week low of $4.26 and a fifty-two week high of $19.78. The stock has a market cap of $94.03 million, a PE ratio of 13.93, a PEG ratio of 0.32 and a beta of 0.92.

Several equities analysts recently commented on the stock. Canaccord Genuity reaffirmed a “buy” rating and set a $13.00 price objective on shares of Asure Software in a research note on Friday. Zacks Investment Research cut shares of Asure Software from a “hold” rating to a “sell” rating in a research note on Tuesday, February 26th. Barrington Research set a $15.00 price objective on shares of Asure Software and gave the company a “buy” rating in a research note on Thursday, March 7th. TheStreet cut shares of Asure Software from a “c-” rating to a “d+” rating in a research note on Tuesday, December 11th. Finally, Roth Capital reduced their price objective on shares of Asure Software from $23.00 to $15.00 and set a “buy” rating for the company in a research note on Tuesday, January 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $13.38.

A number of hedge funds have recently added to or reduced their stakes in ASUR. Northern Trust Corp grew its stake in Asure Software by 260.9% in the 2nd quarter. Northern Trust Corp now owns 119,117 shares of the technology company’s stock worth $1,900,000 after buying an additional 86,108 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Asure Software by 1,895.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 40,030 shares of the technology company’s stock valued at $497,000 after purchasing an additional 38,024 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Asure Software by 31.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 34,436 shares of the technology company’s stock valued at $428,000 after purchasing an additional 8,222 shares in the last quarter. BlackRock Inc. boosted its stake in shares of Asure Software by 2.7% in the 3rd 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 in the last quarter. Finally, Suffolk Capital Management LLC boosted its stake in shares of Asure Software by 28.8% in the 3rd quarter. Suffolk Capital Management LLC now owns 63,014 shares of the technology company’s stock valued at $783,000 after purchasing an additional 14,093 shares in the last quarter. 58.34% of the stock is owned by institutional investors and hedge funds.

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Asure Software Company Profile

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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Earnings History for Asure Software (NASDAQ:ASUR)

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