American Software, Inc. (NASDAQ:AMSWA) announced a quarterly dividend on Wednesday, May 29th, Zacks reports. Investors of record on Friday, August 16th will be given a dividend of 0.11 per share by the software maker on Friday, August 30th. This represents a $0.44 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, August 15th.
American Software has increased its dividend by an average of 3.2% per year over the last three years. American Software has a dividend payout ratio of 176.0% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect American Software to earn $0.32 per share next year, which means the company may not be able to cover its $0.44 annual dividend with an expected future payout ratio of 137.5%.
NASDAQ:AMSWA traded up $0.02 during midday trading on Tuesday, hitting $13.64. 412 shares of the company traded hands, compared to its average volume of 58,163. The firm has a fifty day moving average price of $13.33. American Software has a 12-month low of $8.99 and a 12-month high of $18.94. The stock has a market cap of $422.98 million, a price-to-earnings ratio of 48.60 and a beta of 0.61.
Several research firms recently weighed in on AMSWA. BidaskClub lowered American Software from a “buy” rating to a “hold” rating in a report on Friday, June 28th. Zacks Investment Research lowered American Software from a “buy” rating to a “hold” rating in a report on Monday, July 15th. Finally, William Blair restated an “outperform” rating on shares of American Software in a report on Thursday, June 20th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $13.01.
In other news, insider Bryan L. Sell sold 4,000 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $13.05, for a total transaction of $52,200.00. Following the transaction, the insider now owns 4,000 shares of the company’s stock, valued at approximately $52,200. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director J Michael Edenfield sold 8,437 shares of the stock in a transaction on Friday, June 28th. The stock was sold at an average price of $13.16, for a total value of $111,030.92. Following the transaction, the director now directly owns 424,160 shares in the company, valued at approximately $5,581,945.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 26,310 shares of company stock worth $353,135. Insiders own 11.19% 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), 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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