American Software, Inc. (NASDAQ:AMSWA – Get Rating) announced a quarterly dividend on Wednesday, May 25th, Zacks reports. Stockholders of record on Friday, August 12th will be given a dividend of 0.11 per share by the software maker on Friday, August 26th. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.55%. The ex-dividend date is Thursday, August 11th.
American Software has a dividend payout ratio of 110.0% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect American Software to earn $0.29 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 151.7%.
Shares of NASDAQ AMSWA traded up $0.31 during mid-day trading on Friday, reaching $17.23. The company had a trading volume of 293 shares, compared to its average volume of 93,969. The stock has a fifty day moving average of $18.43 and a two-hundred day moving average of $21.89. The company has a market capitalization of $578.20 million, a price-to-earnings ratio of 45.73 and a beta of 0.83. American Software has a 12-month low of $15.02 and a 12-month high of $33.26.
A number of hedge funds have recently modified their holdings of AMSWA. Vanguard Group Inc. lifted its position in American Software by 3.5% in the first quarter. Vanguard Group Inc. now owns 1,698,700 shares of the software maker’s stock worth $35,400,000 after purchasing an additional 58,070 shares during the period. Renaissance Technologies LLC lifted its position in American Software by 3.2% in the first quarter. Renaissance Technologies LLC now owns 1,661,203 shares of the software maker’s stock worth $34,619,000 after purchasing an additional 52,103 shares during the period. BlackRock Inc. lifted its position in American Software by 2.0% in the fourth quarter. BlackRock Inc. now owns 2,163,003 shares of the software maker’s stock worth $56,605,000 after purchasing an additional 42,045 shares during the period. Norges Bank bought a new position in shares of American Software during the fourth quarter valued at $902,000. Finally, Citadel Advisors LLC lifted its holdings in shares of American Software by 174.8% during the third quarter. Citadel Advisors LLC now owns 11,745 shares of the software maker’s stock valued at $279,000 after acquiring an additional 27,445 shares during the period. 82.09% of the stock is owned by hedge funds and other institutional investors.
Several brokerages have commented on AMSWA. Zacks Investment Research downgraded American Software from a “buy” rating to a “hold” rating in a report on Tuesday, April 26th. B. Riley lowered their price target on American Software from $24.50 to $23.00 in a report on Thursday, February 24th. Finally, StockNews.com upgraded American Software from a “buy” rating to a “strong-buy” rating in a report on Friday, March 25th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $30.25.
American Software Company Profile (Get Rating)
American Software, Inc develops, markets, and supports a range of computer business application software products in the United States and internationally. It operates through three segments: Supply Chain Management (SCM), Information Technology Consulting (IT Consulting), and Other. The SCM segment provides demand optimization, inventory optimization, supply optimization, retail optimization, quality and compliance, PLM, sourcing management, and integrated business planning services.
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