American Software (NASDAQ:AMSWA) Price Target Cut to $16.00

American Software (NASDAQ:AMSWA) had its target price lowered by B. Riley from $17.00 to $16.00 in a report published on Friday morning, Benzinga reports. B. Riley currently has a buy rating on the software maker’s stock. B. Riley also issued estimates for American Software’s Q2 2024 earnings at $0.04 EPS, Q3 2024 earnings at $0.05 EPS, Q4 2024 earnings at $0.06 EPS, FY2024 earnings at $0.22 EPS and FY2025 earnings at $0.25 EPS.

Separately, StockNews.com assumed coverage on American Software in a research report on Thursday, October 5th. They issued a buy rating for the company.

American Software Stock Performance

American Software stock opened at $9.63 on Friday. American Software has a one year low of $9.38 and a one year high of $15.88. The business has a fifty day moving average of $11.16 and a two-hundred day moving average of $11.30. The company has a market cap of $329.02 million, a P/E ratio of 31.25 and a beta of 0.71.

American Software (NASDAQ:AMSWA) last released its earnings results on Thursday, August 24th. The software maker reported $0.08 EPS for the quarter, beating analysts’ consensus estimates of $0.05 by $0.03. American Software had a return on equity of 8.62% and a net margin of 9.08%. The company had revenue of $29.17 million during the quarter, compared to the consensus estimate of $29.07 million. During the same quarter last year, the company earned $0.06 earnings per share. Sell-side analysts predict that American Software will post 0.22 EPS for the current year.

American Software Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 17th will be paid a $0.11 dividend. This represents a $0.44 annualized dividend and a dividend yield of 4.57%. The ex-dividend date of this dividend is Thursday, November 16th. American Software’s dividend payout ratio is currently 137.50%.

Hedge Funds Weigh In On American Software

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Jacobs Levy Equity Management Inc. lifted its position in American Software by 247.2% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 274,069 shares of the software maker’s stock worth $3,141,000 after acquiring an additional 195,135 shares in the last quarter. Tudor Investment Corp Et Al acquired a new position in American Software during the 3rd quarter worth approximately $208,000. Royal Bank of Canada lifted its position in American Software by 123.9% during the 3rd quarter. Royal Bank of Canada now owns 70,878 shares of the software maker’s stock worth $813,000 after acquiring an additional 39,227 shares in the last quarter. AQR Capital Management LLC lifted its position in American Software by 54.6% during the 3rd quarter. AQR Capital Management LLC now owns 161,950 shares of the software maker’s stock worth $1,856,000 after acquiring an additional 57,202 shares in the last quarter. Finally, Trexquant Investment LP lifted its position in American Software by 406.0% during the 3rd quarter. Trexquant Investment LP now owns 58,973 shares of the software maker’s stock worth $676,000 after acquiring an additional 47,319 shares in the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.

About American Software

American Software, Inc develops, markets, and supports a range of computer business application software products in the United States and internationally. It operates through Supply Chain Management (SCM), Information Technology Consulting (IT Consulting), and Other segments. The SCM segment leverages a single platform spanning eight supply chain process areas including product, demand, inventory, network optimization supply, deploy aligned with integrated business planning and supply chain data management.