Zacks Investment Research Lowers American Software, Inc. (AMSWA) to Sell

Zacks Investment Research cut shares of American Software, Inc. (NASDAQ:AMSWA) from a hold rating to a sell rating in a report released 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. “

Separately, B. Riley reiterated a buy rating and set a $12.25 price target on shares of American Software in a research report on Sunday, June 25th.

Shares of American Software (NASDAQ:AMSWA) opened at 10.01 on Tuesday. The company has a 50-day moving average of $10.88 and a 200 day moving average of $10.60. The company has a market capitalization of $295.63 million, a P/E ratio of 20.43 and a beta of 0.81. American Software has a 12 month low of $9.69 and a 12 month high of $12.10.

American Software (NASDAQ:AMSWA) last issued its quarterly earnings results on Friday, June 23rd. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.13. The business had revenue of $26.27 million for the quarter, compared to the consensus estimate of $27.72 million. American Software had a net margin of 13.76% and a return on equity of 15.45%. Analysts forecast that American Software will post $0.29 EPS for the current year.

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The firm also recently announced a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Friday, August 11th will be given a dividend of $0.11 per share. The ex-dividend date is Wednesday, August 9th. This represents a $0.44 dividend on an annualized basis and a yield of 4.40%. American Software’s payout ratio is presently 89.80%.

In other American Software news, insider James R. Mcguone sold 3,095 shares of the company’s stock in a transaction dated Wednesday, June 28th. The shares were sold at an average price of $10.67, for a total transaction of $33,023.65. Following the transaction, the insider now directly owns 3,095 shares in the company, valued at approximately $33,023.65. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director J Michael Edenfield sold 42,580 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $10.54, for a total transaction of $448,793.20. Following the transaction, the director now owns 458,333 shares in the company, valued at $4,830,829.82. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 47,680 shares of company stock worth $502,989. Corporate insiders own 14.39% of the company’s stock.

Hedge funds have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in shares of American Software during the first quarter worth approximately $696,000. Bank of America Corp DE boosted its stake in shares of American Software by 175.1% in the first quarter. Bank of America Corp DE now owns 20,426 shares of the software maker’s stock worth $210,000 after buying an additional 13,000 shares during the period. KCG Holdings Inc. bought a new stake in shares of American Software during the first quarter worth approximately $186,000. Renaissance Technologies LLC boosted its stake in shares of American Software by 2.4% in the first quarter. Renaissance Technologies LLC now owns 1,958,200 shares of the software maker’s stock worth $20,130,000 after buying an additional 45,900 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of American Software by 2.8% in the first quarter. Dimensional Fund Advisors LP now owns 887,195 shares of the software maker’s stock worth $9,121,000 after buying an additional 23,792 shares during the period. 75.07% of the stock is owned by institutional investors.

American Software Company Profile

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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