Cadence Capital Management LLC trimmed its position in American Software, Inc. (NASDAQ:AMSWA) by 25.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 209,429 shares of the software maker’s stock after selling 72,010 shares during the period. Cadence Capital Management LLC owned 0.67% of American Software worth $2,754,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of AMSWA. Martingale Asset Management L P increased its holdings in American Software by 200.4% during the 1st quarter. Martingale Asset Management L P now owns 175,415 shares of the software maker’s stock worth $2,097,000 after purchasing an additional 117,015 shares during the period. Wells Fargo & Company MN lifted its position in American Software by 42.5% during the 2nd quarter. Wells Fargo & Company MN now owns 295,164 shares of the software maker’s stock worth $3,882,000 after acquiring an additional 88,054 shares during the period. Victory Capital Management Inc. acquired a new stake in American Software during the 1st quarter worth about $909,000. Kayne Anderson Rudnick Investment Management LLC lifted its position in American Software by 2.9% during the 1st quarter. Kayne Anderson Rudnick Investment Management LLC now owns 2,625,468 shares of the software maker’s stock worth $31,374,000 after acquiring an additional 72,845 shares during the period. Finally, Crawford Investment Counsel Inc. lifted its holdings in shares of American Software by 19.3% in the 1st quarter. Crawford Investment Counsel Inc. now owns 408,346 shares of the software maker’s stock valued at $4,880,000 after buying an additional 65,964 shares during the period. 77.63% of the stock is currently owned by institutional investors.
AMSWA remained flat at $$15.20 during trading hours on Friday. The company had a trading volume of 2,251 shares, compared to its average volume of 78,962. American Software, Inc. has a 12-month low of $8.99 and a 12-month high of $16.06. The stock has a market cap of $474.71 million, a PE ratio of 54.29 and a beta of 0.56. The business has a fifty day moving average of $14.11 and a 200-day moving average of $13.13. The company has a current ratio of 2.60, a quick ratio of 2.61 and a debt-to-equity ratio of 0.02.
American Software (NASDAQ:AMSWA) last released its quarterly earnings data on Wednesday, August 28th. The software maker reported $0.05 EPS for the quarter, meeting analysts’ consensus estimates of $0.05. American Software had a return on equity of 7.57% and a net margin of 6.04%. The firm had revenue of $27.38 million for the quarter, compared to analysts’ expectations of $27.49 million. As a group, sell-side analysts anticipate that American Software, Inc. will post 0.24 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be issued a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a yield of 2.89%. The ex-dividend date is Thursday, November 21st. American Software’s dividend payout ratio is presently 157.14%.
In other American Software news, Director J Michael Edenfield sold 34,335 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $15.24, for a total transaction of $523,265.40. Following the transaction, the director now directly owns 450,058 shares in the company, valued at $6,858,883.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Bryan L. Sell sold 4,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $13.13, for a total value of $52,520.00. Following the transaction, the insider now owns 4,000 shares in the company, valued at $52,520. The disclosure for this sale can be found here. Insiders sold 84,499 shares of company stock worth $1,236,366 over the last quarter. 11.19% of the stock is currently owned by insiders.
AMSWA has been the subject of several recent analyst reports. B. Riley upgraded American Software from a “neutral” rating to a “buy” rating and lifted their price target for the company from $13.00 to $17.00 in a research note on Thursday, August 29th. ValuEngine upgraded American Software from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 26th. Zacks Investment Research lowered American Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. BidaskClub upgraded American Software from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, William Blair reiterated an “outperform” rating on shares of American Software in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. American Software has a consensus rating of “Buy” and an average target price of $14.68.
American Software 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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