American Software (NASDAQ:AMSWA) Lifted to “Buy” at Sidoti

American Software (NASDAQ:AMSWA) was upgraded by equities researchers at Sidoti from a “neutral” rating to a “buy” rating in a report issued on Wednesday, Analyst Price Targets reports. The brokerage currently has a $26.00 target price on the software maker’s stock. Sidoti’s target price indicates a potential downside of 1.78% from the stock’s previous close.

A number of other analysts also recently issued reports on the company. Zacks Investment Research raised American Software from a “sell” rating to a “hold” rating in a research report on Tuesday, March 2nd. B. Riley lifted their target price on American Software from $23.00 to $25.00 and gave the company a “buy” rating in a research report on Wednesday.

NASDAQ:AMSWA opened at $26.47 on Wednesday. The firm has a 50-day moving average of $20.44. The firm has a market capitalization of $865.78 million, a P/E ratio of 155.71 and a beta of 0.50. American Software has a 52-week low of $13.25 and a 52-week high of $28.45.

American Software (NASDAQ:AMSWA) last released its earnings results on Monday, June 7th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.06. American Software had a return on equity of 5.41% and a net margin of 4.98%. As a group, equities analysts anticipate that American Software will post 0.2 EPS for the current fiscal year.

In other news, Director Matthew G. Mckenna sold 9,000 shares of the business’s stock in a transaction that occurred on Thursday, March 25th. The stock was sold at an average price of $20.40, for a total transaction of $183,600.00. Following the completion of the sale, the director now owns 8,000 shares in the company, valued at $163,200. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Vincent C. Klinges sold 3,647 shares of the business’s stock in a transaction that occurred on Thursday, March 25th. The stock was sold at an average price of $20.60, for a total value of $75,128.20. Following the sale, the chief financial officer now owns 100,485 shares of the company’s stock, valued at approximately $2,069,991. The disclosure for this sale can be found here. 9.11% of the stock is owned by insiders.

Several large investors have recently modified their holdings of the company. Artisan Partners Limited Partnership boosted its stake in shares of American Software by 415.1% in the first quarter. Artisan Partners Limited Partnership now owns 938,095 shares of the software maker’s stock valued at $19,419,000 after buying an additional 755,973 shares during the period. Neuberger Berman Group LLC boosted its stake in shares of American Software by 41.4% in the first quarter. Neuberger Berman Group LLC now owns 2,374,326 shares of the software maker’s stock valued at $49,149,000 after buying an additional 695,475 shares during the period. Kayne Anderson Rudnick Investment Management LLC boosted its stake in shares of American Software by 7.0% in the first quarter. Kayne Anderson Rudnick Investment Management LLC now owns 3,002,102 shares of the software maker’s stock valued at $62,144,000 after buying an additional 196,264 shares during the period. Victory Capital Management Inc. boosted its stake in shares of American Software by 341.8% in the first quarter. Victory Capital Management Inc. now owns 234,163 shares of the software maker’s stock valued at $4,848,000 after buying an additional 181,163 shares during the period. Finally, GW&K Investment Management LLC boosted its stake in shares of American Software by 1,397.7% in the fourth quarter. GW&K Investment Management LLC now owns 165,396 shares of the software maker’s stock valued at $2,840,000 after buying an additional 154,353 shares during the period. Institutional investors own 83.19% of the company’s stock.

About American Software

American Software, Inc develops, markets, and supports a range of computer business application software products and services in the United States and internationally. It operates in three segments: Supply Chain Management (SCM), Information Technology Consulting (IT Consulting), and Other. The SCM segment offers supply chain optimization and retail planning solutions, including sales and operations planning, demand optimization, inventory optimization, manufacturing planning and scheduling, supply optimization, retail allocation and merchandise planning, and transportation optimization to streamline and optimize the forecasting, inventory, production, supply, allocation, distribution, and management of products between trading partners.

Further Reading: History of the Euro STOXX 50 Index

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