Eagle Asset Management Inc. reduced its stake in shares of American Software, Inc. (NASDAQ:AMSWA) by 4.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 710,179 shares of the software maker’s stock after selling 33,975 shares during the quarter. Eagle Asset Management Inc.’s holdings in American Software were worth $10,347,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in AMSWA. Russell Investments Group Ltd. lifted its holdings in shares of American Software by 126.5% during the 1st quarter. Russell Investments Group Ltd. now owns 9,390 shares of the software maker’s stock valued at $122,000 after purchasing an additional 5,244 shares in the last quarter. MetLife Investment Advisors LLC bought a new position in shares of American Software during the 4th quarter valued at about $148,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of American Software during the 2nd quarter valued at about $191,000. Guggenheim Capital LLC lifted its holdings in shares of American Software by 97.2% during the 4th quarter. Guggenheim Capital LLC now owns 57,994 shares of the software maker’s stock valued at $673,000 after purchasing an additional 28,578 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of American Software by 26.8% during the 4th quarter. Wells Fargo & Company MN now owns 58,089 shares of the software maker’s stock valued at $676,000 after purchasing an additional 12,289 shares in the last quarter. Institutional investors and hedge funds own 81.08% of the company’s stock.
In other American Software news, Director J Michael Edenfield sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, June 28th. The stock was sold at an average price of $14.77, for a total value of $295,400.00. Following the sale, the director now owns 435,723 shares in the company, valued at approximately $6,435,628.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Vincent C. Klinges sold 6,626 shares of the business’s stock in a transaction that occurred on Friday, June 29th. The shares were sold at an average price of $14.73, for a total value of $97,600.98. Following the completion of the sale, the chief financial officer now owns 103,464 shares in the company, valued at approximately $1,524,024.72. The disclosure for this sale can be found here. Insiders sold a total of 68,028 shares of company stock worth $1,023,139 in the last 90 days. Company insiders own 11.24% of the company’s stock.
AMSWA has been the topic of several recent analyst reports. BidaskClub cut American Software from a “buy” rating to a “hold” rating in a report on Tuesday, July 3rd. Zacks Investment Research cut American Software from a “buy” rating to a “hold” rating in a research note on Friday, June 29th. ValuEngine upgraded American Software from a “buy” rating to a “strong-buy” rating in a research note on Friday, July 6th. Finally, B. Riley boosted their target price on American Software from $14.50 to $18.00 and gave the company a “buy” rating in a research note on Friday, June 22nd.
NASDAQ AMSWA opened at $16.92 on Wednesday. The company has a market capitalization of $513.02 million, a price-to-earnings ratio of 47.43 and a beta of 0.74. American Software, Inc. has a 52 week low of $9.36 and a 52 week high of $16.96.
American Software (NASDAQ:AMSWA) last released its earnings results on Thursday, June 21st. The software maker reported $0.04 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.04. The firm had revenue of $29.36 million for the quarter, compared to analysts’ expectations of $28.59 million. American Software had a return on equity of 10.02% and a net margin of 10.69%. equities research analysts expect that American Software, Inc. will post 0.45 earnings per share for the current fiscal year.
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), Enterprise Resource Planning (ERP), and Information Technology (IT) Consulting. The SCM segment provides supply chain management 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.
Further Reading: Price to Earnings Ratio (PE), For Valuing Stocks
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