Asure Software (NASDAQ:ASUR) Updates Q3 2022 Earnings Guidance

Asure Software (NASDAQ:ASUR – Get Rating) issued an update on its third quarter 2022 earnings guidance on Monday morning. The company provided earnings per share guidance of -$0.05–$0.02 for the period. The company issued revenue guidance of $21.00 million-$21.50 million.Asure Software also updated its FY 2022 guidance to -$0.05-$0.02 EPS.

Asure Software stock traded up $0.03 during mid-day trading on Wednesday, reaching $5.97. The company’s stock had a trading volume of 31,692 shares, compared to its average volume of 35,636. Asure Software has a twelve month low of $5.50 and a twelve month high of $9.94. The firm has a market cap of $119.82 million, a price-to-earnings ratio of 54.28 and a beta of 0.96. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average price of $6.16 and a 200-day moving average price of $7.25.

Asure Software (NASDAQ:ASUR – Get Rating) last announced its quarterly earnings results on Monday, May 9th. The technology company reported $0.11 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.05. Asure Software had a net margin of 2.20% and a negative return on equity of 0.42%. The company had revenue of $24.33 million during the quarter, compared to the consensus estimate of $23.60 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. On average, equities analysts expect that Asure Software will post -0.1 EPS for the current fiscal year.

Several brokerages have recently issued reports on ASUR. TheStreet downgraded shares of Asure Software from a c- rating to a d+ rating in a report on Thursday, April 14th. StockNews.com began coverage on shares of Asure Software in a report on Friday, May 13th. They set a hold rating for the company. Finally, Zacks Investment Research raised shares of Asure Software from a hold rating to a buy rating and set a $6.75 price target for the company in a report on Tuesday. One research analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Buy and a consensus target price of $10.58.

Several hedge funds and other institutional investors have recently modified their holdings of ASUR. Vanguard Group Inc. boosted its holdings in Asure Software by 48.0% during the first quarter. Vanguard Group Inc. now owns 1,762,073 shares of the technology company’s stock worth $10,484,000 after buying an additional 571,201 shares in the last quarter. S Squared Technology LLC lifted its position in Asure Software by 3.2% in the 1st quarter. S Squared Technology LLC now owns 839,409 shares of the technology company’s stock worth $4,994,000 after buying an additional 25,671 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in Asure Software by 7.7% in the 1st quarter. Dimensional Fund Advisors LP now owns 382,459 shares of the technology company’s stock worth $2,276,000 after buying an additional 27,419 shares in the last quarter. BlackRock Inc. lifted its position in Asure Software by 1.6% in the 4th quarter. BlackRock Inc. now owns 243,820 shares of the technology company’s stock worth $1,908,000 after buying an additional 3,891 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in Asure Software by 2.4% in the 4th quarter. Geode Capital Management LLC now owns 139,935 shares of the technology company’s stock worth $1,095,000 after buying an additional 3,268 shares in the last quarter. Institutional investors and hedge funds own 64.47% of the company’s stock.

Asure Software Company Profile (Get Rating)

Asure Software, Inc provides cloud-based human capital management solutions the United States. It helps various small and mid-sized businesses to build productive teams to help them stay compliant and allocate resources to grow their business. The company's solutions include Asure Payroll & Tax, an integrated cloud-based solution automates regulations associated with payroll and taxes, including wages, benefits, overtime, garnishments, tips, direct deposits, and fair labor standard act, as well as federal, state, and local payroll taxes; Asure (human resource) HR, a cloud-based functionality that handles HR complexities, such as employee self-service that enable employees to access information, pay history, and company documents; and Asure Time & Attendance that provides cost savings and return on investment gains come in the form of strategic use of labor dollars and the elimination of time theft.

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