Renaissance Technologies LLC Cuts Stock Position in American Software, Inc. (NASDAQ:AMSWA)

Renaissance Technologies LLC trimmed its position in shares of American Software, Inc. (NASDAQ:AMSWA) by 6.9% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,429,800 shares of the software maker’s stock after selling 105,800 shares during the quarter. Renaissance Technologies LLC owned about 4.30% of American Software worth $13,054,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP lifted its holdings in shares of American Software by 2.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,155,078 shares of the software maker’s stock valued at $10,546,000 after purchasing an additional 33,089 shares during the last quarter. Herald Investment Management Ltd increased its position in American Software by 7.1% during the 2nd quarter. Herald Investment Management Ltd now owns 750,000 shares of the software maker’s stock valued at $6,862,000 after buying an additional 50,000 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in American Software by 720.0% in the second quarter. Meeder Asset Management Inc. now owns 6,568 shares of the software maker’s stock worth $60,000 after acquiring an additional 5,767 shares in the last quarter. Quest Partners LLC grew its stake in shares of American Software by 113,625.0% during the second quarter. Quest Partners LLC now owns 45,490 shares of the software maker’s stock worth $415,000 after acquiring an additional 45,450 shares during the last quarter. Finally, Isthmus Partners LLC increased its holdings in shares of American Software by 11.3% during the second quarter. Isthmus Partners LLC now owns 307,832 shares of the software maker’s stock valued at $28,000 after acquiring an additional 31,216 shares in the last quarter. 76.98% of the stock is currently owned by institutional investors.

American Software Stock Performance

Shares of AMSWA stock opened at $10.94 on Monday. American Software, Inc. has a fifty-two week low of $8.41 and a fifty-two week high of $12.27. The firm has a market capitalization of $364.09 million, a PE ratio of 32.18 and a beta of 0.76. The stock’s 50-day simple moving average is $10.55 and its 200-day simple moving average is $10.38.

American Software (NASDAQ:AMSWA) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $0.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The company had revenue of $26.19 million during the quarter, compared to analyst estimates of $24.89 million. American Software had a net margin of 10.39% and a return on equity of 8.98%. During the same period last year, the firm posted $0.08 EPS. Sell-side analysts forecast that American Software, Inc. will post 0.19 earnings per share for the current year.

American Software Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be issued a $0.11 dividend. This represents a $0.44 annualized dividend and a yield of 4.02%. The ex-dividend date is Friday, November 15th. American Software’s payout ratio is 129.41%.

Insiders Place Their Bets

In related news, Director James B. Miller, Jr. purchased 3,718 shares of American Software stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average cost of $9.15 per share, for a total transaction of $34,019.70. Following the completion of the transaction, the director now owns 719 shares in the company, valued at $6,578.85. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Matthew G. Mckenna bought 5,000 shares of the stock in a transaction dated Wednesday, June 26th. The shares were acquired at an average cost of $8.53 per share, with a total value of $42,650.00. Following the purchase, the director now directly owns 37,350 shares in the company, valued at approximately $318,595.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director James B. Miller, Jr. purchased 3,718 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The stock was acquired at an average price of $9.15 per share, with a total value of $34,019.70. Following the purchase, the director now owns 719 shares in the company, valued at $6,578.85. The disclosure for this purchase can be found here. 11.37% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on AMSWA. B. Riley lowered their target price on shares of American Software from $16.00 to $14.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Maxim Group lifted their price objective on shares of American Software from $16.00 to $17.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd.

About American Software

American Software, Inc develops, markets, and supports a range of computer business application software products in the United States and internationally. It operates through two segments, Supply Chain Management (SCM) and Other. The SCM segment leverages a single platform spanning eight supply chain process areas including product, demand, inventory, supply, network optimization, order response, supplier management, and scenario planning.