American Software (NASDAQ:AMSWA) Lifted to Strong-Buy at StockNews.com

American Software (NASDAQ:AMSWA) was upgraded by StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Monday.

Several other brokerages also recently issued reports on AMSWA. B. Riley cut their target price on shares of American Software from $16.00 to $14.00 and set a “buy” rating on the stock in a research note on Friday, June 7th. Maxim Group boosted their target price on shares of American Software from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 23rd.

American Software Trading Up 1.1 %

NASDAQ:AMSWA traded up $0.12 during trading hours on Monday, hitting $11.19. 109,430 shares of the stock traded hands, compared to its average volume of 220,795. The firm has a 50 day moving average price of $10.68 and a 200 day moving average price of $10.38. American Software has a fifty-two week low of $8.41 and a fifty-two week high of $12.27. The firm has a market cap of $372.41 million, a price-to-earnings ratio of 32.91 and a beta of 0.76.

American Software (NASDAQ:AMSWA) last announced its earnings results on Thursday, August 22nd. The software maker reported $0.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.01. American Software had a net margin of 10.39% and a return on equity of 8.98%. The company had revenue of $26.19 million for the quarter, compared to the consensus estimate of $24.89 million. During the same period in the previous year, the business earned $0.08 EPS. Research analysts predict that American Software will post 0.19 EPS for the current year.

Hedge Funds Weigh In On American Software

A number of hedge funds have recently modified their holdings of AMSWA. Vanguard Group Inc. boosted its holdings in American Software by 2.2% in the first quarter. Vanguard Group Inc. now owns 2,429,019 shares of the software maker’s stock worth $27,812,000 after purchasing an additional 53,284 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in American Software by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,155,078 shares of the software maker’s stock worth $10,546,000 after purchasing an additional 33,089 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in American Software by 4.8% in the first quarter. Russell Investments Group Ltd. now owns 1,112,875 shares of the software maker’s stock worth $12,742,000 after purchasing an additional 50,894 shares in the last quarter. Herald Investment Management Ltd boosted its holdings in American Software by 7.1% in the second quarter. Herald Investment Management Ltd now owns 750,000 shares of the software maker’s stock worth $6,862,000 after purchasing an additional 50,000 shares in the last quarter. Finally, Eagle Asset Management Inc. boosted its holdings in American Software by 44.6% in the fourth quarter. Eagle Asset Management Inc. now owns 480,697 shares of the software maker’s stock worth $5,432,000 after purchasing an additional 148,368 shares in the last quarter. 76.98% of the stock is owned by institutional investors and hedge funds.

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.