American Software, Inc. (NASDAQ:AMSWA) – Equities researchers at B. Riley raised their Q3 2022 earnings estimates for shares of American Software in a report issued on Wednesday, June 9th. B. Riley analyst Z. Cummins now forecasts that the software maker will post earnings per share of $0.04 for the quarter, up from their previous forecast of $0.03. B. Riley has a “Buy” rating and a $25.00 price target on the stock. B. Riley also issued estimates for American Software’s Q4 2022 earnings at $0.07 EPS.
A number of other analysts have also recently issued reports on the stock. Sidoti upgraded shares of American Software from a “neutral” rating to a “buy” rating and set a $26.00 target price for the company in a research note on Wednesday. Zacks Investment Research upgraded shares of American Software from a “sell” rating to a “hold” rating in a research note on Tuesday, March 2nd.
American Software (NASDAQ:AMSWA) last posted its earnings results on Monday, June 7th. The software maker reported $0.11 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.05 by $0.06. American Software had a net margin of 4.98% and a return on equity of 5.41%.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 27th. Stockholders of record on Friday, August 13th will be paid a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Thursday, August 12th. American Software’s payout ratio is 169.23%.
In related news, CFO Vincent C. Klinges sold 3,647 shares of the business’s stock in a transaction on Thursday, March 25th. The shares were sold at an average price of $20.60, for a total transaction of $75,128.20. Following the transaction, the chief financial officer now owns 100,485 shares of the company’s stock, valued at $2,069,991. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Matthew G. Mckenna sold 9,000 shares of the business’s stock in a transaction 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 transaction, the director now directly owns 8,000 shares in the company, valued at approximately $163,200. The disclosure for this sale can be found here. 9.11% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in the stock. The Manufacturers Life Insurance Company increased its holdings in American Software by 3.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 18,785 shares of the software maker’s stock valued at $323,000 after buying an additional 540 shares during the period. Parallax Volatility Advisers L.P. increased its holdings in American Software by 3.0% in the 1st quarter. Parallax Volatility Advisers L.P. now owns 22,256 shares of the software maker’s stock valued at $461,000 after buying an additional 656 shares during the period. California State Teachers Retirement System increased its holdings in American Software by 1.7% in the 1st quarter. California State Teachers Retirement System now owns 45,818 shares of the software maker’s stock valued at $948,000 after buying an additional 750 shares during the period. Bank of New York Mellon Corp increased its holdings in American Software by 0.3% in the 1st quarter. Bank of New York Mellon Corp now owns 269,306 shares of the software maker’s stock valued at $5,574,000 after buying an additional 853 shares during the period. Finally, Goldman Sachs Group Inc. increased its holdings in American Software by 8.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,439 shares of the software maker’s stock valued at $278,000 after buying an additional 1,061 shares during the period. 83.19% of the stock is currently 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 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.
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