Rhumbline Advisers Cuts Stock Holdings in American Software, Inc. (NASDAQ:AMSWA)

Rhumbline Advisers trimmed its position in shares of American Software, Inc. (NASDAQ:AMSWA) by 7.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 266,352 shares of the software maker’s stock after selling 20,290 shares during the quarter. Rhumbline Advisers owned approximately 0.80% of American Software worth $2,432,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Investors Asset Management of Georgia Inc. GA ADV increased its holdings in shares of American Software by 0.6% during the 2nd quarter. Investors Asset Management of Georgia Inc. GA ADV now owns 155,189 shares of the software maker’s stock valued at $1,417,000 after purchasing an additional 950 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of American Software by 6.0% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 34,651 shares of the software maker’s stock valued at $397,000 after purchasing an additional 1,976 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of American Software by 15.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 18,400 shares of the software maker’s stock valued at $211,000 after purchasing an additional 2,500 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in shares of American Software by 20.6% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 24,071 shares of the software maker’s stock valued at $276,000 after purchasing an additional 4,111 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC grew its stake in American Software by 14.2% in the 4th quarter. Campbell & CO Investment Adviser LLC now owns 44,961 shares of the software maker’s stock valued at $508,000 after acquiring an additional 5,605 shares during the period. 76.98% of the stock is owned by hedge funds and other institutional investors.

American Software Stock Performance

American Software stock opened at $10.74 on Thursday. The company’s fifty day moving average price is $10.50 and its 200 day moving average price is $10.39. American Software, Inc. has a 1 year low of $8.41 and a 1 year high of $12.27. The stock has a market capitalization of $357.44 million, a P/E ratio of 31.59 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, topping 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 analysts’ expectations of $24.89 million. During the same quarter in the previous year, the company posted $0.08 EPS. Sell-side analysts predict that American Software, Inc. will post 0.19 EPS for the current year.

American Software Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Friday, November 15th will be paid a dividend of $0.11 per share. The ex-dividend date is Friday, November 15th. This represents a $0.44 annualized dividend and a yield of 4.10%. American Software’s dividend payout ratio (DPR) is presently 129.41%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on AMSWA shares. Maxim Group lifted their price target 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. B. Riley dropped their price target 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.

Insiders Place Their Bets

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

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.