Asure Software, Inc. (NASDAQ:ASUR) Sees Significant Increase in Short Interest

Asure Software, Inc. (NASDAQ:ASUR) was the recipient of a large growth in short interest during the month of November. As of November 15th, there was short interest totalling 713,300 shares, a growth of 6.7% from the October 31st total of 668,200 shares. Based on an average daily volume of 92,500 shares, the days-to-cover ratio is presently 7.7 days.

Asure Software Price Performance

Asure Software stock opened at $9.42 on Thursday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.04. The business has a 50-day moving average of $9.17 and a 200-day moving average of $8.75. Asure Software has a 1 year low of $6.89 and a 1 year high of $10.52. The firm has a market capitalization of $250.10 million, a P/E ratio of -20.49, a PEG ratio of 1.53 and a beta of 0.53.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ASUR. Stephens initiated coverage on Asure Software in a report on Wednesday, October 16th. They set an “overweight” rating and a $13.00 price objective for the company. Barrington Research restated an “outperform” rating and set a $17.00 target price on shares of Asure Software in a research report on Monday, October 28th. Northland Securities decreased their target price on Asure Software from $16.00 to $12.50 and set an “outperform” rating for the company in a research report on Friday, November 1st. Finally, Needham & Company LLC restated a “buy” rating and set a $20.00 target price on shares of Asure Software in a research report on Friday, November 1st. Five analysts have rated the stock with a buy rating, According to MarketBeat.com, Asure Software presently has an average rating of “Buy” and a consensus price target of $14.50.

Hedge Funds Weigh In On Asure Software

Several institutional investors and hedge funds have recently modified their holdings of the business. Barclays PLC grew its position in shares of Asure Software by 225.7% in the 3rd quarter. Barclays PLC now owns 31,075 shares of the technology company’s stock valued at $281,000 after purchasing an additional 21,533 shares during the period. Geode Capital Management LLC grew its position in shares of Asure Software by 4.4% in the 3rd quarter. Geode Capital Management LLC now owns 580,138 shares of the technology company’s stock valued at $5,251,000 after purchasing an additional 24,649 shares during the period. M&T Bank Corp acquired a new position in shares of Asure Software in the 3rd quarter valued at approximately $516,000. State Street Corp grew its position in shares of Asure Software by 0.5% in the 3rd quarter. State Street Corp now owns 429,298 shares of the technology company’s stock valued at $3,885,000 after purchasing an additional 1,961 shares during the period. Finally, Needham Investment Management LLC grew its position in shares of Asure Software by 25.4% in the 3rd quarter. Needham Investment Management LLC now owns 2,482,500 shares of the technology company’s stock valued at $22,467,000 after purchasing an additional 502,500 shares during the period. 71.58% of the stock is currently owned by institutional investors and hedge funds.

Asure Software Company Profile

Asure Software, Inc engages in the provision of cloud-based Human Capital Management (HCM) software solutions in the United States. It provides its human resources (HR) tool as Software-as-a-Service that helps various small and medium-sized businesses to build productive workforce to help them stay compliant and allocate resources to grow their business.