American Software, Inc. (NASDAQ:AMSWA) Stake Cut by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. lessened its holdings in shares of American Software, Inc. (NASDAQ:AMSWA) by 18.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,539 shares of the software maker’s stock after selling 4,532 shares during the quarter. Oppenheimer Asset Management Inc. owned approximately 0.06% of American Software worth $178,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Meeder Asset Management Inc. grew its holdings in shares of American Software by 720.0% during the 2nd quarter. Meeder Asset Management Inc. now owns 6,568 shares of the software maker’s stock valued at $60,000 after acquiring an additional 5,767 shares in the last quarter. Quest Partners LLC boosted its position in American Software by 113,625.0% during the second quarter. Quest Partners LLC now owns 45,490 shares of the software maker’s stock valued at $415,000 after purchasing an additional 45,450 shares during the last quarter. Isthmus Partners LLC grew its stake in American Software by 11.3% in the second quarter. Isthmus Partners LLC now owns 307,832 shares of the software maker’s stock valued at $28,000 after purchasing an additional 31,216 shares in the last quarter. Foundry Partners LLC increased its position in American Software by 11.8% in the 2nd quarter. Foundry Partners LLC now owns 376,085 shares of the software maker’s stock worth $3,434,000 after purchasing an additional 39,685 shares during the last quarter. Finally, Kings Path Partners LLC purchased a new stake in shares of American Software during the 2nd quarter worth about $204,000. Institutional investors and hedge funds own 76.98% of the company’s stock.

American Software Stock Performance

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

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

American Software Announces Dividend

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

Wall Street Analysts Forecast Growth

AMSWA has been the topic of a number of research reports. Maxim Group increased their price objective on American Software from $16.00 to $17.00 and gave the stock a “buy” rating in a report 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.

Insider Activity

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