Cloverdale Capital Management LLC raised its stake in American Software, Inc. (NASDAQ:AMSWA) by 54.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,079,966 shares of the software maker’s stock after acquiring an additional 381,849 shares during the quarter. American Software comprises approximately 9.8% of Cloverdale Capital Management LLC’s investment portfolio, making the stock its 5th biggest holding. Cloverdale Capital Management LLC’s holdings in American Software were worth $14,202,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of AMSWA. Dimensional Fund Advisors LP increased its position in American Software by 1.3% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,155,992 shares of the software maker’s stock valued at $12,080,000 after acquiring an additional 15,304 shares in the last quarter. BNP Paribas Arbitrage SA boosted its stake in shares of American Software by 2,671.3% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,986 shares of the software maker’s stock valued at $72,000 after purchasing an additional 5,770 shares during the last quarter. Victory Capital Management Inc. bought a new position in shares of American Software in the 1st quarter valued at about $909,000. Nelson Van Denburg & Campbell Wealth Management Group LLC boosted its stake in shares of American Software by 42.3% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 23,440 shares of the software maker’s stock valued at $280,000 after purchasing an additional 6,973 shares during the last quarter. Finally, Martingale Asset Management L P boosted its stake in shares of American Software by 200.4% in the 1st quarter. Martingale Asset Management L P now owns 175,415 shares of the software maker’s stock valued at $2,097,000 after purchasing an additional 117,015 shares during the last quarter. Hedge funds and other institutional investors own 77.63% of the company’s stock.
AMSWA stock traded up $0.10 during mid-day trading on Thursday, hitting $15.05. 30,089 shares of the company were exchanged, compared to its average volume of 95,655. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.60 and a current ratio of 2.60. The firm has a market cap of $470.24 million, a P/E ratio of 53.75 and a beta of 0.56. The firm’s 50 day simple moving average is $14.30 and its 200 day simple moving average is $13.22. American Software, Inc. has a 1-year low of $8.99 and a 1-year high of $16.06.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 22nd will be issued a dividend of $0.11 per share. The ex-dividend date is Thursday, November 21st. This represents a $0.44 annualized dividend and a yield of 2.92%. American Software’s dividend payout ratio (DPR) is currently 157.14%.
In other news, Director J Michael Edenfield sold 6,020 shares of American Software stock in a transaction that occurred on Monday, June 24th. The shares were sold at an average price of $14.36, for a total value of $86,447.20. Following the sale, the director now directly owns 421,743 shares in the company, valued at $6,056,229.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Bryan L. Sell sold 4,000 shares of American Software stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $13.05, for a total transaction of $52,200.00. Following the completion of the sale, the insider now owns 4,000 shares in the company, valued at $52,200. The disclosure for this sale can be found here. Insiders have sold a total of 132,285 shares of company stock worth $1,952,169 over the last 90 days. Corporate insiders own 11.19% of the company’s stock.
Several research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of American Software from a “buy” rating to a “hold” rating in a research note on Monday, July 15th. ValuEngine lowered shares of American Software from a “strong-buy” rating to a “buy” rating in a research note on Monday. William Blair reissued an “outperform” rating on shares of American Software in a research note on Thursday, June 20th. B. Riley raised shares of American Software from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $13.00 to $17.00 in a research note on Thursday, August 29th. Finally, BidaskClub lowered shares of American Software from a “buy” rating to a “hold” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $14.68.
American Software Company Profile
American Software, Inc develops, markets, and supports a portfolio of software and services worldwide. It operates in three segments: Supply Chain Management (SCM), Information Technology (IT) Consulting, and Other. The SCM segment provides supply chain management and retail planning solutions, including sales and operations planning, demand and inventory optimization, manufacturing planning and scheduling, supply optimization, retail allocation and merchandise planning, and transportation optimization solutions to streamline and optimize the forecasting, inventory, production scheduling, production, supply, allocation, distribution, and management of products between trading partners.
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