Wells Fargo & Company MN increased its stake in American Software, Inc. (NASDAQ:AMSWA) by 42.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 295,164 shares of the software maker’s stock after purchasing an additional 88,054 shares during the period. Wells Fargo & Company MN’s holdings in American Software were worth $3,882,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of AMSWA. FMR LLC raised its position in American Software by 107.5% in the 1st quarter. FMR LLC now owns 2,075 shares of the software maker’s stock worth $25,000 after purchasing an additional 1,075 shares during the last quarter. Aperio Group LLC bought a new stake in shares of American Software during the 2nd quarter valued at $67,000. BNP Paribas Arbitrage SA raised its position in shares of American Software by 2,671.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 5,986 shares of the software maker’s stock valued at $72,000 after acquiring an additional 5,770 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of American Software during the 1st quarter valued at $156,000. Finally, Marshall Wace North America L.P. bought a new stake in shares of American Software during the 1st quarter valued at $168,000. Hedge funds and other institutional investors own 77.63% of the company’s stock.
Several analysts have commented on the stock. ValuEngine cut shares of American Software from a “strong-buy” rating to a “buy” rating in a research report on Monday, September 16th. B. Riley upgraded shares of American Software from a “neutral” rating to a “buy” rating and upped their target price for the company from $13.00 to $17.00 in a research report on Thursday, August 29th. William Blair reiterated an “outperform” rating on shares of American Software in a research report on Thursday, June 20th. BidaskClub cut shares of American Software from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, Zacks Investment Research cut shares of American Software from a “buy” rating to a “hold” rating in a research report on Monday, July 15th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $14.68.
American Software (NASDAQ:AMSWA) last released its quarterly earnings data on Wednesday, August 28th. The software maker reported $0.05 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.05. American Software had a net margin of 6.04% and a return on equity of 7.57%. The business had revenue of $27.38 million during the quarter, compared to analysts’ expectations of $27.49 million. As a group, equities analysts expect that American Software, Inc. will post 0.24 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 22nd will be given a $0.11 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 2.92%. The ex-dividend date is Thursday, November 21st. American Software’s dividend payout ratio is currently 157.14%.
In related news, Chairman James C. Edenfield sold 18,223 shares of the company’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $14.97, for a total value of $272,798.31. Following the completion of the transaction, the chairman now directly owns 78,223 shares of the company’s stock, valued at approximately $1,170,998.31. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director J Michael Edenfield sold 34,335 shares of the company’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $15.24, for a total transaction of $523,265.40. Following the completion of the transaction, the director now directly owns 450,058 shares of the company’s stock, valued at $6,858,883.92. The disclosure for this sale can be found here. In the last 90 days, insiders sold 150,508 shares of company stock valued at $2,224,968. 11.19% of the stock is owned by corporate insiders.
American Software 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.
Recommended Story: What member countries make up the G-20?
Want to see what other hedge funds are holding AMSWA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for American Software, Inc. (NASDAQ:AMSWA).
Receive News & Ratings for American Software Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for American Software and related companies with MarketBeat.com's FREE daily email newsletter.