American Software (NASDAQ:AMSWA) Raised to Buy at Zacks Investment Research

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American Software (NASDAQ:AMSWA) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Friday, Zacks.com reports. The firm presently has a $15.00 target price on the software maker’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 12.36% from the company’s current price.

According to Zacks, “American Software Inc., through its subsidiaries, develops, markets and supports a portfolio of application software solutions that enable businesses to respond to today’s dynamic global marketplace. The company’s software and services solutions are designed to automate many planning and operational functions principally in the areas of: (i) Enterprise Resource Planning (ERP), (ii) Flow Manufacturing, (iii) E-Commerce Solutions and (iv) Logility Value Chain Solutions(TM). The company’s products are designed to provide rapid return on investment. “

A number of other brokerages also recently issued reports on AMSWA. BidaskClub raised shares of Zai Lab from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 28th. ValuEngine raised shares of XPO Logistics from a “strong sell” rating to a “sell” rating in a research report on Thursday, April 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of American Software in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $13.01.

AMSWA stock traded up $0.13 during trading on Friday, reaching $13.35. The stock had a trading volume of 52,939 shares, compared to its average volume of 76,028. American Software has a one year low of $8.99 and a one year high of $18.94. The stock has a 50 day moving average price of $13.43. The stock has a market cap of $406.79 million, a P/E ratio of 47.68 and a beta of 0.63.

In other news, Director J Michael Edenfield sold 3,853 shares of the stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $13.22, for a total transaction of $50,936.66. Following the completion of the transaction, the director now directly owns 419,576 shares of the company’s stock, valued at approximately $5,546,794.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Bryan L. Sell sold 4,000 shares of the 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 transaction, the insider now directly owns 4,000 shares of the company’s stock, valued at $52,200. The disclosure for this sale can be found here. Insiders sold a total of 26,310 shares of company stock valued at $353,135 over the last ninety days. 11.24% of the stock is currently owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its position in shares of American Software by 107.5% during the 1st quarter. FMR LLC now owns 2,075 shares of the software maker’s stock valued at $25,000 after acquiring an additional 1,075 shares during the period. BNP Paribas Arbitrage SA lifted its stake 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 buying an additional 5,770 shares in the last quarter. Metropolitan Life Insurance Co. NY lifted its stake in shares of American Software by 413.8% during the 4th quarter. Metropolitan Life Insurance Co. NY now owns 9,280 shares of the software maker’s stock valued at $97,000 after buying an additional 7,474 shares in the last quarter. Millennium Management LLC purchased a new stake in shares of American Software during the 4th quarter valued at approximately $117,000. Finally, Marshall Wace LLP purchased a new stake in shares of American Software during the 1st quarter valued at approximately $156,000. 79.21% of the stock is owned by hedge funds and other institutional investors.

About American Software

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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