Mackenzie Financial Corp Increases Holdings in American Software, Inc. (NASDAQ:AMSWA)

Mackenzie Financial Corp boosted its stake in American Software, Inc. (NASDAQ:AMSWA) by 9.8% in the 2nd quarter, Holdings Channel reports. The firm owned 18,379 shares of the software maker’s stock after buying an additional 1,633 shares during the quarter. Mackenzie Financial Corp’s holdings in American Software were worth $168,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Isthmus Partners LLC grew its stake in shares of 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 buying an additional 31,216 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its holdings in American Software by 158.5% in the 2nd quarter. Point72 Asia Singapore Pte. Ltd. now owns 6,344 shares of the software maker’s stock worth $58,000 after acquiring an additional 3,890 shares during the period. Meeder Asset Management Inc. grew its position in American Software by 720.0% in the second 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. Lazard Asset Management LLC purchased a new stake in shares of American Software during the first quarter valued at approximately $92,000. Finally, EntryPoint Capital LLC acquired a new position in shares of American Software during the first quarter worth $103,000. 76.98% of the stock is owned by hedge funds and other institutional investors.

American Software Stock Performance

Shares of AMSWA opened at $10.95 on Tuesday. American Software, Inc. has a 1 year low of $8.41 and a 1 year high of $12.27. The firm has a fifty day moving average of $10.79 and a 200-day moving average of $10.36. The company has a market cap of $364.43 million, a price-to-earnings ratio of 32.21 and a beta of 0.76.

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

American Software Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 29th. Investors of record on Friday, November 15th will be issued a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 4.02%. The ex-dividend date of this dividend is Friday, November 15th. American Software’s payout ratio is currently 129.41%.

Wall Street Analyst Weigh In

AMSWA has been the subject of several recent analyst reports. Maxim Group raised their target price on American Software from $16.00 to $17.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. StockNews.com downgraded American Software from a “strong-buy” rating to a “buy” rating in a report on Tuesday.

American Software Profile

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.