B.Riley FBR analyst Kevin Liu maintained a Hold rating on American Software (NASDAQ: AMSWA) today and set a price target of $17.50. The company’s shares opened today at $17.83, close to its 52-week high of $18.94.
Liu observed:
“American Software (AMSWA) reported 1Q19 (July) results below our estimates. The revenue shortfall was mostly attributable to lower professional services revenue, which management attributed to the completion of a couple of larger engagements intra-quarter and seasonal softness in new project starts. License fees also came in lower than modeled although this was not particularly concerning given the ongoing transition to the cloud. For the first time, AMSWA disclosed subscription services revenues separately from professional services. While we had not explicitly forecast subscription revenues, the reported figure and high associated growth rate were not surprising given the company’s previously disclosed cloud services ACV metric.”
According to TipRanks.com, Liu is a 5-star analyst with an average return of 14.3% and a 66.4% success rate. Liu covers the Technology sector, focusing on stocks such as Cornerstone Ondemand, Tyler Technologies, and Netscout Systems.
The word on The Street in general, suggests a Hold analyst consensus rating for American Software with a $17.50 average price target.
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The company has a one-year high of $18.94 and a one-year low of $10.59. Currently, American Software has an average volume of 113.9K.
Based on the recent corporate insider activity of 89 insiders, corporate insider sentiment is negative on the stock. Most recently, in July 2018, Vincent Klinges, the CFO of AMSWA sold 6,626 shares for a total of $97,601.
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American Software, Inc. engages in the development and marketing of software and services which deliver supply chain and advanced retail planning solutions. It operates through the following segments: Supply Chain Management (SCM), Information Technology (IT) Consulting, and Other.
