Intel stock extends gains after report of possible U.S. government stake
Eyal Goldstein, the Chief Revenue Officer of Asure Software Inc . (NASDAQ:ASUR), has recently sold a total of 10,000 shares of the company's common stock, netting $84,400. The transaction was executed on August 20, 2024, with the shares being sold at a weighted average price of $8.44. This price reflects a range from $8.37 to $8.52, as detailed in the footnotes of the SEC filing.
Additionally, on the same day, Goldstein also acquired 10,000 shares at a price of $6.44, amounting to a total of $64,400. These transactions have adjusted his total direct holdings in the company to 239,243 shares, which includes an aggregate of 12,626 shares previously purchased under the Asure Software Inc. Employee Stock Purchase Plan from 2018 through 2024. It is noted that these shares were inadvertently omitted from Goldstein's prior Form 4 filings.
Asure Software Inc., headquartered in Austin, Texas, specializes in computer integrated systems design, providing innovative management and technology solutions. The recent trading activity by one of its top executives may be of interest to current and potential investors, as it reflects movements within the company's insider share ownership.
The company, with a history of name changes from Forgent Networks Inc., VTEL Corp, to Video Telecom Corp, has a long-standing presence in the technology sector and continues to evolve in its offerings and market position. As investors keep an eye on insider transactions, such as those by Goldstein, they often look for insights into the company's performance and future prospects.
In other recent news, Asure Software, Inc. has reported strong second quarter results in 2024, with revenues reaching $28 million and a notable 18% increase in recurring revenues. A significant part of the company's performance was driven by its Marketplace offering, Payroll Tax Management, and interest from funds held for clients. Over the past months, Asure has completed nine acquisitions, contributing approximately $15 million to its annual recurring revenue.
Asure has also recently announced the acquisition of HireClick, a hiring solution for small and mid-sized businesses. This move is aimed at enhancing Asure's recruitment process capabilities by integrating HireClick's user-friendly applicant tracking features into Asure's comprehensive Human Capital Management (HCM) offerings.
Projecting into the future, the company anticipates a robust second half of 2024, with revenues ranging from $123 million to $129 million and adjusted EBITDA margins of 20% to 21%. The company is also addressing challenges from the Employee Retention Tax Credit (ERTC), but expects these to start easing.
These recent developments suggest a strong forward momentum for Asure, with 70% of sales from new customers and 30% from existing customers. Further details on Asure's progress and projections for 2025 will be provided in the upcoming November call.
InvestingPro Insights
As investors analyze the recent insider trading activity by Eyal Goldstein at Asure Software Inc., it's essential to consider the company's financial health and market performance. According to InvestingPro data, Asure Software Inc. has a market capitalization of $225.69 million and has demonstrated an impressive gross profit margin over the last twelve months, reaching 69.9%. Despite a modest revenue growth of 0.54% in the same period, the company's financials show that it holds more cash than debt, which is a positive sign of financial stability.
One of the InvestingPro Tips for Asure Software Inc. highlights that analysts expect net income growth this year, which could be a factor in Goldstein's recent trading decisions. Additionally, while the stock has experienced a decline over the past month with a -14.99% total return, the company's fundamentals, like the strong gross profit margins, suggest underlying strength in its business model.
For those interested in a deeper analysis, InvestingPro offers further insights, including an additional 6 tips related to Asure Software Inc.'s financials and market performance. These tips, which can be found at https://www.investing.com/pro/ASUR, provide a comprehensive view that could help investors understand the potential trajectory of the company following the insider transactions by Goldstein.
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