American Software (NASDAQ:AMSWA) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday, September 20th.

Other equities analysts have also recently issued research reports about the company. B. Riley increased their target price on American Software from $14.50 to $18.00 and gave the stock a “buy” rating in a report on Friday, June 22nd. Zacks Investment Research cut American Software from a “buy” rating to a “hold” rating in a report on Friday, June 29th. Finally, ValuEngine upgraded American Software from a “buy” rating to a “strong-buy” rating in a report on Friday, July 6th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $15.00.

American Software stock traded down $0.13 during mid-day trading on Thursday, hitting $11.40. 290,342 shares of the company’s stock were exchanged, compared to its average volume of 97,492. The company has a market capitalization of $374.88 million, a PE ratio of 31.67 and a beta of 0.77. American Software has a fifty-two week low of $11.11 and a fifty-two week high of $18.94.

In other news, Director J Michael Edenfield sold 10,300 shares of the firm’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $13.10, for a total value of $134,930.00. Following the completion of the transaction, the director now owns 426,023 shares in the company, valued at approximately $5,580,901.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 11.24% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in American Software by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 527,069 shares of the software maker’s stock worth $7,679,000 after acquiring an additional 10,179 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in American Software during the second quarter worth approximately $191,000. Renaissance Technologies LLC lifted its position in American Software by 3.5% during the second quarter. Renaissance Technologies LLC now owns 2,149,600 shares of the software maker’s stock worth $31,320,000 after acquiring an additional 73,500 shares during the last quarter. Millennium Management LLC lifted its position in American Software by 26.4% during the first quarter. Millennium Management LLC now owns 117,331 shares of the software maker’s stock worth $1,525,000 after acquiring an additional 24,542 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in American Software by 61.9% during the first quarter. Wells Fargo & Company MN now owns 94,054 shares of the software maker’s stock worth $1,222,000 after acquiring an additional 35,965 shares during the last quarter. Institutional investors and hedge funds own 75.19% of the company’s stock.

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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