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Asure Software, Inc. (Nasdaq: ASUR) Closes Three Deals – Shares Rise

Asure Software, Inc. – Nasdaq: ASUR

Asure Software, Inc., based in Austin, TX, closed three strategic acquisitions and provided financial guidance for fiscal 2017. Its shares, traded on the Nasdaq under ticker ASUR, have risen almost 30% in response.

Asure Software, Inc. provides cloud-based software-as-a-service (SaaS) time and labor management, and workspace management solutions worldwide. On January 1, 2017, Asure Software closed three strategic acquisitions: Personnel Management Systems, Inc. (PMSI), a provider of outsourced HR solutions, Corporate Payroll, Inc. (Payroll Division) (CPI), a provider of payroll services in Ohio, and Payroll Specialties NW, Inc. (PSNW), a provider of payroll services in Oregon.

CEO Goepel stated: “These acquisitions allow us to grow and make strategic decisions about our growth. Since joining as CEO in 2009, Asure had a $6 million market cap and was in a turnaround situation. Now that the transition is complete, we have evolved into a growth company, with a world-class customer base, industry-leading solutions, and a strong financial profile and outlook. With the completion of the recent capital raise, in which insiders participated for greater than 10%, and now the closing of these acquisitions, we are in a position to make strategic decisions to fund for accelerated growth, while continuing to drive strong EBITDA and cash flow.”

Goepel also gave guidance for 2017 “For the full year of 2017, we expect revenue to range between $45 million and $47 million, and EBITDA (excluding one-time expenses) to be between $9 million and $9.5 million.”

Five firms follow Asure Software, Inc. and all five rate ASUR as a “Strong Buy”.

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Ticker Symbol CUDA
Last Price a/o 3:59 AM EST  $                    10.93
Average Volume 92,800
Market Cap $90.6 million
Sales $32.6 million
Shares Outstanding 8.29 million
Share Float 7.34 million
Shortable Yes
Optionable No
Inside Ownership 10.40%
Short Float 3.78%
Short Interest Ratio 2.99
Quarterly Return 58.41%
YTD Return 28.44%
Year Return 145.62%