Asure Software ASUR recently announced its prestigious invitation to join the SAP SAP PartnerEdge Open Ecosystem. This significant milestone empowers Asure to leverage a rich array of tools, resources and training to enhance its advanced payroll tax engine.
By seamlessly integrating with SAP systems, Asure aims to optimize payroll tax processes for its existing SAP clients.
This integration reaffirms Asure's dedication to expanding its capabilities and reflects its commitment to fostering growth and innovation within the Human Capital Management (HCM) domain.
Asure Software Inc Price and Consensus
Asure Software Inc price-consensus-chart | Asure Software Inc Quote
Expanding Portfolio Aids Growth
The latest move is in sync with ASUR’s increasing efforts to expand its presence in the global HCM market by offering comprehensive cloud-based solutions for HR, payroll, time, attendance, administration, and talent management.
Per a recent market research report the HCM solutions market is expected to hit $11.2 billion between 2022 and 2027, witnessing a CAGR of 8.45%.
Asure recently launched a 401k product with Vestwell's platform, simplifying tax credits for small businesses in the talent competition and state compliance and optimizing benefits through integrated payroll, retirement and HR Compliance services.
Asure recently announced the integration of Lendio into the Asure Marketplace, offering clients seamless access to Lendio's diverse business financing solutions through a unified online application. This will advance its commitment to providing growth-sustaining capital for businesses.
All the abovementioned endeavors are likely to aid ASUR's overall financial performance.
In the third quarter of 2023, Asure demonstrated significant financial progress, reporting a remarkable 34% increase in revenues. Notably, recurring revenues saw a robust growth of 19%, which includes HR Compliance solutions, Asure Marketplace and increased interest revenues, with the average client balance exceeding $200 million in the reported quarter.
For 2023, ASUR anticipates total revenues between $118 million and $120 million, indicating 19% growth at the midpoint. The Zacks Consensus Estimate for revenues is pegged at $119.27 million, indicating 24.46% growth year over year.
The Zacks Consensus Estimate for earnings is pegged at 60 cents per share, unchanged in the past 30 days.
Zacks Rank & Stocks to Consider
Asure currently carries a Zacks Rank #3 (Hold).
ASUR’s shares have plunged 4.4% year to date against the Zacks Computer & Technology sector’s surge of 49.8%.
Flex FLEX and Vertiv VRT are some better-ranked stocks that investors can consider from the broader sector, each sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
FLEX and VRT shares have returned 40.1% and 255.6%, respectively, on a year-to-date basis.
Long-term earnings growth rates for Flex and Vertiv are pegged at 12.39% and 53.86%, respectively.
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Flex Ltd. (FLEX) : Free Stock Analysis Report
Asure Software Inc (ASUR) : Free Stock Analysis Report
Vertiv Holdings Co. (VRT) : Free Stock Analysis Report
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