Barrington Research Initiates Coverage of Asure Software With an "Outperform" Rating
AUSTIN, Texas, Dec. 3, 2013 (GLOBE NEWSWIRE) -- Asure Software (Nasdaq:ASUR), a leading provider of workplace management software solutions, today announced that Barrington Research has initiated coverage for Asure with an "outperform" investment rating. Asure's strengths cited in the Barrington report issued Nov. 26 include:
- SaaS transition progress; growing cloud bookings.
- Increasingly predictable growth and profitability, including 77 percent recurrent revenue as well as "land and expand" cross selling opportunities, international growth potential and diversified customer base.
- Unusually strong management team for a company of its size and confidence in the team to grow the business and maximize shareholder.
- Market penetration potential that is particularly strong for AsureForce® in its target SMB market, which "has been clamoring for a competitive workforce management solution to improve productivity and reduce administrative costs," and AsureSpace's space and equipment management leadership position in an emerging facilities management sector.
"The company (Asure) is poised to increase growth, profitability, and market share, in our opinion, as it completes the transition to SaaS," said Jeff Houston, CFA, Barrington Research Vice President - Senior Investment Analyst. "We like the management team, cross sell potential, international opportunity and valuation."
"We are thrilled to receive this high rating and corresponding vote of confidence from Barrington Research," said Asure Software CEO Pat Goepel. "I am proud of the entire Asure team for its unwavering focus on innovation and service to our clients, as well as sound operations and business strategy to drive growth and shareholder value."
The report is available to institutional investors only and clients of Barrington Research by calling 312-634-6000.
About Asure Software
Asure Software, Inc., (Nasdaq:ASUR) headquartered in Austin, Texas, offers cloud-based time and labor management and workspace management solutions that enable businesses to control their biggest costs — labor, real estate and technology — and prepare for the workforce of the future in a highly mobile, geographically disparate and technically wired work environment. Asure serves approximately 6,000 clients worldwide and currently offers two main product lines: AsureSpace™ workplace management solutions enable organizations to maximize the ROI of their real estate, and AsureForce® time and labor management solutions deliver efficient management of human resource and payroll processes. For more information, please visit www.asuresoftware.com.
Cautionary Note Regarding Forward Looking Statements
This release may contain forward-looking statements that involve risks and uncertainties. Any forward-looking statements and all other statements that may be made in this news release that are not historical facts are subject to a number of risks and uncertainties, and actual results may differ materially. Please refer to Asure Software's filings with the Securities and Exchange Commission (SEC) for more information on the risk factors that could cause actual results to differ. Copies of Asure Software's filing are available from the SEC, may be found on Asure Software's website, or may be obtained upon request from Asure Software.
CONTACT: Jennifer Crow Chief Financial Officer Asure Software 888.323.8835 firstname.lastname@example.org