Shares of Absolute Software Co. (NASDAQ:ABST) have been assigned an average recommendation of “Buy” from the nine analysts that are currently covering the firm, MarketBeat.com reports. Three investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $17.92.
Several brokerages have weighed in on ABST. Raymond James lowered their target price on shares of Absolute Software from $19.00 to $16.00 and set an “outperform” rating for the company in a research note on Wednesday, February 9th. TD Securities upgraded shares of Absolute Software from a “hold” rating to a “buy” rating and raised their target price for the company from $11.00 to $13.00 in a research note on Wednesday, February 9th. Zacks Investment Research upgraded shares of Absolute Software from a “sell” rating to a “hold” rating in a research note on Tuesday, January 11th. Finally, TheStreet downgraded shares of Absolute Software from a “c-” rating to a “d+” rating in a research note on Wednesday, February 9th.
ABST stock traded down $0.40 during trading on Friday, hitting $9.24. 64,349 shares of the company’s stock traded hands, compared to its average volume of 165,449. The firm has a market capitalization of $466.28 million, a P/E ratio of -34.22 and a beta of 0.97. The business has a fifty day simple moving average of $8.64 and a two-hundred day simple moving average of $10.22. Absolute Software has a 1 year low of $7.22 and a 1 year high of $16.22.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 25th. Shareholders of record on Friday, February 11th will be issued a $0.0642 dividend. This is a boost from Absolute Software’s previous quarterly dividend of $0.06. The ex-dividend date is Thursday, February 10th. This represents a $0.26 dividend on an annualized basis and a yield of 2.78%. Absolute Software’s payout ratio is presently -92.59%.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Shell Asset Management Co. increased its stake in shares of Absolute Software by 44.6% during the fourth quarter. Shell Asset Management Co. now owns 5,010 shares of the company’s stock worth $47,000 after purchasing an additional 1,546 shares in the last quarter. National Bank of Canada FI acquired a new position in Absolute Software during the fourth quarter worth about $82,000. Versor Investments LP acquired a new position in Absolute Software during the fourth quarter worth about $98,000. PDT Partners LLC acquired a new position in Absolute Software during the fourth quarter worth about $101,000. Finally, Meridian Investment Counsel Inc. acquired a new position in Absolute Software during the third quarter worth about $132,000. 63.89% of the stock is owned by institutional investors.
About Absolute Software
Absolute Software Corp. engages in the provision of cloud-based service that supports the management and security of computing devices, applications, and data for a variety of organizations. Its solutions includes education, financial services, general date protection regulations (GDPR) compliance, government, healthcare, professional services, and technology solutions such as Absolute for Android, and Absolute for Chromebook.
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