Analysts at Zacks Investment Research upgraded shares of American Software Inc. (NASDAQ: AMSWA) from Sell to Hold today. With a rating of Hold on the stock, American Software Inc. has a 52-week high of $11.94. The one-year price target of $12.75 is above the opening price of $10.66, resulting a fair amount of other analysts to comment on the company in recent days. Share prices sometimes get a boost to the upside when analysts upgrade a stock.
U.S. stocks closed higher Tuesday as investors anticipate the results of meetings from the Federal Reserve and the Bank of Japan.
The Dow Jones Industrial Average DJIA, +0.05% rose 9.79 points, or less than 0.1%, to close at 18,129.96.
The S&P 500 index SPX, +0.03% advanced 0.64 points to finish at 2,139.76, led by gains in the health-care and consumer-staples sectors.
The Nasdaq Composite index COMP, +0.12% gained 6.33 points, or 0.1%, to close at 5,241.35.
Yesterday American Software Inc. (NASDAQ: AMSWA) shares last traded at $10.82, a spike of $0.17 over the previous closing price. Opening at $10.66, they ranged from $10.62 and $10.97 throughout the day.
American Software Inc. (NASDAQ: AMSWA) currently has a market cap of 314.89M.
27,644 shares crossed the trading desk yesterday, 92 percent lower than the norm, out of a total float 23,926,000. Investors often use upticks in trading volume to determine large volume accumulation or dissemination by institutional investors, so trading volume is likely to increase in the next few days.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a series of days or weeks expresses a positive indicator to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship simply refers to ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these have substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
By spotting trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for American Software Inc. (NASDAQ: AMSWA) have ranged from $8.56 – 11.94, and the stock now has a 50-day MA of $10.88 and 200-day MA of $9.93. Today’s last price is 0.09% under the 52 week high of $11.94.
Earnings growth is an important factor to look at when investing in stocks and investors seek companies that have increased their earnings at least 25% or more for 3 consecutive years.
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