Asure Software Amended Its Existing Stock Repurchase Program To Authorize The Company To Purchase Up To $10M In Shares Of Its Common Stock, But No More Than $1.5M In Shares Of Its Common Stock During Any Calendar Quarter
Portfolio Pulse from Benzinga Newsdesk
Asure Software has amended its stock repurchase program, allowing the company to buy back up to $10 million of its common stock. However, purchases are capped at $1.5 million per calendar quarter, according to an SEC filing.
December 13, 2023 | 9:37 pm
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POSITIVE IMPACT
Asure Software's amended repurchase program could signal confidence by management in the company's value, potentially leading to a positive short-term impact on the stock price.
Stock repurchase programs often indicate a company's belief that its shares are undervalued, which can lead to increased investor confidence and a potential rise in stock price. The cap of $1.5M per quarter ensures a paced buyback, which may provide steady support for the stock price over time.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100