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Asure (ASUR) Integrates New Technology With Employee Navigator

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Asure Software (ASUR - Free Report) recently announced that it has built a technology to be integrated with the Employee Navigator software.

Founded in 2008, Employee Navigator is trusted by more than 60,000 companies and around 10 million employees. It delivers all-in-one benefits and HR solutions.

The new functionality will enable health insurance to benefit brokers to provide a seamless two-way integration, opening up a new market for Asure. The new integrated technology will further underpin Asure’s broker referral strategy.

Benefit brokers are a major source of referral for Asure’s new business. The integration of Employee Navigator with Asure Software is anticipated to strengthen the latter’s relationship with Benefit Brokers, adding much more value to the proposition.

The new functionality will enable Benefit Brokers to serve its clients better with a seamless connection between Asure’s payroll and HR solutions, and Employee Navigator services.

In addition, as the pandemic accelerated the adoption of virtual work, Asure responded by providing advanced HR solutions, such as electronic signatures, touchless onboarding and improved employee self-service capabilities as part of its standard solutions.

Acquisitions Expanding Product Portfolio

Asure’s acquisition strategy has helped the company expand its product portfolio rapidly.

At the end of September 2021, Asure’s operating subsidiary Evolution Payroll Processing LLC (EPP), partially funded by its new credit facility with Structural Capital, acquired certain assets of a New Jersey corporation as well as certain assets of a Vermont corporation, both of which were used to provide payroll processing services.

Growth in revenues was partially driven by an increasing number of clients from Asure’s acquisitions in the beginning of 2021.

Previously, Asure had acquired Payroll Maxx LLC. Asure resells its HRIS platform Evolution to organizations, reducing payroll compliance risk and enhancing time management via its comprehensive workforce management solutions.

Zacks Rank and Stocks to Consider

Currently, Asure has a Zacks Rank #3 (Hold).

In the third quarter of fiscal 2021, Asure reported revenues worth $17.98 million, up 12% year over year.

The stock has inched up 0.3% against the Zacks Internet - Delivery Services industry’s decline of 38.9% and the Computer and Technology sector’s growth of 16.3% in the past year.

Some better-ranked stocks in the Zacks Computer and Technology sector are Broadcom (AVGO - Free Report) , currently sporting a Zacks Rank #1 (Strong Buy), besides Advanced Micro Devices (AMD - Free Report) and Apple (AAPL - Free Report) , both carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.

The Zacks Consensus Estimate for Broadcom’s first-quarter fiscal 2022 earnings has been revised upward by 8.1% to $8.15 per share over the past 60 days. For fiscal 2022, earnings estimates have moved upward by 6.5% to $33.03 per share over the past 60 days.

AVGO has rallied 37.9% compared with the Zacks Electronics – Semiconductors industry’s rise of 27.5% and the Computer and Technology sector’s growth of 16.3%.

The Zacks Consensus Estimate for Advanced Micro Devices’s first-quarter fiscal 2022 earnings has been constant at 75 cents per share over the past 30 days. For fiscal 2022, earnings estimates have moved upward by a penny to $2.65 per share in the past 30 days.

Shares of AMD have surged 49.6% compared with the Zacks Electronics – Semiconductors industry’s rise of 27.5% and the Computer and Technology sector’s growth of 16.3%.

The Zacks Consensus Estimate for Apple’s first-quarter fiscal 2022 earnings has been revised upward by a penny to $1.89 per share over the past 30 days. For fiscal 2022, earnings estimates have moved upward by four cents to $5.82 per share in the past 30 days.

AAPL has rallied 33.8% compared with the Zacks Computer - Mini computers industry’s rise of 32.8% and the Computer & Technology sector’s growth of 16.3% in the past year.