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Asure Software (ASUR) Expands Services for Small Businesses
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Asure Software (ASUR - Free Report) recently announced a significant addition to its services with the launch of comprehensive 401(k) solutions. Tailored to empower small businesses and their employees on the path to financial security, this strategic move not only bolsters Asure's benefits portfolio but also underscores its commitment to enhancing the financial well-being of its clients.
The 401(k) offerings have numerous advantages, including talent attraction, tax benefits, flexibility, seamless integration, and expert compliance support, positioning Asure as a valuable partner in helping businesses navigate the complex landscape of employee retirement planning.
Expanding Portfolio & Partner Base Aids Growth
ASUR continues to strengthen its position in the market by offering comprehensive, cloud-based Human Capital Management (HCM) software solutions encompassing HR, payroll, time and attendance, administration, and talent management for organizations of all sizes.
Cision's recent market research report indicates that the HCM solutions market is projected to expand by $11,195.8 million between 2022 and 2027, with a compound annual growth rate of 8.45%. The report emphasizes the identification of key industry influencers and provides a comprehensive analysis by synthesizing and summarizing data from various sources.
Furthermore, ASUR's recent collaboration with Amazon’s (AMZN - Free Report) cloud-arm Amazon Web Services (AWS) Application Modernization Lab brings cloud optimization and AI advancements to its Human Capital Management (HCM) SaaS offerings, enhancing performance, scalability, and security while accelerating time-to-market for its solutions.
The partnership with AWS allows Asure Software to expedite its modernization efforts, optimizing its cloud environment and enabling rapid response to Human Capital Management (HCM) market demands, poised to drive top-line growth in the near term.
Additionally, ASUR's collaboration with Vestwell introduces a 401k product bundled with Secure Act 2.0 tax credits, empowering small businesses to compete for talent, fulfill state mandates, and maximize tax credits while bolstering the utilization of ASUR's services in payroll, retirement, and HR compliance.
For the third quarter of fiscal 2023, ASUR expects total revenues between $26 million and $27 million. The Zacks Consensus Estimate for the current quarter revenues is pegged at $26.57 million, indicating year-over-year growth of 21.32%.
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Asure Software (ASUR) Expands Services for Small Businesses
Asure Software (ASUR - Free Report) recently announced a significant addition to its services with the launch of comprehensive 401(k) solutions. Tailored to empower small businesses and their employees on the path to financial security, this strategic move not only bolsters Asure's benefits portfolio but also underscores its commitment to enhancing the financial well-being of its clients.
The 401(k) offerings have numerous advantages, including talent attraction, tax benefits, flexibility, seamless integration, and expert compliance support, positioning Asure as a valuable partner in helping businesses navigate the complex landscape of employee retirement planning.
Expanding Portfolio & Partner Base Aids Growth
ASUR continues to strengthen its position in the market by offering comprehensive, cloud-based Human Capital Management (HCM) software solutions encompassing HR, payroll, time and attendance, administration, and talent management for organizations of all sizes.
Cision's recent market research report indicates that the HCM solutions market is projected to expand by $11,195.8 million between 2022 and 2027, with a compound annual growth rate of 8.45%. The report emphasizes the identification of key industry influencers and provides a comprehensive analysis by synthesizing and summarizing data from various sources.
Asure Software Inc Price and Consensus
Asure Software Inc price-consensus-chart | Asure Software Inc Quote
Furthermore, ASUR's recent collaboration with Amazon’s (AMZN - Free Report) cloud-arm Amazon Web Services (AWS) Application Modernization Lab brings cloud optimization and AI advancements to its Human Capital Management (HCM) SaaS offerings, enhancing performance, scalability, and security while accelerating time-to-market for its solutions.
The partnership with AWS allows Asure Software to expedite its modernization efforts, optimizing its cloud environment and enabling rapid response to Human Capital Management (HCM) market demands, poised to drive top-line growth in the near term.
Additionally, ASUR's collaboration with Vestwell introduces a 401k product bundled with Secure Act 2.0 tax credits, empowering small businesses to compete for talent, fulfill state mandates, and maximize tax credits while bolstering the utilization of ASUR's services in payroll, retirement, and HR compliance.
For the third quarter of fiscal 2023, ASUR expects total revenues between $26 million and $27 million. The Zacks Consensus Estimate for the current quarter revenues is pegged at $26.57 million, indicating year-over-year growth of 21.32%.
Zacks Rank & Other Stocks to Consider
Currently, ASUR sports Zacks Rank #1 (Strong Buy).
ASUR shares have declined 2% year to date, underperforming the Zacks Computer and Technology sector’s growth of 36.3%.
Dell Technologies (DELL - Free Report) and NVIDIA (NVDA - Free Report) are some other top-ranked stocks that investors can consider in the broader sector. You can see the complete list of today’s Zacks #1 Rank stocks here.
DELL and NVDA shares have returned 67% and 209.8%, respectively, year-to-date.
Long-term earnings growth rates for Dell Technologies and NVIDIA are pegged at 12% and 13.5%, respectively.