Citigroup Inc. raised its position in shares of Absolute Software Co. (NASDAQ:ABST – Get Rating) by 34.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 80,429 shares of the company’s stock after buying an additional 20,545 shares during the period. Citigroup Inc. owned about 0.15% of Absolute Software worth $839,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors have also modified their holdings of the company. Lincluden Management Ltd. purchased a new position in shares of Absolute Software during the fourth quarter worth $18,035,000. 1832 Asset Management L.P. acquired a new position in shares of Absolute Software during the 1st quarter worth about $50,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Absolute Software by 43.6% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,245 shares of the company’s stock worth $96,000 after acquiring an additional 2,805 shares in the last quarter. Raymond James & Associates acquired a new position in shares of Absolute Software during the 3rd quarter worth about $118,000. Finally, Baird Financial Group Inc. acquired a new stake in shares of Absolute Software in the 3rd quarter valued at about $136,000. 75.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, Needham & Company LLC reaffirmed a “buy” rating and set a $14.00 price objective on shares of Absolute Software in a research note on Wednesday, February 15th.
Absolute Software Trading Down 0.8 %
Shares of ABST stock opened at $11.12 on Friday. The company has a market cap of $591.14 million, a price-to-earnings ratio of -22.69 and a beta of 0.64. The stock has a 50 day simple moving average of $9.18 and a 200-day simple moving average of $9.66. Absolute Software Co. has a 12-month low of $7.39 and a 12-month high of $12.59.
Absolute Software Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 24th. Investors of record on Thursday, May 11th were issued a $0.059 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Wednesday, May 10th. Absolute Software’s dividend payout ratio is currently -48.98%.
Insider Buying and Selling
In other news, major shareholder Edenbrook Capital, Llc purchased 25,000 shares of the stock in a transaction that occurred on Tuesday, March 28th. The shares were acquired at an average price of $7.48 per share, for a total transaction of $187,000.00. Following the acquisition, the insider now directly owns 5,506,989 shares in the company, valued at approximately $41,192,277.72. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have bought a total of 37,562 shares of company stock worth $281,541 in the last quarter.
Absolute Software Profile
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.
Further Reading
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