{"id":58823,"date":"2023-09-09T04:15:35","date_gmt":"2023-09-09T08:15:35","guid":{"rendered":"https:\/\/ifintechworld.com\/news\/american-software-sees-slow-sales-cycles-amid-capital-allocation-review-nasdaqamswa\/"},"modified":"2023-09-09T04:15:40","modified_gmt":"2023-09-09T08:15:40","slug":"american-software-sees-slow-sales-cycles-amid-capital-allocation-review-nasdaqamswa","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=58823","title":{"rendered":"American Software Sees Slow Sales Cycles Amid Capital Allocation Review (NASDAQ:AMSWA)"},"content":{"rendered":"<div data-test-id=\"content-container\">\n<p><figure class=\"getty-figure\" data-type=\"getty-image\"><picture><\/picture><figcaption><\/figcaption><\/figure>\n<\/p>\n<h2>A Quick Take On American Software<\/h2>\n<p><strong>American Software<\/strong> (<span class=\"ticker-hover-wrapper\">NASDAQ:AMSWA<\/span>) reported its FQ1 2024 financial results on August 24, 2023, missing revenue but beating consensus earnings estimates.<\/p>\n<p>The firm sells supply chain software and related consulting services to businesses globally.<\/p>\n<p class=\"paywall-full-content invisible\">I previously wrote about American Software with a Hold outlook on expectations for no revenue growth for the current year.<\/p>\n<p class=\"paywall-full-content invisible\">AMSWA continues to face challenging business conditions and uncertainties about strategic capital allocation options the Board is apparently considering.<\/p>\n<p class=\"paywall-full-content invisible\">I remain Neutral [Hold] on the stock for the near term.<\/p>\n<h2 class=\"paywall-full-content invisible\">American Software Overview And Market<\/h2>\n<p class=\"paywall-full-content invisible\">Atlanta, Georgia-based American Software provides supply chain management software and also provides consulting services to clients globally.<\/p>\n<p class=\"paywall-full-content invisible\">The firm is headed by President and CEO H. Allan Dow, who joined subsidiary Logility in 2000 and was appointed as president in 2015.<\/p>\n<p class=\"paywall-full-content invisible\">The company&#8217;s primary offerings<span class=\"paywall-full-content no-summary-bullets invisible\"> include the following:<\/span><\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Supply chain management<\/p>\n<\/li>\n<li>\n<p>Enterprise resource planning<\/p>\n<\/li>\n<li>\n<p>IT consulting<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">American Software acquires customers through its direct sales and marketing teams and through referrals from partners.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The firm has over 900 customers in 80 countries among industrial, enterprise and SMB customer types.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">According to a 2023 market research report by Stratview Research, the market for supply chain management software and services was an estimated $26.2 billion in 2022 and is forecast to reach $47.5 billion by 2028.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">This represents a forecast CAGR of 10.37% from 2023 to 2028.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The main drivers for this expected growth are continued demand for improved visibility into supply chains, which has become particularly important after the disruptions caused by the COVID-19 pandemic and the war in Ukraine.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Also, the chart below shows the expected growth for the supply chain management software market from 2022 to 2028:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_b0KgOuUuZKD5d6O0RGC0pb1IbbnSYmw2TwIi0SSipJLy9H12_1ShcIVvVpGheTsY3FvBmyCSIiYyoZjOf_wWphNgAEk80pth_JvXlYVETXbv7o7iokoQHUFSQWR9iNMdizgg89RUf27UbWE5PkGy6C4_thumb1.png\" alt=\"Global Supply Chain Management Software Market\" loading=\"lazy\"><\/span><figcaption>\n<p class=\"item-caption\">Global Supply Chain Management Software Market (Stratview Research)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Major competitive or other industry participants include:<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Epicor Software<\/p>\n<\/li>\n<li>\n<p>HighJump<\/p>\n<\/li>\n<li>\n<p>Info<\/p>\n<\/li>\n<li>\n<p>IBM<\/p>\n<\/li>\n<li>\n<p>JDA Software Group<\/p>\n<\/li>\n<li>\n<p>Kinaxis<\/p>\n<\/li>\n<li>\n<p>E2open<\/p>\n<\/li>\n<li>\n<p>Oracle<\/p>\n<\/li>\n<li>\n<p>SAP<\/p>\n<\/li>\n<li>\n<p>Descartes Systems Group<\/p>\n<\/li>\n<li>\n<p>Manhattan Associates<\/p>\n<\/li>\n<li>\n<p>Others<\/p>\n<\/li>\n<\/ul>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">American Software&#8217;s Recent Financial Trends<\/h2>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Total revenue by quarter has trended lower due to dropping IT staffing services revenue; operating income by quarter has also moved lower due to rising SG&amp;A costs relative to lower revenue.<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_ncHk-cr1oe_0RVpzSQjIYU_c05mZT91yCrFTiNZfPUe4DQpHwrEqG5rlwrIMpeH3cALcIg7OJpi6zNXxnBNGVpzrBAUUSyt7hsJNgWXwEuLdKUrjM-w9gPHK1DfoS40lpQm7P7OqxQqx-m9rfBUT7jU.png\" alt=\"Total Revenue and Operating Income\" contenteditable=\"false\" loading=\"lazy\"><\/picture><figcaption>\n<p class=\"item-caption\">Total Revenue and Operating Income (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Gross profit margin by quarter has remained stable in recent quarters; selling and G&amp;A expenses as a percentage of total revenue by quarter have risen, possibly due to greater outsourcing costs.<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_T130DxGPbWBHrQjKWFrhQz78ctAenUz9ggxLZKod9rG34gsUr1Il_KAe-Ld88vu125K8DjfHmB6xdnzwGko2RTMBUXq-iZd0OvRslGU-V6ooy3fHYf6foHYXkX49Q3ytbLIbvkD6aAxcFp4HY6-Khag.png\" alt=\"Gross Profit Margin and Selling, G&amp;A % Of Revenue\" contenteditable=\"false\" loading=\"lazy\"><\/picture><figcaption>\n<p class=\"item-caption\">Gross Profit Margin and Selling, G&amp;A % Of Revenue (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<ul class=\"paywall-full-content invisible no-summary-bullets\">\n<li>\n<p>Earnings per share (Diluted) have remained positive but have been trending lower in recent quarters as the firm&#8217;s cost structure has weighed on its net results:<\/p>\n<\/li>\n<\/ul>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_G4am5EoRuw-Ki0Qc6FePGuRLG2wqrXxJEyHEkzsLhDmRiEHQgg3gygASK5z8BHjRewFHi3VUTIWpDw5iw7gvdIiYCnMWD_ajfjATjKXfcDGaRNSvVUQ74DJGuD4gmZLM4HCe03jv71KlETBTyVK5SoA.png\" alt=\"Earnings Per Share\" contenteditable=\"false\" loading=\"lazy\"><\/picture><figcaption>\n<p class=\"item-caption\">Earnings Per Share (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(All data in the above charts is GAAP)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In the past 12 months, AMSWA&#8217;s stock price has dropped 33.43% vs. that of E2open&#8217;s (ETWO) fall of 32.82%:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_S9DWDBWqegtWhNiVU6zQEK5SQoE2NlMYRBnY5PZlVmlOEunPQhMzUjNLzBtRPj5Vzu2lK_UHNuFAEmVHQ1t6AcS_nIuxeNzKz9ecuw-htlE9vG-zwdcvtk1KTFd1P2hAPuzo_UTX-ENTHooeW3O9vJw_thumb1.png\" alt=\"52-Week Stock Price Comparison\" loading=\"lazy\"><\/span><figcaption>\n<p class=\"item-caption\">52-Week Stock Price Comparison (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">For balance sheet results, the firm ended the quarter with $114.8 million in cash, equivalents and short-term investments and no debt.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Over the trailing twelve months, free cash flow was $5.5 million, during which capital expenditures were $2.8 million. The company paid $5.4 million in stock-based compensation in the last four quarters, the highest trailing twelve-month figure in the past eleven quarters.<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Valuation And Other Metrics For American Software<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Below is a table of relevant capitalization and valuation figures for the company:<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<colgroup>\n<col>\n<col> <\/colgroup>\n<tr>\n<td>\n<p><strong>Measure [TTM]<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>Amount<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value \/ Sales<\/p>\n<\/td>\n<td>\n<p>2.3<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value \/ EBITDA<\/p>\n<\/td>\n<td>\n<p>23.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Price \/ Sales<\/p>\n<\/td>\n<td>\n<p>3.2<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Revenue Growth Rate<\/p>\n<\/td>\n<td>\n<p>-6.2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Net Income Margin<\/p>\n<\/td>\n<td>\n<p>9.1%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>EBITDA %<\/p>\n<\/td>\n<td>\n<p>9.7%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Market Capitalization<\/p>\n<\/td>\n<td>\n<p>$389,160,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Enterprise Value<\/p>\n<\/td>\n<td>\n<p>$274,310,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Operating Cash Flow<\/p>\n<\/td>\n<td>\n<p>$7,200,000<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Earnings Per Share (Fully Diluted)<\/p>\n<\/td>\n<td>\n<p>$0.32<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(Source &#8211; Seeking Alpha)<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Below is an estimated DCF (Discounted Cash Flow) analysis of the firm&#8217;s projected growth and earnings:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_03SawRyTN0u9M10kwWE4mvL2NIER9PqQiXRLD0x8d2dvyUbidfmEP1BHlK3WbM52ZUpnR66DQyKZlvNiwguZ7g7myr2-t7d8oZKKpaOVuOHegOim4iDzRve9PJwdeHBED9KyfCu9IBurt1dCPpUs5Io_thumb1.png\" alt=\"Discounted Cash Flow - American Software\" loading=\"lazy\"><\/span><figcaption>\n<p class=\"item-caption\">Discounted Cash Flow &#8211; American Software (GuruFocus)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Based on the DCF, the firm&#8217;s shares should be valued at approximately $8.48 versus the current price of $10.94, indicating they are potentially currently overvalued.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">AMSWA&#8217;s most recent unadjusted Rule of 40 calculation was only 3.5% as of FQ1 2024&#8217;s results, so the firm&#8217;s performance has deteriorated sequentially and is in need of substantial improvement, per the table below:<\/p>\n<p> <span class=\"table-responsive paywall-full-content invisible no-summary-bullets\"><span class=\"table-scroll-wrapper\"><span data-intersection-boundary=\"start\"><\/span><\/p>\n<table>\n<colgroup>\n<col>\n<col>\n<col> <\/colgroup>\n<tr>\n<td>\n<p><strong>Rule of 40 Performance (Unadjusted)<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>FQ4 2023<\/strong><\/p>\n<\/td>\n<td>\n<p><strong>FQ1 2024<\/strong><\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Revenue Growth %<\/p>\n<\/td>\n<td>\n<p>-3.1%<\/p>\n<\/td>\n<td>\n<p>-6.2%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>EBITDA %<\/p>\n<\/td>\n<td>\n<p>8.6%<\/p>\n<\/td>\n<td>\n<p>9.7%<\/p>\n<\/td>\n<\/tr>\n<tr>\n<td>\n<p>Total<\/p>\n<\/td>\n<td>\n<p>5.5%<\/p>\n<\/td>\n<td>\n<p>3.5%<\/p>\n<\/td>\n<\/tr>\n<\/table>\n<p> <span data-intersection-boundary=\"end\"><\/span><\/span><button class=\"table-enlarge-button\"><svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewbox=\"0 0 16 16\" class=\"table-enlarge-icon\"><path fill-rule=\"evenodd\" clip-rule=\"evenodd\" d=\"M16 11a5 5 0 0 1-5 5H5a5 5 0 0 1-5-5V5a5 5 0 0 1 5-5h6a5 5 0 0 1 5 5v6zm-4.5-2.5h2v-6h-6v2h4v4zm-9-1h2v4h4v2h-6v-6z\"><\/path><\/svg>Click to enlarge<\/button><\/span> <\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">(Source &#8211; Seeking Alpha)<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Sentiment Analysis<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I prepared an analysis of keyword frequency of management&#8217;s current earnings conference call:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><picture><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_2LPTRic6Z-tN6YCPBtlV-bm-egG52cnoF3de8P5MKKzF6B-RlMmc7hxS1VYEJeeyK4itI4b9Bez4mlsprwotE42-XV8Ryl8iaXBiQECJ8D5PPLfLZELA7i5gYtdgX6Pwm3077mi4MK1WV9dK8K5ScpY.png\" alt=\"Earnings Transcript Key Terms Frequency\" contenteditable=\"false\" loading=\"lazy\"><\/picture><figcaption>\n<p class=\"item-caption\">Earnings Transcript Key Terms Frequency (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The chart above shows significant negative discussion about the firm&#8217;s business conditions, with numerous mentions of &#8216;Recession, Uncertain, Challenging, Headwind and Macro&#8217; keywords.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Analysts questioned senior management about a range of topics, including sales cycles, a potential headquarters building sale and other strategic actions.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Management responded by saying that sales and approval cycles have stabilized compared to the previous quarter, but there are no signs of improvement yet. Leadership expects some sales cycle acceleration in the fall.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Furthermore, potential strategic actions like a sale of its headquarters which could free up cash for distributions, buyback or acquisitions, which are in the process of being reviewed by the Board.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Management also expected gross margins to improve in coming quarters due to continued cost reductions and increased professional services revenue.<\/p>\n<h2 class=\"paywall-full-content invisible no-summary-bullets\">Commentary On American Software<\/h2>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In its last earnings call (Source &#8211; Seeking Alpha), covering FQ1 2024&#8217;s results, leadership highlighted the firm&#8217;s revenue fluctuations due in part to seasonal factors.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">However, professional services revenue did not meet expectations, while subscription revenue growth met expectations at a 14% growth rate YoY.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Recurring revenue now represents 75% of total revenue, and the company has been able to secure &#8216;inflationary increases on renewals.&#8217;<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Management has sought to simplify its project implementation processes and has increased its outsourcing efforts, which will reduce its service revenue contribution to total revenue.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Leadership didn&#8217;t publish details on company or revenue retention rate metrics but did characterize its &#8216;retention rates as returning to more normalized levels.&#8217;<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Total revenue for FQ1 2024 fell 6.7% year-over-year, and gross profit margin was flat.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Selling and G&amp;A expenses as a percentage of revenue increased 2.7% year-over-year while operating income decreased 38.5%.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">The company&#8217;s financial position is strong, with ample liquidity, no debt and small positive free cash flow generation.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">AMSWA&#8217;s Rule of 40 performance has been low and declining.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Looking ahead, full fiscal year 2024 revenues are expected to decline 2.2% year-over-year.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">If achieved, this would represent a drop in revenue decline rate versus fiscal 2023&#8217;s decline rate of 3.2% over fiscal 2022.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">In the past twelve months, the firm&#8217;s EV\/EBITDA valuation multiple has fallen by 24%, as the chart from Seeking Alpha shows below:<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">\n<figure class=\"regular-img-figure paywall-full-content invisible\" contenteditable=\"false\"><span><img decoding=\"async\" src=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/09\/saupload_zURUvzcvkwxiF6KHDVynM6bGnqkPJkrG-68iQyaue61du4Jk0NFnkhQoy_8Bm_o4jNaYzGRyEHFtIiBq4TAJBXl4WCVibx5mh6GNpkOqvsVySGVi-5UxaV3WsnYZq3CkanM21ihYhnFdX9Usdt_dBpE_thumb1.png\" alt=\"EV\/EBITDA Multiple History\" loading=\"lazy\"><\/span><figcaption>\n<p class=\"item-caption\">EV\/EBITDA Multiple History (Seeking Alpha)<\/p>\n<\/figcaption><\/figure>\n<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">A potential upside catalyst to the stock could include sales cycle improvement in the back half of 2023, per management&#8217;s discussion.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">Also, if the Board approves a buyback, announces the sale of the company headquarters or makes a notable acquisition announcement, then that could be a catalyst for the stock, at least in the short term.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">However, given analyst concerns and challenges management is facing with business conditions, absent any of those potential announcements, the underlying fundamentals of the company are not strong enough to get too excited about.<\/p>\n<p class=\"paywall-full-content invisible no-summary-bullets\">I remain Neutral [Hold] on AMSWA for the near term.<\/p>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/seekingalpha.com\/article\/4634070-american-software-slow-sales-cycles-amid-capital-allocation-review?source=feed_all_articles\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>A Quick Take On American Software American Software (NASDAQ:AMSWA) reported its FQ1 2024 financial results on August 24, 2023, missing revenue but beating consensus earnings estimates. The firm sells supply chain software and related consulting services to businesses globally. I previously wrote about American Software with a Hold outlook on expectations for no revenue growth [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":58824,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[236],"tags":[83],"class_list":["post-58823","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-news","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>American Software Sees Slow Sales Cycles Amid Capital Allocation Review (NASDAQ:AMSWA) | iFintechWorld<\/title>\n<meta name=\"description\" content=\"A Quick Take On American Software American Software (NASDAQ:AMSWA) reported its FQ1 2024 financial results on August 24, 2023, missing revenue but beating\" \/>\n<meta name=\"robots\" content=\"index, follow, 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