Asure Software Shares Climb 4.6% After Stronger-than-expected FY17 Sales Guidance

Shares of Asure Software Inc. rose 4.6% in early trade Tuesday, after the company said it has closed three acquisitions and offered guidance for fiscal 2017. The company said it closed the acquisition of Personnel Management Systems Inc., a provider of outsourced HR solutions, Corporate Payroll Inc. (Payroll Division), a provider of payroll services in Ohio, and Payroll Specialties NW Inc., a provider of payroll services in Oregon. The company is now expecting fiscal 2017 revenue of $45 million to $47 million, well ahead of the current FactSet consensus of $25 million, and EBITDA of $9 million to $9.5 million.