ASUR - Asure Software Has Been Punished Too Much

Asure Software (ASUR) is a provider of Human Capital Management ((HCM)) and workspace management software. We actually wrote about this company all the way back in 2012 here, but the present company is quite a different beast and that article long lost its relevance.

We start with the usual overview of the last five years which displays some kind of revenue explosion, mostly driven by acquisitions. It's not surprising (GAAP) net income has suffered as the cost of acquisitions predates the benefits.

Data by YCharts

Here are the company's two main planks of

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