Brown Capital Management LLC Has $74.50 Million Position in Agilysys, Inc. (NASDAQ:AGYS)

Brown Capital Management LLC cut its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 9.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 683,661 shares of the software maker’s stock after selling 69,148 shares during the quarter. Agilysys comprises approximately 1.6% of Brown Capital Management LLC’s holdings, making the stock its 21st largest position. Brown Capital Management LLC owned about 2.45% of Agilysys worth $74,499,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Agilysys by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Agilysys in the second quarter worth about $1,847,000. UniSuper Management Pty Ltd bought a new stake in shares of Agilysys during the 1st quarter worth about $388,000. Price T Rowe Associates Inc. MD boosted its stake in shares of Agilysys by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock worth $33,970,000 after acquiring an additional 20,703 shares in the last quarter. Finally, Natixis Advisors LLC acquired a new position in shares of Agilysys during the 2nd quarter valued at about $1,111,000. 88.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently commented on AGYS shares. Northland Securities reissued an “outperform” rating and issued a $145.00 price target (up previously from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. BTIG Research boosted their target price on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their price target on Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Oppenheimer lifted their price objective on Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $134.80.

Agilysys Stock Up 2.1 %

Shares of AGYS stock opened at $125.78 on Thursday. Agilysys, Inc. has a one year low of $73.52 and a one year high of $128.61. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. The stock has a fifty day moving average price of $111.40 and a 200 day moving average price of $105.23. The stock has a market cap of $3.52 billion, a P/E ratio of 35.83 and a beta of 0.85.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The company had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. During the same period last year, the firm earned $0.25 EPS. Analysts predict that Agilysys, Inc. will post 0.81 earnings per share for the current year.

Insider Buying and Selling at Agilysys

In related news, SVP Kyle C. Badger sold 471 shares of Agilysys stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $100.86, for a total transaction of $47,505.06. Following the completion of the transaction, the senior vice president now directly owns 115,117 shares of the company’s stock, valued at $11,610,700.62. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,023 shares of company stock valued at $4,548,979. 19.30% of the stock is currently owned by corporate insiders.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.