Wasatch Advisors LP Lowers Stock Position in Agilysys, Inc. (NASDAQ:AGYS)

Wasatch Advisors LP lowered its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 15.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 976,400 shares of the software maker’s stock after selling 175,729 shares during the quarter. Wasatch Advisors LP owned about 3.49% of Agilysys worth $106,398,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after buying an additional 154 shares during the period. CWM LLC lifted its position in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after buying an additional 199 shares during the period. Larson Financial Group LLC purchased a new position in Agilysys during the second quarter valued at $32,000. Advisors Asset Management Inc. lifted its position in Agilysys by 117.4% during the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after buying an additional 182 shares during the period. Finally, NBC Securities Inc. purchased a new position in Agilysys during the third quarter valued at $46,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Insider Buying and Selling

In other news, insider Chris J. Robertson sold 264 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $100.86, for a total transaction of $26,627.04. Following the completion of the sale, the insider now owns 22,624 shares of the company’s stock, valued at $2,281,856.64. This represents a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $106.78, for a total transaction of $1,067,800.00. Following the sale, the chief executive officer now directly owns 758,367 shares of the company’s stock, valued at $80,978,428.26. The trade was a 1.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 37,523 shares of company stock worth $4,068,899. 19.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Agilysys Price Performance

NASDAQ AGYS opened at $134.30 on Friday. Agilysys, Inc. has a one year low of $73.52 and a one year high of $139.99. The stock has a 50-day moving average of $115.92 and a 200 day moving average of $107.71. The company has a market capitalization of $3.75 billion, a price-to-earnings ratio of 38.26 and a beta of 0.85. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13.

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

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.