Principal Financial Group Inc. Has $48.57 Million Stock Position in Agilysys, Inc. $AGYS

Principal Financial Group Inc. increased its stake in Agilysys, Inc. (NASDAQ:AGYS) by 14.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 461,482 shares of the software maker’s stock after buying an additional 58,691 shares during the quarter. Principal Financial Group Inc. owned approximately 1.65% of Agilysys worth $48,571,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. American Century Companies Inc. increased its holdings in shares of Agilysys by 38.7% during the 2nd quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock worth $71,955,000 after acquiring an additional 175,137 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Agilysys by 8.0% in the second quarter. Geode Capital Management LLC now owns 607,664 shares of the software maker’s stock valued at $69,670,000 after purchasing an additional 45,037 shares during the last quarter. Artisan Partners Limited Partnership increased its holdings in shares of Agilysys by 9.3% in the second quarter. Artisan Partners Limited Partnership now owns 629,891 shares of the software maker’s stock valued at $72,211,000 after purchasing an additional 53,360 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Agilysys by 23.9% in the second quarter. Franklin Resources Inc. now owns 379,587 shares of the software maker’s stock valued at $43,516,000 after purchasing an additional 73,220 shares during the period. Finally, Emerald Mutual Fund Advisers Trust lifted its stake in shares of Agilysys by 13.1% during the 3rd quarter. Emerald Mutual Fund Advisers Trust now owns 205,857 shares of the software maker’s stock worth $21,666,000 after buying an additional 23,791 shares during the last quarter. 88.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research analysts recently commented on AGYS shares. Wall Street Zen lowered shares of Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Weiss Ratings reiterated a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. BTIG Research began coverage on Agilysys in a report on Tuesday, December 16th. They set a “neutral” rating for the company. Oppenheimer upped their price objective on Agilysys from $130.00 to $140.00 and gave the company an “outperform” rating in a report on Thursday, December 4th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $140.00 price objective on shares of Agilysys in a research report on Tuesday, October 28th. Four equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Agilysys presently has a consensus rating of “Hold” and an average price target of $145.40.

Agilysys Trading Up 3.6%

Shares of Agilysys stock opened at $86.88 on Thursday. The firm’s 50 day moving average is $114.79 and its 200 day moving average is $114.03. The firm has a market capitalization of $2.44 billion, a PE ratio of 81.20 and a beta of 0.41. Agilysys, Inc. has a 1 year low of $63.71 and a 1 year high of $145.25.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The company had revenue of $80.39 million during the quarter, compared to analyst estimates of $79.07 million. Agilysys had a net margin of 9.79% and a return on equity of 10.71%. The business’s quarterly revenue was up 15.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.38 EPS. As a group, research analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

In other Agilysys news, Director Donald A. Colvin sold 6,000 shares of the stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $123.28, for a total value of $739,680.00. Following the completion of the transaction, the director directly owned 24,592 shares in the company, valued at approximately $3,031,701.76. This trade represents a 19.61% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Melvin L. Keating purchased 300 shares of Agilysys stock in a transaction dated Tuesday, February 3rd. The shares were purchased at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the completion of the acquisition, the director owned 35,007 shares of the company’s stock, valued at approximately $2,927,285.34. The trade was a 0.86% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 8.60% of the company’s stock.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.