Jennison Associates LLC Boosts Stake in Agilysys, Inc. $AGYS

Jennison Associates LLC grew its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS) by 64.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 365,580 shares of the software maker’s stock after acquiring an additional 143,789 shares during the period. Jennison Associates LLC’s holdings in Agilysys were worth $26,007,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of AGYS. GAMMA Investing LLC lifted its stake in shares of Agilysys by 31.1% in the fourth quarter. GAMMA Investing LLC now owns 552 shares of the software maker’s stock worth $66,000 after acquiring an additional 131 shares in the last quarter. ProShare Advisors LLC grew its stake in Agilysys by 3.1% during the 4th quarter. ProShare Advisors LLC now owns 5,023 shares of the software maker’s stock valued at $597,000 after purchasing an additional 153 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in Agilysys by 1.1% during the 4th quarter. State of Alaska Department of Revenue now owns 14,326 shares of the software maker’s stock worth $1,701,000 after purchasing an additional 156 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker’s stock valued at $50,000 after purchasing an additional 159 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in shares of Agilysys by 33.7% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 639 shares of the software maker’s stock valued at $81,000 after buying an additional 161 shares during the last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Stock Performance

Shares of AGYS opened at $106.28 on Tuesday. The firm has a fifty day moving average of $91.98 and a 200-day moving average of $85.58. The company has a market cap of $3.00 billion, a price-to-earnings ratio of 78.15 and a beta of 0.37. Agilysys, Inc. has a 1 year low of $61.50 and a 1 year high of $145.25.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, May 18th. The software maker reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. The business had revenue of $82.95 million for the quarter, compared to analysts’ expectations of $81.56 million. Agilysys had a net margin of 12.15% and a return on equity of 11.07%. The company’s revenue for the quarter was up 11.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Analysts predict that Agilysys, Inc. will post 1.77 EPS for the current year.

Analyst Ratings Changes

AGYS has been the subject of a number of research analyst reports. Piper Sandler started coverage on shares of Agilysys in a research note on Tuesday, June 2nd. They issued an “overweight” rating and a $110.00 price target for the company. Weiss Ratings raised shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Agilysys in a report on Tuesday, May 19th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a research note on Wednesday, June 17th. Finally, UBS Group set a $110.00 price objective on shares of Agilysys in a research report on Wednesday, June 3rd. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Agilysys presently has an average rating of “Moderate Buy” and an average price target of $116.00.

Agilysys Profile

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.