Wasatch Advisors LP Decreases Stock Holdings in Agilysys, Inc. $AGYS

Wasatch Advisors LP lowered its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 1.7% during the second quarter, Holdings Channel.com reports. The firm owned 937,420 shares of the software maker’s stock after selling 16,310 shares during the quarter. Wasatch Advisors LP’s holdings in Agilysys were worth $97,960,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Agilysys by 419.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock valued at $25,000 after buying an additional 172 shares during the last quarter. Optiver Holding B.V. grew its position in shares of Agilysys by 700.0% in the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock worth $32,000 after buying an additional 399 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in shares of Agilysys in the 4th quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new position in shares of Agilysys during the 3rd quarter worth approximately $43,000. Finally, Versant Capital Management Inc raised its stake in shares of Agilysys by 123.9% during the 2nd quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock worth $44,000 after acquiring an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a research note on Tuesday, July 28th. Oppenheimer reissued an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a research report on Tuesday, July 28th. Needham & Company LLC boosted their target price on Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday. Piper Sandler upped their target price on Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Finally, Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $124.60.

Agilysys Trading Down 0.4%

NASDAQ:AGYS opened at $106.57 on Wednesday. Agilysys, Inc. has a twelve month low of $61.50 and a twelve month high of $145.25. The company has a market cap of $3.01 billion, a PE ratio of 70.58 and a beta of 0.37. The company’s 50 day moving average is $100.86 and its two-hundred day moving average is $84.52.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The business had revenue of $87.68 million during the quarter, compared to analysts’ expectations of $85.97 million. During the same quarter last year, the company posted $0.33 earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, analysts expect that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

Insider Activity at Agilysys

In related news, CEO Ramesh Srinivasan sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $108.15, for a total value of $2,703,750.00. Following the sale, the chief executive officer owned 610,044 shares in the company, valued at $65,976,258.60. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders sold a total of 197,410 shares of company stock worth $21,285,381 over the last three months. Insiders own 8.70% of the company’s stock.

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.