JPMorgan Chase & Co. Sells 66,978 Shares of Agilysys, Inc. $AGYS

JPMorgan Chase & Co. lowered its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 19.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 283,462 shares of the software maker’s stock after selling 66,978 shares during the quarter. JPMorgan Chase & Co.’s holdings in Agilysys were worth $29,834,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in AGYS. Principal Financial Group Inc. increased its holdings in shares of Agilysys by 14.6% in the 3rd quarter. Principal Financial Group Inc. now owns 461,482 shares of the software maker’s stock worth $48,571,000 after purchasing an additional 58,691 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Agilysys by 38.7% during the second quarter. American Century Companies Inc. now owns 627,660 shares of the software maker’s stock valued at $71,955,000 after buying an additional 175,137 shares during the last quarter. Geode Capital Management LLC increased its holdings in Agilysys by 8.0% in the 2nd quarter. Geode Capital Management LLC now owns 607,664 shares of the software maker’s stock worth $69,670,000 after buying an additional 45,037 shares in the last quarter. Artisan Partners Limited Partnership increased its holdings in Agilysys by 9.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 629,891 shares of the software maker’s stock worth $72,211,000 after buying an additional 53,360 shares in the last quarter. Finally, Emerald Mutual Fund Advisers Trust raised its position in Agilysys by 13.1% in 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 currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Agilysys

In other news, Director Melvin L. Keating acquired 300 shares of Agilysys stock in a transaction dated Tuesday, February 3rd. The stock was purchased at an average cost of $83.62 per share, with a total value of $25,086.00. Following the completion of the purchase, the director directly owned 35,007 shares in the company, valued at approximately $2,927,285.34. This trade represents a 0.86% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.60% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on AGYS. BTIG Research began coverage on shares of Agilysys in a research note on Tuesday, December 16th. They set a “neutral” rating on the stock. Wall Street Zen cut shares of Agilysys from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Zacks Research upgraded shares of Agilysys from a “strong sell” rating to a “hold” rating in a report on Thursday. UBS Group reaffirmed a “buy” rating on shares of Agilysys in a research report on Monday, December 15th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $141.40.

Agilysys Price Performance

NASDAQ:AGYS opened at $72.17 on Friday. The business has a fifty day moving average price of $99.63 and a 200-day moving average price of $109.96. The firm has a market capitalization of $2.03 billion, a price-to-earnings ratio of 67.45 and a beta of 0.41. Agilysys, Inc. has a one year low of $63.71 and a one year high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.04). The company had revenue of $80.39 million during the quarter, compared to the consensus estimate of $79.07 million. Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The firm’s quarterly revenue was up 15.6% compared to the same quarter last year. During the same period last year, the business earned $0.38 EPS. On average, equities research analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Agilysys Company 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.