Agilysys, Inc. $AGYS Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC reduced its stake in Agilysys, Inc. (NASDAQ:AGYS) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 135,329 shares of the software maker’s stock after selling 7,658 shares during the quarter. Granite Investment Partners LLC’s holdings in Agilysys were worth $9,627,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of AGYS. Caitong International Asset Management Co. Ltd raised its stake 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 worth $25,000 after purchasing an additional 172 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Agilysys during the fourth quarter worth $34,000. Measured Wealth Private Client Group LLC purchased a new position in Agilysys in the 3rd quarter valued at $43,000. Advisors Asset Management Inc. grew its position in 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 buying an additional 159 shares during the last quarter. Finally, GAMMA Investing LLC increased its stake in Agilysys by 31.1% in the 4th quarter. GAMMA Investing LLC now owns 552 shares of the software maker’s stock valued at $66,000 after buying an additional 131 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on AGYS. Weiss Ratings upgraded shares of Agilysys from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Oppenheimer lifted their target price on shares of Agilysys from $90.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, May 19th. Zacks Research upgraded shares of Agilysys from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, June 3rd. Cantor Fitzgerald reissued an “overweight” rating on shares of Agilysys in a report on Wednesday, June 17th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Agilysys in a report on Tuesday, May 19th. One research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $116.00.

Agilysys Stock Down 5.8%

Shares of NASDAQ AGYS opened at $106.29 on Thursday. The stock has a market capitalization of $2.99 billion, a price-to-earnings ratio of 78.15 and a beta of 0.37. Agilysys, Inc. has a 52 week low of $61.50 and a 52 week high of $145.25. The firm has a 50-day moving average price of $85.70 and a 200 day moving average price of $86.34.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, May 18th. The software maker reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.12. Agilysys had a net margin of 12.15% and a return on equity of 11.07%. The company had revenue of $82.95 million for the quarter, compared to analyst estimates of $81.56 million. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue for the quarter was up 11.7% compared to the same quarter last year. Equities research analysts expect that Agilysys, Inc. will post 1.77 EPS 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.