Lazard Asset Management LLC Trims Stock Holdings in Agilysys, Inc. $AGYS

Lazard Asset Management LLC lowered its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 31.6% during the first quarter, Holdings Channel reports. The fund owned 17,833 shares of the software maker’s stock after selling 8,251 shares during the quarter. Lazard Asset Management LLC’s holdings in Agilysys were worth $1,269,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in AGYS. B. Metzler seel. Sohn & Co. AG acquired a new stake in shares of Agilysys during the 4th quarter worth about $2,622,000. State of New Jersey Common Pension Fund D acquired a new position in shares of Agilysys in the fourth quarter valued at approximately $2,081,000. Vanguard Group Inc. lifted its stake in shares of Agilysys by 1.3% during the fourth quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock valued at $286,160,000 after buying an additional 32,052 shares during the period. Jennison Associates LLC lifted its stake in shares of Agilysys by 20.7% during the fourth quarter. Jennison Associates LLC now owns 221,791 shares of the software maker’s stock valued at $26,358,000 after buying an additional 38,007 shares during the period. Finally, William Blair Investment Management LLC boosted its position in Agilysys by 1.1% during the fourth quarter. William Blair Investment Management LLC now owns 572,600 shares of the software maker’s stock worth $68,048,000 after acquiring an additional 6,378 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Zacks Research cut shares of Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings upgraded Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. Oppenheimer reaffirmed an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a research report on Tuesday, July 28th. Finally, UBS Group set a $110.00 target price on Agilysys in a research report on Wednesday, June 3rd. Five investment 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 stock currently has a consensus rating of “Moderate Buy” and an average target price of $123.60.

Agilysys Trading Up 1.4%

Shares of Agilysys stock opened at $111.27 on Wednesday. Agilysys, Inc. has a twelve month low of $61.50 and a twelve month high of $145.25. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 73.69 and a beta of 0.37. The company has a fifty day moving average price of $98.69 and a 200 day moving average price of $84.63.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating the consensus estimate of $0.40 by $0.09. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The company had revenue of $87.68 million for the quarter, compared to analyst estimates of $85.97 million. During the same period last year, the company posted $0.33 earnings per share. The firm’s revenue was up 14.3% compared to the same quarter last year. Analysts forecast that Agilysys, Inc. will post 1.73 earnings per share for the current 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.