Oppenheimer Asset Management Inc. Takes Position in Agilysys, Inc. $AGYS

Oppenheimer Asset Management Inc. acquired a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 19,450 shares of the software maker’s stock, valued at approximately $2,033,000.

Several other large investors also recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd raised its position in Agilysys by 419.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock worth $25,000 after buying an additional 172 shares during the last quarter. Optiver Holding B.V. boosted its holdings in shares of Agilysys by 700.0% during the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock valued at $32,000 after acquiring an additional 399 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Agilysys in the fourth quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Agilysys in the third quarter worth approximately $43,000. Finally, Versant Capital Management Inc raised its holdings in shares of Agilysys by 123.9% during the second quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock valued at $44,000 after purchasing an additional 233 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.

Insider Activity

In other news, CEO Ramesh Srinivasan sold 25,000 shares of the business’s stock in a transaction on Friday, August 7th. The shares were sold at an average price of $108.15, for a total transaction of $2,703,750.00. Following the completion of the sale, the chief executive officer owned 610,044 shares of the company’s stock, valued at $65,976,258.60. The trade was a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Over the last ninety days, insiders have sold 197,410 shares of company stock worth $21,285,381. Insiders own 8.70% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AGYS. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Piper Sandler boosted their target price on shares of Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday, June 3rd. Finally, Oppenheimer reissued an “outperform” rating and set a $118.00 price target on shares of Agilysys in a report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Agilysys currently has a consensus rating of “Moderate Buy” and a consensus target price of $124.60.

Agilysys Stock Performance

Shares of NASDAQ AGYS opened at $114.00 on Monday. The firm has a 50 day moving average of $102.27 and a 200 day moving average of $84.56. The firm has a market capitalization of $3.22 billion, a price-to-earnings ratio of 75.50 and a beta of 0.37. Agilysys, Inc. has a 12-month low of $61.50 and a 12-month high of $145.25.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating 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 period in the prior year, the company earned $0.33 earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. Sell-side analysts predict that Agilysys, Inc. will post 1.73 EPS for the current year.

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.