The Manufacturers Life Insurance Company Invests $1.42 Million in Agilysys, Inc. $AGYS

The Manufacturers Life Insurance Company acquired a new stake in Agilysys, Inc. (NASDAQ:AGYS) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 13,586 shares of the software maker’s stock, valued at approximately $1,420,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. acquired a new stake in Agilysys in the second quarter valued at $431,704,000. Capital Research Global Investors purchased a new stake in shares of Agilysys in the 4th quarter worth about $104,878,000. William Blair Investment Management LLC purchased a new stake in shares of Agilysys in the 2nd quarter worth about $45,312,000. Wellington Management Group LLP grew its stake in Agilysys by 75.9% in the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock valued at $72,675,000 after acquiring an additional 297,846 shares during the last quarter. Finally, Wasatch Advisors LP increased its holdings in Agilysys by 33.0% during the 1st quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker’s stock valued at $67,848,000 after acquiring an additional 236,373 shares in the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Agilysys news, insider Joe Ahmed Youssef Abdelrahman sold 1,002 shares of the firm’s stock in a transaction dated Tuesday, September 1st. The stock was sold at an average price of $114.64, for a total value of $114,869.28. Following the sale, the insider directly owned 19,045 shares of the company’s stock, valued at approximately $2,183,318.80. This trade represents a 5.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Kyle C. Badger sold 8,400 shares of Agilysys stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the sale, the senior vice president owned 75,037 shares of the company’s stock, valued at $8,558,720.22. This trade represents a 10.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 212,812 shares of company stock worth $23,046,675 in the last three months. Company insiders own 8.70% of the company’s stock.

Agilysys Price Performance

Shares of NASDAQ AGYS opened at $114.15 on Friday. The company has a 50-day simple moving average of $109.35 and a 200-day simple moving average of $87.41. The company has a market cap of $3.22 billion, a PE ratio of 75.60 and a beta of 0.38. Agilysys, Inc. has a 12 month low of $61.50 and a 12 month high of $145.25.

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

Analysts Set New Price Targets

Several brokerages have issued reports on AGYS. UBS Group set a $110.00 price target on shares of Agilysys in a report on Wednesday, June 3rd. Piper Sandler lifted their price objective on Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research note on Tuesday, July 28th. Needham & Company LLC increased their target price on Agilysys from $130.00 to $135.00 and gave the company a “buy” rating in a report on Monday, August 10th. Finally, Weiss Ratings raised Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $124.60.

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.