Punch & Associates Investment Management Inc. trimmed its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 12.6% in the first quarter, Holdings Channel reports. The institutional investor owned 448,310 shares of the software maker’s stock after selling 64,523 shares during the period. Punch & Associates Investment Management Inc.’s holdings in Agilysys were worth $9,491,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Quantamental Technologies LLC acquired a new stake in shares of Agilysys during the first quarter valued at about $28,000. Federated Investors Inc. PA acquired a new stake in shares of Agilysys during the first quarter valued at about $37,000. LS Investment Advisors LLC acquired a new stake in shares of Agilysys during the fourth quarter valued at about $45,000. BNP Paribas Arbitrage SA grew its stake in shares of Agilysys by 1,508.0% during the first quarter. BNP Paribas Arbitrage SA now owns 3,232 shares of the software maker’s stock valued at $68,000 after acquiring an additional 3,031 shares in the last quarter. Finally, Municipal Employees Retirement System of Michigan acquired a new stake in shares of Agilysys during the fourth quarter valued at about $72,000. Hedge funds and other institutional investors own 77.65% of the company’s stock.
Shares of AGYS stock traded down $0.02 during trading hours on Friday, hitting $22.39. 217 shares of the company were exchanged, compared to its average volume of 95,968. Agilysys, Inc. has a one year low of $13.32 and a one year high of $22.94. The stock has a market capitalization of $523.23 million, a price-to-earnings ratio of -39.40 and a beta of 0.36.
In other news, major shareholder Bermuda One Fund Llc sold 4,000 shares of the stock in a transaction dated Tuesday, March 26th. The shares were sold at an average price of $20.78, for a total transaction of $83,120.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have sold 382,251 shares of company stock worth $7,893,527 in the last ninety days. Corporate insiders own 26.80% of the company’s stock.
AGYS has been the subject of several recent analyst reports. Maxim Group set a $25.00 target price on Agilysys and gave the company a “buy” rating in a research note on Friday, May 17th. Zacks Investment Research downgraded Agilysys from a “hold” rating to a “sell” rating in a research note on Thursday, June 6th. Northland Securities initiated coverage on Agilysys in a research note on Friday, March 29th. They set an “outperform” rating and a $26.00 target price for the company. Finally, BidaskClub upgraded Agilysys from a “sell” rating to a “hold” rating in a research note on Saturday, April 13th. One analyst has rated the stock with a sell rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $25.50.
Agilysys Company Profile
Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. The company offers point-of-sale, property management, reservation and table management, inventory and procurement, workforce management, analytics, document management, and mobile and wireless solutions to streamline operations, and enhance efficiency and guest experience.
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