Navellier & Associates Inc. Boosts Stake in Agilysys, Inc. (NASDAQ:AGYS)

Navellier & Associates Inc. lifted its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 64.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 5,410 shares of the software maker’s stock after purchasing an additional 2,126 shares during the quarter. Navellier & Associates Inc.’s holdings in Agilysys were worth $713,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Lord Abbett & CO. LLC lifted its position in Agilysys by 47.4% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock worth $115,383,000 after acquiring an additional 340,424 shares during the period. State Street Corp raised its stake in shares of Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after purchasing an additional 43,760 shares during the last quarter. Geneva Capital Management LLC lifted its holdings in shares of Agilysys by 0.4% during the third quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock worth $73,597,000 after purchasing an additional 2,687 shares during the period. Geode Capital Management LLC boosted its position in Agilysys by 6.2% in the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after buying an additional 30,655 shares during the last quarter. Finally, FMR LLC increased its holdings in Agilysys by 1,197.1% in the 3rd quarter. FMR LLC now owns 505,690 shares of the software maker’s stock worth $55,105,000 after buying an additional 466,704 shares during the period. 88.00% of the stock is owned by hedge funds and other institutional investors.

Agilysys Stock Down 4.2 %

AGYS opened at $77.54 on Friday. The company has a fifty day moving average of $111.97 and a two-hundred day moving average of $113.66. The stock has a market capitalization of $2.17 billion, a price-to-earnings ratio of 96.93 and a beta of 0.93. Agilysys, Inc. has a fifty-two week low of $74.03 and a fifty-two week high of $142.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 1.14.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The firm had revenue of $69.60 million during the quarter, compared to analyst estimates of $73.15 million. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. Agilysys’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.35 EPS. On average, research analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on AGYS shares. Northland Securities lifted their price objective on shares of Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research note on Tuesday, January 7th. Oppenheimer decreased their target price on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Craig Hallum cut their price target on Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, BTIG Research upped their target price on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $138.00.

Insider Activity

In related news, CFO William David Wood III sold 1,870 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $134.01, for a total value of $250,598.70. Following the transaction, the chief financial officer now directly owns 47,609 shares of the company’s stock, valued at approximately $6,380,082.09. This trade represents a 3.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $130.55, for a total value of $979,125.00. Following the sale, the director now owns 330,576 shares of the company’s stock, valued at approximately $43,156,696.80. This trade represents a 2.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 70,599 shares of company stock worth $8,913,222 over the last three months. 19.30% of the stock is currently owned by corporate insiders.

Agilysys Company Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.