Agilysys (NASDAQ:AGYS) CEO Ramesh Srinivasan Sells 106,205 Shares

Agilysys, Inc. (NASDAQ:AGYS) CEO Ramesh Srinivasan sold 106,205 shares of Agilysys stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $106.62, for a total value of $11,323,577.10. Following the completion of the sale, the chief executive officer directly owned 635,044 shares of the company’s stock, valued at approximately $67,708,391.28. The trade was a 14.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Ramesh Srinivasan also recently made the following trade(s):

• On Friday, August 7th, Ramesh Srinivasan sold 25,000 shares of Agilysys stock. The stock was sold at an average price of $108.15, for a total value of $2,703,750.00.
• On Wednesday, August 5th, Ramesh Srinivasan sold 66,205 shares of Agilysys stock. The shares were sold at an average price of $109.63, for a total value of $7,258,054.15.

Agilysys Price Performance

Shares of Agilysys stock traded up $1.00 during trading on Friday, hitting $108.58. 218,936 shares of the company’s stock traded hands, compared to its average volume of 352,480. Agilysys, Inc. has a 1 year low of $61.50 and a 1 year high of $145.25. The stock has a market capitalization of $3.06 billion, a P/E ratio of 71.91 and a beta of 0.37. The business has a 50-day simple moving average of $99.82 and a 200-day simple moving average of $84.56.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. The business had revenue of $87.68 million during the quarter, compared to analyst estimates of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.Agilysys’s revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 EPS. On average, equities analysts predict that Agilysys, Inc. will post 1.73 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on AGYS. Cantor Fitzgerald reissued an “overweight” rating on shares of Agilysys in a report on Tuesday, July 28th. UBS Group set a $110.00 target price on shares of Agilysys in a report on Wednesday, June 3rd. Zacks Research downgraded shares of Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Finally, Piper Sandler increased their price target on Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $123.60.

Institutional Trading of Agilysys

Several large investors have recently added to or reduced their stakes in the business. BlackRock Inc. purchased a new stake in Agilysys during the second quarter valued at approximately $431,704,000. Vanguard Group Inc. raised its position in Agilysys by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock worth $286,160,000 after acquiring an additional 32,052 shares during the period. Wasatch Advisors LP boosted its stake in shares of Agilysys by 5.3% during the 2nd quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock worth $115,204,000 after acquiring an additional 50,536 shares during the last quarter. State Street Corp grew its position in shares of Agilysys by 0.5% during the 4th quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock valued at $119,204,000 after acquiring an additional 4,516 shares during the period. Finally, Capital Research Global Investors bought a new stake in shares of Agilysys during the 4th quarter valued at $104,878,000. 88.00% of the stock is currently owned by institutional investors.

About Agilysys

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.