Ramesh Srinivasan Sells 25,000 Shares of Agilysys (NASDAQ:AGYS) Stock

Agilysys, Inc. (NASDAQ:AGYS) CEO Ramesh Srinivasan sold 25,000 shares of the company’s stock in a transaction dated Friday, August 7th. The stock was sold at an average price of $108.15, for a total value of $2,703,750.00. Following the completion of the sale, the chief executive officer owned 610,044 shares in the company, 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 Securities & Exchange Commission, which is available at this hyperlink.

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

• On Thursday, August 6th, Ramesh Srinivasan sold 106,205 shares of Agilysys stock. The shares were sold at an average price of $106.62, for a total value of $11,323,577.10.
• 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 Trading Up 0.9%

Shares of NASDAQ:AGYS opened at $108.58 on Friday. Agilysys, Inc. has a 12-month low of $61.50 and a 12-month high of $145.25. The business has a 50 day moving average of $100.26 and a two-hundred day moving average of $84.73. The company has a market capitalization of $3.06 billion, a PE ratio of 71.91 and a beta of 0.37.

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

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Piper Sandler raised their price target on shares of Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Tuesday, July 28th. Needham & Company LLC upped their price objective on shares of Agilysys from $120.00 to $130.00 and gave the stock a “buy” rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Agilysys in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $123.60.

Institutional Investors Weigh In On Agilysys

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new position in Agilysys in the 2nd quarter valued at about $431,704,000. Capital Research Global Investors purchased a new stake in Agilysys during the 4th quarter worth approximately $104,878,000. Wellington Management Group LLP increased its stake in Agilysys by 75.9% during the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock worth $72,675,000 after buying an additional 297,846 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Agilysys by 33.0% during the first 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 during the last quarter. Finally, Deutsche Bank AG acquired a new position in shares of Agilysys during the second quarter valued at approximately $21,593,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

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.