58,753 Shares in Agilysys, Inc. $AGYS Bought by Legal & General Group Plc

Legal & General Group Plc acquired a new position in Agilysys, Inc. (NASDAQ:AGYS) in the second quarter, HoldingsChannel reports. The institutional investor acquired 58,753 shares of the software maker’s stock, valued at approximately $6,140,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Caitong International Asset Management Co. Ltd lifted its position in shares of Agilysys by 419.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker’s stock worth $25,000 after buying an additional 172 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Agilysys during the 4th quarter valued at about $34,000. Measured Wealth Private Client Group LLC acquired a new stake in Agilysys during the third quarter worth about $43,000. Versant Capital Management Inc lifted its holdings in Agilysys by 123.9% in the second quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock worth $44,000 after acquiring an additional 233 shares during the last quarter. Finally, Optiver Holding B.V. boosted its stake in Agilysys by 700.0% in the first quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock valued at $32,000 after acquiring an additional 399 shares during the period. 88.00% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Kyle C. Badger sold 8,400 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the transaction, the senior vice president owned 75,037 shares of the company’s stock, valued at approximately $8,558,720.22. This represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Ramesh Srinivasan sold 106,205 shares of the firm’s stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $106.62, for a total value of $11,323,577.10. Following the transaction, the chief executive officer directly owned 635,044 shares in the company, valued at $67,708,391.28. This trade represents a 14.33% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 212,812 shares of company stock worth $23,046,675. Insiders own 8.70% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on AGYS shares. Piper Sandler increased their price target on Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 28th. Zacks Research downgraded Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Weiss Ratings upgraded Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, July 13th. Finally, Needham & Company LLC upped their price target on shares of Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $124.60.

Agilysys Trading Up 0.9%

Shares of NASDAQ AGYS opened at $113.51 on Thursday. The stock has a 50 day simple moving average of $109.02 and a 200-day simple moving average of $87.18. The company has a market cap of $3.20 billion, a PE ratio of 75.17 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 issued its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The business had revenue of $87.68 million during the quarter, compared to analyst estimates of $85.97 million. During the same period in the prior year, the company posted $0.33 EPS. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. Sell-side analysts forecast that Agilysys, Inc. will post 1.73 earnings per share for the current fiscal year.

Agilysys 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.