Agilysys, Inc. $AGYS Stake Lowered by Riverbridge Partners LLC

Riverbridge Partners LLC lowered its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 8.3% during the third quarter, Holdings Channel reports. The institutional investor owned 164,746 shares of the software maker’s stock after selling 14,827 shares during the period. Riverbridge Partners LLC’s holdings in Agilysys were worth $15,994,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGYS. BlackRock Inc. acquired a new position in Agilysys during the second quarter worth about $431,704,000. Nine Ten Capital Management LLC lifted its position in shares of Agilysys by 0.3% during the 2nd quarter. Nine Ten Capital Management LLC now owns 655,513 shares of the software maker’s stock valued at $68,501,000 after acquiring an additional 1,922 shares during the period. Principal Financial Group Inc. lifted its position in shares of Agilysys by 0.6% during the 1st quarter. Principal Financial Group Inc. now owns 463,682 shares of the software maker’s stock valued at $32,986,000 after acquiring an additional 2,983 shares during the period. William Blair Investment Management LLC purchased a new stake in shares of Agilysys during the 2nd quarter worth approximately $45,312,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Agilysys by 38.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 377,038 shares of the software maker’s stock worth $26,825,000 after acquiring an additional 103,752 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Trading Up 0.2%

Shares of NASDAQ AGYS opened at $124.15 on Wednesday. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of 81.53, a PEG ratio of 3.38 and a beta of 0.40. Agilysys, Inc. has a 52 week low of $61.50 and a 52 week high of $133.32. The company’s 50-day moving average price is $109.25 and its 200 day moving average price is $92.63.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Monday, October 26th. The software maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.12. The firm had revenue of $93.36 million during the quarter, compared to the consensus estimate of $90.92 million. Agilysys had a net margin of 12.88% and a return on equity of 12.98%. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. During the same period last year, the firm posted $0.41 EPS. As a group, research analysts expect that Agilysys, Inc. will post 1.83 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on AGYS. UBS Group set a $145.00 price target on Agilysys in a report on Tuesday, October 27th. Wall Street Zen raised Agilysys from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a report on Monday, July 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Finally, Piper Sandler boosted their target price on Agilysys from $120.00 to $140.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 27th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $141.25.

Insider Buying and Selling at Agilysys

In other news, insider Joe Youssef sold 1,002 shares of the stock in a transaction that occurred on Tuesday, September 1st. The shares were sold at an average price of $114.64, for a total value of $114,869.28. Following the sale, the insider directly owned 19,045 shares in the company, valued at $2,183,318.80. This represents a 5.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kyle Badger sold 8,400 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.06, for a total transaction of $958,104.00. Following the transaction, the senior vice president directly owned 75,037 shares of the company’s stock, valued at approximately $8,558,720.22. This trade represents a 10.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 17,113 shares of company stock valued at $1,958,989 over the last three months. Company insiders own 8.70% of the company’s stock.

About Agilysys

Agilysys, Inc. develops software and technology solutions for the hospitality industry. Its products support hotels, resorts, casinos, restaurants, cruise lines, and other organizations that serve guests. The company’s offerings include property management and point-of-sale systems, as well as tools for inventory and procurement, guest engagement, payments, and operational analytics. Agilysys also provides implementation, support, and other services related to its software. Founded in 1963, Agilysys is headquartered in Alpharetta, Georgia, and serves hospitality businesses in North America and international markets.