Principal Financial Group Inc. Buys 2,949 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Principal Financial Group Inc. lifted its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 2.6% in the third quarter, according to its most recent filing with the SEC. The fund owned 115,901 shares of the software maker’s stock after acquiring an additional 2,949 shares during the period. Principal Financial Group Inc. owned approximately 0.41% of Agilysys worth $12,630,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Agilysys during the 2nd quarter valued at about $1,847,000. UniSuper Management Pty Ltd bought a new stake in Agilysys in the 1st quarter worth approximately $388,000. Price T Rowe Associates Inc. MD boosted its stake in Agilysys by 5.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock worth $33,970,000 after buying an additional 20,703 shares in the last quarter. Finally, Natixis Advisors LLC bought a new position in Agilysys during the second quarter valued at approximately $1,111,000. 88.00% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. Northland Securities restated an “outperform” rating and issued a $145.00 price objective (up from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. Needham & Company LLC lifted their target price on shares of Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Craig Hallum lifted their price objective on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Finally, BTIG Research boosted their target price on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Agilysys has a consensus rating of “Moderate Buy” and an average price target of $134.80.

Agilysys Price Performance

Shares of Agilysys stock opened at $121.19 on Friday. The company’s fifty day simple moving average is $110.04 and its two-hundred day simple moving average is $104.20. Agilysys, Inc. has a 12-month low of $73.52 and a 12-month high of $128.61. The firm has a market cap of $3.39 billion, a PE ratio of 34.53 and a beta of 0.85. The company has a quick ratio of 1.07, a current ratio of 1.13 and a debt-to-equity ratio of 0.19.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company had revenue of $68.30 million during the quarter, compared to analyst estimates of $67.54 million. During the same period in the prior year, the business posted $0.25 earnings per share. Agilysys’s revenue for the quarter was up 16.6% on a year-over-year basis. As a group, equities analysts expect that Agilysys, Inc. will post 0.81 EPS for the current year.

Insider Transactions at Agilysys

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. This trade represents a 1.27 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Chris J. Robertson sold 264 shares of Agilysys stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $26,627.04. Following the sale, the insider now directly owns 22,624 shares in the company, valued at approximately $2,281,856.64. The trade was a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,023 shares of company stock worth $4,548,979. 19.30% of the stock is currently owned by insiders.

About Agilysys

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.