Summit Creek Advisors LLC Sells 13,877 Shares of Agilysys, Inc. $AGYS

Summit Creek Advisors LLC lowered its stake in Agilysys, Inc. (NASDAQ:AGYS) by 31.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 29,902 shares of the software maker’s stock after selling 13,877 shares during the period. Summit Creek Advisors LLC’s holdings in Agilysys were worth $2,903,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on AGYS shares. Needham & Company LLC boosted their target price on Agilysys from $135.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, October 27th. Oppenheimer restated an “outperform” rating and issued a $135.00 price target (up from $118.00) on shares of Agilysys in a research report on Tuesday, October 27th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Agilysys in a research note on Tuesday, July 28th. Zacks Research cut shares of Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Finally, Wall Street Zen raised shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Saturday, October 31st. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $141.25.

Insiders Place Their Bets

In related news, Director John Mutch sold 750 shares of the business’s stock in a transaction on Thursday, October 29th. The stock was sold at an average price of $114.96, for a total transaction of $86,220.00. Following the completion of the transaction, the director owned 31,627 shares in the company, valued at $3,635,839.92. The trade was a 2.32% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William Wood, III sold 961 shares of the company’s stock in a transaction on Monday, November 2nd. The shares were sold at an average price of $116.00, for a total value of $111,476.00. Following the completion of the transaction, the chief financial officer directly owned 35,872 shares in the company, valued at $4,161,152. This trade represents a 2.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 17,113 shares of company stock valued at $1,958,989 over the last quarter. 8.70% of the stock is currently owned by insiders.

Agilysys Price Performance

Shares of NASDAQ AGYS opened at $121.09 on Friday. The company has a market cap of $3.42 billion, a P/E ratio of 77.62, a PEG ratio of 3.30 and a beta of 0.40. Agilysys, Inc. has a 1 year low of $61.50 and a 1 year high of $133.32. The firm has a 50-day simple moving average of $108.97 and a two-hundred day simple moving average of $92.47.

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

Agilysys Profile

Agilysys, Inc develops and provides hospitality technology for hotels, resorts, casinos, cruise lines and other guest-focused businesses. Its software and services are designed to help operators manage core property functions, improve guest experiences and streamline food, beverage and retail operations.

The company’s product portfolio includes property-management systems, point-of-sale solutions, inventory and procurement tools, payment services, guest-facing applications, mobile ordering and resort-management software.