Wasatch Advisors LP Decreases Stake in Agilysys, Inc. (NASDAQ:AGYS)

Wasatch Advisors LP trimmed its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 8.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 896,204 shares of the software maker’s stock after selling 80,196 shares during the quarter. Wasatch Advisors LP’s holdings in Agilysys were worth $118,039,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Harbor Investment Advisory LLC boosted its position in shares of Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after purchasing an additional 193 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Agilysys by 381.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after buying an additional 336 shares during the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Agilysys in the fourth quarter worth approximately $61,000. Assetmark Inc. bought a new stake in Agilysys in the 4th quarter worth approximately $115,000. Finally, Huntington National Bank grew its holdings in shares of Agilysys by 319.1% in the fourth quarter. Huntington National Bank now owns 922 shares of the software maker’s stock worth $121,000 after acquiring an additional 702 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Trading Down 1.0 %

Shares of NASDAQ:AGYS opened at $68.45 on Wednesday. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. Agilysys, Inc. has a 52-week low of $63.71 and a 52-week high of $142.64. The business has a 50-day moving average price of $76.61 and a 200-day moving average price of $104.76. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of 85.56 and a beta of 0.64.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The firm had revenue of $69.60 million for the quarter, compared to the consensus estimate of $73.15 million. During the same period in the prior year, the firm posted $0.35 earnings per share. The firm’s quarterly revenue was up 14.9% compared to the same quarter last year. Equities analysts predict that Agilysys, Inc. will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Northland Securities upped their price objective on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 7th. Craig Hallum reduced their price objective on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating on the stock in a research report on Wednesday, January 22nd. Oppenheimer dropped their price target on Agilysys from $135.00 to $90.00 and set an “outperform” rating for the company in a research note on Wednesday, April 9th. UBS Group set a $100.00 price objective on shares of Agilysys in a research report on Wednesday, March 5th. Finally, Needham & Company LLC dropped their target price on Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, March 5th. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $120.00.

Insider Activity at Agilysys

In other Agilysys news, Director John Mutch sold 750 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $75.33, for a total value of $56,497.50. Following the sale, the director now owns 31,904 shares of the company’s stock, valued at $2,403,328.32. The trade was a 2.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction dated Tuesday, January 21st. The stock was sold at an average price of $125.49, for a total transaction of $941,175.00. Following the sale, the director now directly owns 248,076 shares in the company, valued at $31,131,057.24. This represents a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 25,250 shares of company stock valued at $2,839,788. 19.30% of the stock is owned by insiders.

Agilysys Profile

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.