Advisors Capital Management LLC Takes $794,000 Position in Agilysys, Inc. (NASDAQ:AGYS)

Advisors Capital Management LLC purchased a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 6,026 shares of the software maker's stock, valued at approximately $794,000.

Other hedge funds have also recently modified their holdings of the company. Harbor Investment Advisory LLC lifted its position in 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 lifted its position in shares of Agilysys by 381.8% during the 4th 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 in the last quarter. Arcadia Investment Management Corp MI purchased a new position in shares of Agilysys during the 4th quarter valued at about $61,000. Assetmark Inc. bought a new position in shares of Agilysys during the 4th quarter valued at approximately $115,000. Finally, Huntington National Bank increased its holdings in Agilysys by 319.1% in the 4th quarter. Huntington National Bank now owns 922 shares of the software maker's stock worth $121,000 after acquiring an additional 702 shares in the last quarter. Institutional investors own 88.00% of the company's stock.

Insider Activity

In other news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $125.49, for a total value of $941,175.00. Following the completion of the sale, the director now owns 248,076 shares in the company, valued at approximately $31,131,057.24. This trade represents a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director John Mutch sold 750 shares of the company's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $75.33, for a total transaction of $56,497.50. Following the transaction, the director now owns 31,904 shares in the company, valued at $2,403,328.32. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,750 shares of company stock valued at $1,878,513. 19.30% of the stock is currently owned by insiders.

Agilysys Price Performance

NASDAQ AGYS traded up $0.81 during trading on Friday, hitting $69.45. 139,188 shares of the stock traded hands, compared to its average volume of 259,729. The firm has a 50-day simple moving average of $75.64 and a 200-day simple moving average of $103.96. Agilysys, Inc. has a 12-month low of $63.71 and a 12-month high of $142.64. The company has a market capitalization of $1.94 billion, a P/E ratio of 86.81 and a beta of 0.64. 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 (NASDAQ:AGYS - Get Free Report) last issued its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 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 business had revenue of $69.60 million during the quarter, compared to analysts' expectations of $73.15 million. During the same period last year, the company posted $0.35 EPS. The business's revenue was up 14.9% on a year-over-year basis. As a group, analysts predict that Agilysys, Inc. will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

AGYS has been the topic of several analyst reports. Craig Hallum lowered their price target on shares of Agilysys from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. Needham & Company LLC lowered their price objective on Agilysys from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. 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. UBS Group set a $100.00 price target on Agilysys in a research note on Wednesday, March 5th. Finally, Oppenheimer reduced their price objective on shares of Agilysys from $135.00 to $90.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Agilysys currently has an average rating of "Moderate Buy" and an average price target of $120.00.

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.