Agilysys, Inc. (NASDAQ:AGYS) Short Interest Down 22.2% in March

Key Points

• Short interest fell 22.2% in March to 945,590 shares (about 3.7% of shares sold short), with a days-to-cover ratio of 3.4.
• Agilysys reported Q4 EPS of $0.42, missing estimates by $0.04, while revenue of $80.39 million beat expectations and rose 15.6% year-over-year.
• The stock trades around $65.17, below its 50-day ($74.12) and 200-day ($101.70) moving averages with a market cap of $1.83 billion; analysts' consensus is a "Moderate Buy" with an average target of $131.40.

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totaling 945,590 shares, a drop of 22.2% from the March 15th total of 1,215,049 shares. Based on an average trading volume of 276,443 shares, the days-to-cover ratio is currently 3.4 days. Approximately 3.7% of the shares of the company are sold short.

Agilysys Price Performance

AGYS stock opened at $65.17 on Wednesday. The business has a fifty day moving average price of $74.12 and a 200 day moving average price of $101.70. Agilysys has a fifty-two week low of $61.50 and a fifty-two week high of $145.25. The stock has a market capitalization of $1.83 billion, a price-to-earnings ratio of 60.91 and a beta of 0.43.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.46 by ($0.04). The business had revenue of $80.39 million for the quarter, compared to analyst estimates of $79.07 million. Agilysys had a net margin of 9.79% and a return on equity of 10.71%. The company's revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.38 earnings per share. On average, equities analysts expect that Agilysys will post 0.8 earnings per share for the current fiscal year.

Insider Activity at Agilysys

In other news, Director Melvin L. Keating acquired 300 shares of Agilysys stock in a transaction on Tuesday, February 3rd. The stock was bought at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the transaction, the director owned 35,007 shares of the company's stock, valued at $2,927,285.34. The trade was a 0.86% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. In the last ninety days, insiders purchased 1,000 shares of company stock valued at $77,669. 8.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of AGYS. Caitong International Asset Management Co. Ltd grew its stake in shares of Agilysys by 419.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker's stock worth $25,000 after purchasing an additional 172 shares during the period. Global Retirement Partners LLC grew its stake in shares of Agilysys by 118.5% during the third quarter. Global Retirement Partners LLC now owns 260 shares of the software maker's stock worth $27,000 after purchasing an additional 141 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Agilysys during the fourth quarter worth $34,000. Farther Finance Advisors LLC lifted its holdings in Agilysys by 215.5% during the third quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker's stock worth $39,000 after acquiring an additional 250 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC bought a new position in Agilysys during the third quarter worth about $43,000. 88.00% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on AGYS. Wall Street Zen cut Agilysys from a "buy" rating to a "hold" rating in a report on Saturday, January 31st. BTIG Research began coverage on Agilysys in a report on Tuesday, December 16th. They issued a "neutral" rating for the company. Zacks Research raised Agilysys from a "strong sell" rating to a "hold" rating in a report on Thursday, February 26th. Weiss Ratings reissued a "hold (c)" rating on shares of Agilysys in a report on Wednesday, January 21st. Finally, Needham & Company LLC dropped their target price on Agilysys from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $131.40.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company NASDAQ: AGYS that specializes in providing software and services to the hospitality industry. The company's solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.

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