Agilysys, Inc. $AGYS Shares Bought by Fifth Third Bancorp

Key Points

• Fifth Third Bancorp boosted its Agilysys stake by 1,447% in the first quarter, buying 71,813 additional shares and bringing its holdings to 76,776 shares worth about $5.46 million.
• Several other institutional investors also increased or initiated positions, and hedge funds and institutions now own about 88% of Agilysys shares.
• Analyst sentiment remains positive, with a Moderate Buy consensus and a $116 average price target; the stock recently traded at $106.68 after Agilysys beat quarterly EPS and revenue estimates.

Fifth Third Bancorp increased its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 1,447.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 76,776 shares of the software maker's stock after acquiring an additional 71,813 shares during the quarter. Fifth Third Bancorp owned approximately 0.27% of Agilysys worth $5,462,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC increased its position in shares of Agilysys by 671.2% during the fourth quarter. SG Americas Securities LLC now owns 19,009 shares of the software maker's stock valued at $2,259,000 after acquiring an additional 16,544 shares during the last quarter. B. Metzler seel. Sohn & Co. AG purchased a new stake in Agilysys in the fourth quarter valued at approximately $2,622,000. Vanguard Group Inc. raised its position in Agilysys by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker's stock valued at $286,160,000 after purchasing an additional 32,052 shares during the period. Jennison Associates LLC lifted its stake in Agilysys by 20.7% during the fourth quarter. Jennison Associates LLC now owns 221,791 shares of the software maker's stock worth $26,358,000 after purchasing an additional 38,007 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D acquired a new position in Agilysys during the fourth quarter worth $2,081,000. Hedge funds and other institutional investors own 88.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on AGYS shares. Weiss Ratings raised shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday. Oppenheimer lifted their price objective on shares of Agilysys from $90.00 to $100.00 and gave the company an "outperform" rating in a report on Tuesday, May 19th. UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday, June 3rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Agilysys in a report on Wednesday, June 17th. Finally, Zacks Research raised shares of Agilysys from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, June 3rd. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Agilysys currently has a consensus rating of "Moderate Buy" and a consensus target price of $116.00.

Agilysys Stock Down 3.0%

Shares of NASDAQ:AGYS opened at $106.68 on Friday. Agilysys, Inc. has a 52 week low of $61.50 and a 52 week high of $145.25. The company has a 50-day moving average price of $91.24 and a 200 day moving average price of $85.93. The company has a market cap of $3.01 billion, a P/E ratio of 78.44 and a beta of 0.37.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued its earnings results on Monday, May 18th. The software maker reported $0.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.51 by $0.12. The business had revenue of $82.95 million during the quarter, compared to the consensus estimate of $81.56 million. Agilysys had a return on equity of 11.07% and a net margin of 12.15%.The company's revenue for the quarter was up 11.7% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. Analysts expect that Agilysys, Inc. will post 1.77 EPS for the current year.

About Agilysys

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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