Agilysys, Inc. $AGYS Shares Sold by Conestoga Capital Advisors LLC

Key Points

• Conestoga Capital Advisors cut its Agilysys position by 19.1% in the third quarter, selling 91,260 shares; it retained 385,294 shares valued at about $37.4 million.
• Agilysys beat quarterly expectations, reporting EPS of $0.67 versus $0.55 expected and revenue of $93.36 million, up 17.7% year over year.
• Analysts have a “Moderate Buy” consensus and an average price target of $141.25. Company insiders sold 42,113 shares worth about $4.66 million over the past 90 days.

Conestoga Capital Advisors LLC trimmed its position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 19.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 385,294 shares of the software maker's stock after selling 91,260 shares during the period. Conestoga Capital Advisors LLC owned about 1.37% of Agilysys worth $37,404,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Covestor Ltd boosted its stake in shares of Agilysys by 511.8% in the third quarter. Covestor Ltd now owns 673 shares of the software maker's stock worth $65,000 after acquiring an additional 563 shares during the last quarter. Pinnacle Wealth Planning Services Inc. increased its position in shares of Agilysys by 36.0% during the third quarter. Pinnacle Wealth Planning Services Inc. now owns 393 shares of the software maker's stock worth $38,000 after purchasing an additional 104 shares in the last quarter. Park Avenue Securities LLC raised its stake in Agilysys by 39.6% in the 3rd quarter. Park Avenue Securities LLC now owns 4,948 shares of the software maker's stock valued at $480,000 after purchasing an additional 1,403 shares during the last quarter. Sterling Capital Management LLC raised its stake in Agilysys by 834.4% in the 3rd quarter. Sterling Capital Management LLC now owns 869 shares of the software maker's stock valued at $84,000 after purchasing an additional 776 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in Agilysys by 124.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,494 shares of the software maker's stock valued at $145,000 after purchasing an additional 828 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

AGYS has been the topic of several recent research reports. UBS Group set a $145.00 target price on shares of Agilysys in a research note on Tuesday, October 27th. Weiss Ratings upgraded shares of Agilysys from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, October 30th. Oppenheimer reiterated an "outperform" rating and issued a $135.00 target price (up from $118.00) on shares of Agilysys in a research report on Tuesday, October 27th. Piper Sandler raised their price target on shares of Agilysys from $120.00 to $140.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 27th. Finally, Needham & Company LLC boosted their price target on shares of Agilysys from $135.00 to $145.00 and gave the stock a "buy" rating in a research report on Tuesday, October 27th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.25.

Agilysys Price Performance

Shares of AGYS opened at $122.28 on Thursday. The firm has a 50-day simple moving average of $108.86 and a two-hundred day simple moving average of $92.37. Agilysys, Inc. has a 1-year low of $61.50 and a 1-year high of $133.32. The stock has a market cap of $3.45 billion, a PE ratio of 78.86, a P/E/G ratio of 3.27 and a beta of 0.40.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The software maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.55 by $0.12. Agilysys had a net margin of 12.88% and a return on equity of 12.98%. The business had revenue of $93.36 million during the quarter, compared to analyst estimates of $90.92 million. During the same quarter last year, the firm posted $0.41 earnings per share. The business's revenue for the quarter was up 17.7% compared to the same quarter last year. As a group, sell-side analysts expect that Agilysys, Inc. will post 1.83 earnings per share for the current fiscal year.

Insider Buying and Selling at Agilysys

In related news, CEO Ramesh Srinivasan sold 25,000 shares of Agilysys stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $108.15, for a total value of $2,703,750.00. Following the completion of the transaction, the chief executive officer owned 610,044 shares in the company, valued at $65,976,258.60. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Mutch sold 750 shares of the business's stock in a transaction that occurred 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 transaction, the director owned 31,627 shares of the company's stock, valued at $3,635,839.92. This trade represents a 2.32% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 42,113 shares of company stock valued at $4,662,739. 8.70% of the stock is currently owned by company insiders.

About Agilysys

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.

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