Agilysys, Inc. $AGYS Shares Sold by Janus Henderson Group PLC

Key Points

• Janus Henderson Group reduced its Agilysys stake by 81.9% in the first quarter, selling 53,926 shares and retaining 11,910 shares valued at approximately $848,000. Institutional investors and hedge funds collectively own 88% of AGYS.
• Agilysys insiders have also been selling shares: CEO Ramesh Srinivasan sold 106,205 shares worth about $11.3 million, while insiders sold roughly $21.3 million of stock over the past 90 days.
• Despite the selling, analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $124.60. The company recently exceeded quarterly earnings and revenue expectations, reporting $0.49 EPS and $87.68 million in revenue.

Janus Henderson Group PLC lessened its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 81.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,910 shares of the software maker's stock after selling 53,926 shares during the period. Janus Henderson Group PLC's holdings in Agilysys were worth $848,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in AGYS. Caitong International Asset Management Co. Ltd lifted its stake in shares of Agilysys by 419.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker's stock valued at $25,000 after purchasing an additional 172 shares in the last quarter. Los Angeles Capital Management LLC purchased a new position in Agilysys in the fourth quarter valued at approximately $34,000. Measured Wealth Private Client Group LLC purchased a new position in Agilysys in the third quarter valued at approximately $43,000. Advisors Asset Management Inc. lifted its position in Agilysys by 30.1% during the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock valued at $50,000 after buying an additional 159 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its position in Agilysys by 71.3% during the second quarter. Smartleaf Asset Management LLC now owns 632 shares of the software maker's stock valued at $71,000 after buying an additional 263 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Agilysys

In related news, CEO Ramesh Srinivasan sold 106,205 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $106.62, for a total value of $11,323,577.10. Following the completion of the transaction, the chief executive officer owned 635,044 shares of the company's stock, valued at approximately $67,708,391.28. This represents a 14.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders sold a total of 197,410 shares of company stock valued at $21,285,381 in the last 90 days. Insiders own 8.70% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on AGYS. Weiss Ratings raised shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 13th. UBS Group set a $110.00 price target on shares of Agilysys in a research report on Wednesday, June 3rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Oppenheimer reissued an "outperform" rating and issued a $118.00 price objective on shares of Agilysys in a research report on Tuesday, July 28th. Finally, Zacks Research cut Agilysys from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $124.60.

Agilysys Price Performance

Shares of AGYS stock opened at $106.98 on Tuesday. Agilysys, Inc. has a 12 month low of $61.50 and a 12 month high of $145.25. The firm has a market capitalization of $3.02 billion, a P/E ratio of 70.85 and a beta of 0.37. The company's fifty day moving average price is $100.53 and its two-hundred day moving average price is $84.52.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. The company had revenue of $87.68 million during the quarter, compared to analysts' expectations of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.33 EPS. On average, sell-side analysts anticipate that Agilysys, Inc. will post 1.73 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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