Agilysys, Inc. $AGYS Shares Sold by Sei Investments Co.

Key Points

• Sei Investments reduced its Agilysys stake by 17.5% in the first quarter, selling 20,667 shares and retaining 97,298 shares worth approximately $6.9 million. Institutional investors and hedge funds collectively own 88% of the company.
• Wall Street’s outlook remains generally positive, with five analysts rating Agilysys a Buy and three rating it a Hold. The stock has a “Moderate Buy” consensus rating and an average price target of $123.60.
• Agilysys reported quarterly earnings of $0.49 per share, beating estimates of $0.40, while revenue rose 14.3% year over year to $87.68 million. Shares opened at $109.68, up 4.3%.

Sei Investments Co. decreased its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 17.5% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 97,298 shares of the software maker's stock after selling 20,667 shares during the quarter. Sei Investments Co. owned about 0.35% of Agilysys worth $6,922,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its position in 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 acquiring an additional 172 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in Agilysys in the 4th quarter valued at about $34,000. Measured Wealth Private Client Group LLC acquired a new stake in Agilysys in the 3rd quarter valued at about $43,000. Advisors Asset Management Inc. lifted its stake in Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock worth $50,000 after purchasing an additional 159 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Agilysys by 71.3% during the 2nd quarter. Smartleaf Asset Management LLC now owns 632 shares of the software maker's stock worth $71,000 after purchasing an additional 263 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on AGYS. Zacks Research cut Agilysys from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Piper Sandler boosted their price objective on Agilysys from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. UBS Group set a $110.00 price objective on Agilysys in a research note on Wednesday, June 3rd. Oppenheimer restated an "outperform" rating and issued a $118.00 target price on shares of Agilysys in a report on Tuesday, July 28th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Agilysys in a research note on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Agilysys presently has an average rating of "Moderate Buy" and an average price target of $123.60.

Agilysys Stock Up 4.3%

Shares of NASDAQ AGYS opened at $109.68 on Tuesday. The business's 50 day moving average is $98.05 and its two-hundred day moving average is $84.64. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 72.64 and a beta of 0.37.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, topping the consensus estimate of $0.40 by $0.09. The business had revenue of $87.68 million during the quarter, compared to analyst estimates of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same period last year, the business posted $0.33 earnings per share. Analysts anticipate that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

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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