Agilysys, Inc. $AGYS Stock Sold by Penn Capital Management Company LLC

Key Points

• Penn Capital cut its Agilysys stake by 17.9%, selling 41,432 shares in the third quarter; it still held 189,805 shares valued at about $18.46 million.
• Agilysys reported quarterly EPS of $0.67, beating the $0.55 consensus estimate, while revenue rose 17.7% year over year to $93.36 million.
• Analysts’ consensus rating was Moderate Buy, with an average price target of $141.25; five analysts rated the stock Buy and three rated it Hold.

Penn Capital Management Company LLC decreased its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 17.9% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,805 shares of the software maker's stock after selling 41,432 shares during the quarter. Agilysys comprises about 1.3% of Penn Capital Management Company LLC's portfolio, making the stock its 26th biggest holding. Penn Capital Management Company LLC owned approximately 0.67% of Agilysys worth $18,460,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of AGYS. Optiver Holding B.V. grew its stake in Agilysys by 700.0% during the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker's stock valued at $32,000 after acquiring an additional 399 shares in the last quarter. Pinnacle Wealth Planning Services Inc. lifted its stake in Agilysys by 36.0% in the 3rd 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. Versant Capital Management Inc boosted its holdings in shares of Agilysys by 123.9% during the 2nd quarter. Versant Capital Management Inc now owns 421 shares of the software maker's stock worth $44,000 after purchasing an additional 233 shares during the last quarter. MCF Advisors LLC boosted its holdings in shares of Agilysys by 120.3% during the 2nd quarter. MCF Advisors LLC now owns 478 shares of the software maker's stock worth $50,000 after purchasing an additional 261 shares during the last quarter. Finally, Covestor Ltd boosted its holdings in shares of Agilysys by 511.8% during the 3rd quarter. Covestor Ltd now owns 673 shares of the software maker's stock worth $65,000 after purchasing an additional 563 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Price Performance

NASDAQ:AGYS opened at $123.93 on Tuesday. The firm has a market capitalization of $3.50 billion, a price-to-earnings ratio of 79.44, a PEG ratio of 3.35 and a beta of 0.40. The company's 50-day moving average is $109.09 and its two-hundred day moving average is $92.55. Agilysys, Inc. has a 1-year low of $61.50 and a 1-year high of $133.32.

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

Wall Street Analyst Weigh In

Several research firms recently commented on AGYS. Piper Sandler increased their price target on Agilysys from $120.00 to $140.00 and gave the company an "overweight" rating in a report on Tuesday, October 27th. Zacks Research downgraded Agilysys from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Weiss Ratings raised Agilysys from a "hold (c)" rating to a "hold (c+)" rating in a research note on Friday, October 30th. UBS Group set a $145.00 target price on Agilysys in a report on Tuesday, October 27th. Finally, Oppenheimer reaffirmed an "outperform" rating and issued a $135.00 target price (up from $118.00) on shares of Agilysys in a research note 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 stock. Based on data from MarketBeat, Agilysys presently has a consensus rating of "Moderate Buy" and a consensus price target of $141.25.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 750 shares of the firm's stock in a transaction 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 completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Kyle C. Badger sold 8,400 shares of Agilysys stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the sale, the senior vice president owned 75,037 shares in the company, valued at $8,558,720.22. This represents a 10.07% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 17,113 shares of company stock valued at $1,958,989. Insiders own 8.70% of the company's stock.

Agilysys Profile

Agilysys, Inc develops software and technology solutions for the hospitality industry. Its products support hotels, resorts, casinos, restaurants, cruise lines, and other organizations that serve guests.

The company's offerings include property management and point-of-sale systems, as well as tools for inventory and procurement, guest engagement, payments, and operational analytics. Agilysys also provides implementation, support, and other services related to its software.

Founded in 1963, Agilysys is headquartered in Alpharetta, Georgia, and serves hospitality businesses in North America and international markets.

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