Agilysys, Inc. (NASDAQ:AGYS) Shares Acquired by Cynosure Group LLC

Key Points

• Cynosure Group LLC increased its stake in Agilysys by 736.4%, acquiring an additional 15,701 shares in the first quarter, bringing its total holdings to approximately $1.29 million.
• Agilysys shares currently have a consensus rating of "Moderate Buy" with an average target price of $120.86, as multiple analysts have issued buy ratings and raised their price objectives for the stock.
• Despite positive revenue growth of 20.7% year-over-year, Agilysys reported a quarterly earnings miss, with earnings per share of $0.33, which was below the $0.36 expected by analysts.

Cynosure Group LLC increased its stake in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 736.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,833 shares of the software maker's stock after purchasing an additional 15,701 shares during the period. Cynosure Group LLC owned 0.06% of Agilysys worth $1,294,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Harbor Investment Advisory LLC boosted its stake in shares of Agilysys by 64.6% in the first quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker's stock worth $44,000 after buying an additional 239 shares during the last quarter. Mpwm Advisory Solutions LLC acquired a new position in shares of Agilysys in the 4th quarter valued at $64,000. Cloud Capital Management LLC acquired a new stake in Agilysys during the first quarter valued at $86,000. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Agilysys by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,405 shares of the software maker's stock worth $102,000 after acquiring an additional 141 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Agilysys during the 4th quarter worth about $145,000. Hedge funds and other institutional investors own 88.00% of the company's stock.

Agilysys Trading Up 2.2%

NASDAQ AGYS traded up $2.34 during trading on Wednesday, hitting $110.70. The stock had a trading volume of 75,417 shares, compared to its average volume of 314,772. The firm has a 50 day moving average price of $113.39 and a 200 day moving average price of $92.25. The company has a market capitalization of $3.10 billion, a PE ratio of 221.14 and a beta of 0.71. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.04. Agilysys, Inc. has a twelve month low of $63.71 and a twelve month high of $142.64.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued its quarterly earnings results on Monday, July 21st. The software maker reported $0.33 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The firm had revenue of $76.68 million during the quarter, compared to analysts' expectations of $74.42 million. Agilysys had a return on equity of 11.13% and a net margin of 4.85%. The firm's revenue was up 20.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.30 EPS. As a group, equities research analysts forecast that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Analyst Ratings Changes

AGYS has been the subject of a number of analyst reports. Oppenheimer upped their price target on Agilysys from $90.00 to $120.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Cantor Fitzgerald started coverage on shares of Agilysys in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $125.00 price target for the company. Needham & Company LLC reissued a "buy" rating and set a $105.00 target price (up previously from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. Finally, Northland Securities set a $152.00 target price on shares of Agilysys in a research report on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Agilysys presently has a consensus rating of "Moderate Buy" and an average target price of $120.86.

Insider Activity at Agilysys

In other news, insider Chris J. Robertson sold 258 shares of the firm's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total value of $29,254.62. Following the completion of the sale, the insider directly owned 21,137 shares of the company's stock, valued at $2,396,724.43. This trade represents a 1.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO William David Wood III sold 321 shares of Agilysys stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $113.39, for a total transaction of $36,398.19. Following the sale, the chief financial officer owned 47,288 shares of the company's stock, valued at approximately $5,361,986.32. The trade was a 0.67% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,405 shares of company stock worth $158,033 in the last ninety days. Company insiders own 8.60% of the company's stock.

Agilysys Profile

Agilysys, Inc operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services.