Assenagon Asset Management S.A. Sells 135,452 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Assenagon Asset Management S.A. lessened its stake in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 97.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,449 shares of the software maker's stock after selling 135,452 shares during the period. Assenagon Asset Management S.A.'s holdings in Agilysys were worth $250,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in Agilysys by 2.7% during the 4th quarter. Vanguard Group Inc. now owns 2,209,274 shares of the software maker's stock valued at $290,983,000 after purchasing an additional 58,926 shares during the last quarter. Lord Abbett & CO. LLC grew its holdings in shares of Agilysys by 10.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,167,685 shares of the software maker's stock worth $153,796,000 after acquiring an additional 108,827 shares during the period. FMR LLC grew its holdings in shares of Agilysys by 58.3% during the 4th quarter. FMR LLC now owns 800,521 shares of the software maker's stock worth $105,437,000 after acquiring an additional 294,831 shares during the period. Invesco Ltd. grew its holdings in shares of Agilysys by 412.9% during the 4th quarter. Invesco Ltd. now owns 727,794 shares of the software maker's stock worth $95,858,000 after acquiring an additional 585,886 shares during the period. Finally, Franklin Resources Inc. grew its holdings in shares of Agilysys by 521.7% during the 4th quarter. Franklin Resources Inc. now owns 610,028 shares of the software maker's stock worth $80,347,000 after acquiring an additional 511,900 shares during the period. Institutional investors own 88.00% of the company's stock.

Insider Buying and Selling

In other Agilysys news, Director John Mutch sold 500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $110.83, for a total transaction of $55,415.00. Following the completion of the sale, the director now owns 31,404 shares of the company's stock, valued at approximately $3,480,505.32. The trade was a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 19.30% of the stock is currently owned by corporate insiders.

Agilysys Stock Up 4.3%

Shares of AGYS stock traded up $4.66 during mid-day trading on Monday, hitting $113.15. The company's stock had a trading volume of 325,258 shares, compared to its average volume of 268,342. Agilysys, Inc. has a 52-week low of $63.71 and a 52-week high of $142.64. The business has a 50-day moving average price of $91.08 and a 200 day moving average price of $95.91. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.11. The stock has a market cap of $3.17 billion, a price-to-earnings ratio of 136.33 and a beta of 0.73.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued its quarterly earnings data on Monday, May 19th. The software maker reported $0.54 EPS for the quarter, topping the consensus estimate of $0.26 by $0.28. Agilysys had a return on equity of 11.24% and a net margin of 8.43%. The company had revenue of $74.27 million during the quarter, compared to analyst estimates of $71.43 million. During the same quarter in the previous year, the company posted $0.32 earnings per share. Agilysys's revenue was up 19.4% compared to the same quarter last year. Research analysts predict that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Northland Securities set a $152.00 target price on Agilysys in a report on Tuesday, May 20th. Oppenheimer reduced their price objective on Agilysys from $135.00 to $90.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. UBS Group set a $100.00 price objective on Agilysys in a research note on Wednesday, March 5th. Needham & Company LLC reiterated a "buy" rating and set a $105.00 price objective (up previously from $100.00) on shares of Agilysys in a research note on Tuesday, May 20th. Finally, Cantor Fitzgerald initiated coverage on Agilysys in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $125.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $116.57.

Agilysys Company 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.