Baird Financial Group Inc. Invests $1.74 Million in Agilysys, Inc. $AGYS

Key Points

• Baird Financial Group acquired 16,607 Agilysys shares worth approximately $1.74 million, while institutional investors collectively own 88% of the company.
• Agilysys reported quarterly EPS of $0.49, exceeding estimates of $0.40, and revenue of $87.68 million, up 14.3% year over year. The stock opened at $100.13, down 2.0%.
• Analysts maintain a Moderate Buy consensus with an average price target of $124.60, although company insiders sold approximately $23.05 million in shares over the past three months.

Baird Financial Group Inc. bought a new position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 16,607 shares of the software maker's stock, valued at approximately $1,735,000. Baird Financial Group Inc. owned 0.06% of Agilysys as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Optiver Holding B.V. increased its stake in shares of Agilysys by 700.0% in the first quarter. Optiver Holding B.V. now owns 456 shares of the software maker's stock worth $32,000 after purchasing an additional 399 shares in the last quarter. Caitong International Asset Management Co. Ltd lifted its stake in shares of Agilysys by 702.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the software maker's stock valued at $39,000 after buying an additional 288 shares in the last quarter. Versant Capital Management Inc lifted its stake 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 valued at $44,000 after buying an additional 233 shares in the last quarter. Johnson Financial Group Inc. bought a new position in Agilysys in the 2nd quarter worth $85,000. Finally, Global Retirement Partners LLC purchased a new stake in Agilysys in the 2nd quarter worth $92,000. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Stock Down 2.0%

Shares of NASDAQ:AGYS opened at $100.13 on Friday. The business's 50 day moving average is $108.93 and its 200 day moving average is $89.66. The stock has a market cap of $2.82 billion, a P/E ratio of 66.31 and a beta of 0.38. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25.

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

Analysts Set New Price Targets

A number of equities research analysts have commented on AGYS shares. Needham & Company LLC raised their price target on Agilysys from $130.00 to $135.00 and gave the company a "buy" rating in a report on Monday, August 10th. UBS Group set a $110.00 price objective on Agilysys in a research note on Wednesday, June 3rd. Cantor Fitzgerald reiterated an "overweight" rating on shares of Agilysys in a research report on Tuesday, July 28th. Piper Sandler lifted their target price on Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Finally, Zacks Research cut Agilysys from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $124.60.

Insider Buying and Selling

In related news, CEO Ramesh Srinivasan sold 25,000 shares of the company's stock in a transaction on Friday, August 7th. The stock was sold at an average price of $108.15, for a total transaction of $2,703,750.00. Following the completion of the sale, the chief executive officer directly owned 610,044 shares in the company, valued at $65,976,258.60. This represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO William Wood, III sold 6,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.72, for a total value of $688,320.00. Following the sale, the chief financial officer directly owned 35,052 shares in the company, valued at approximately $4,021,165.44. The trade was a 14.62% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 212,812 shares of company stock worth $23,046,675 in the last three months. Corporate insiders own 8.70% of the company's stock.

About Agilysys

Agilysys, Inc develops and provides hospitality software and technology solutions for hotels, resorts, casinos, cruise lines, corporate foodservice operations, universities and other hospitality-focused organizations. Its offerings are designed to help businesses manage guest experiences, property operations and back-office processes.

The company's product portfolio includes property management systems, point-of-sale solutions, inventory and procurement software, workforce management tools, guest engagement applications, payment solutions and related services.

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