Bamco Inc. NY Acquires Shares of 197,104 Agilysys, Inc. $AGYS

Key Points

• Bamco Inc. NY acquired 197,104 shares of Agilysys in the second quarter, valued at approximately $20.6 million and representing a 0.70% stake. Institutional investors collectively own 88% of the company.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $124.60. Piper Sandler raised its target to $120, while five analysts rate the stock a Buy and three rate it a Hold.
• Agilysys recently beat quarterly expectations, reporting $0.49 in EPS versus a $0.40 consensus estimate and revenue of $87.68 million, up 14.3% year over year. However, insiders sold a combined 211,810 shares worth approximately $22.9 million over the past 90 days.

Bamco Inc. NY bought a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 197,104 shares of the software maker's stock, valued at approximately $20,597,000. Bamco Inc. NY owned 0.70% of Agilysys as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the business. Caitong International Asset Management Co. Ltd boosted its position in shares of Agilysys by 419.5% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker's stock valued at $25,000 after acquiring an additional 172 shares during the period. Optiver Holding B.V. lifted its stake in Agilysys by 700.0% in the 1st 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. Los Angeles Capital Management LLC purchased a new stake in Agilysys in the 4th quarter worth approximately $34,000. Measured Wealth Private Client Group LLC bought a new position in Agilysys in the 3rd quarter valued at $43,000. Finally, Versant Capital Management Inc grew its position 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 purchasing an additional 233 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on AGYS shares. Piper Sandler upped their target price on Agilysys from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 28th. Cantor Fitzgerald restated an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Oppenheimer reaffirmed an "outperform" rating and issued a $118.00 price objective on shares of Agilysys in a research note on Tuesday, July 28th. Zacks Research lowered shares of Agilysys from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Finally, Weiss Ratings upgraded shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 13th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, Agilysys presently has a consensus rating of "Moderate Buy" and a consensus price target of $124.60.

Agilysys Stock Up 5.1%

Shares of AGYS opened at $120.50 on Friday. The stock has a market capitalization of $3.40 billion, a P/E ratio of 79.80 and a beta of 0.37. Agilysys, Inc. has a twelve month low of $61.50 and a twelve month high of $145.25. The firm has a fifty day simple moving average of $106.82 and a two-hundred day simple moving average of $86.33.

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

Insiders Place Their Bets

In other news, SVP Kyle C. Badger sold 8,400 shares of Agilysys stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.06, for a total value of $958,104.00. Following the sale, the senior vice president directly owned 75,037 shares in the company, valued at approximately $8,558,720.22. This trade represents a 10.07% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO William David Wood III sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $114.72, for a total value of $688,320.00. Following the transaction, the chief financial officer directly owned 35,052 shares in the company, valued at $4,021,165.44. This trade represents a 14.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 211,810 shares of company stock worth $22,931,805. 8.70% of the stock is currently owned by company insiders.

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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