Bank of America Corp DE increased its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 7.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 146,118 shares of the software maker's stock after acquiring an additional 9,537 shares during the period. Bank of America Corp DE owned about 0.52% of Agilysys worth $10,395,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Capital Research Global Investors bought a new stake in shares of Agilysys during the fourth quarter worth $104,878,000. Wellington Management Group LLP lifted its position in Agilysys by 75.9% during the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker's stock worth $72,675,000 after buying an additional 297,846 shares in the last quarter. Wasatch Advisors LP grew its holdings in Agilysys by 33.0% during the 1st quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker's stock worth $67,848,000 after acquiring an additional 236,373 shares during the last quarter. Goldman Sachs Group Inc. grew its holdings in Agilysys by 125.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker's stock worth $24,080,000 after acquiring an additional 184,402 shares during the last quarter. Finally, Jennison Associates LLC grew its holdings in Agilysys by 64.8% during the 1st quarter. Jennison Associates LLC now owns 365,580 shares of the software maker's stock worth $26,007,000 after acquiring an additional 143,789 shares during the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Agilysys
In related news, CEO Ramesh Srinivasan sold 106,205 shares of the stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $106.62, for a total value of $11,323,577.10. Following the sale, the chief executive officer directly owned 635,044 shares in the company, valued at $67,708,391.28. This trade represents a 14.33% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO William David Wood III sold 6,000 shares of Agilysys stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total transaction 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. The trade was a 14.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 211,810 shares of company stock worth $22,931,805. 8.70% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on AGYS. Needham & Company LLC raised their price target on shares of Agilysys from $130.00 to $135.00 and gave the company a "buy" rating in a report on Monday, August 10th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. UBS Group set a $110.00 price objective on Agilysys in a research report on Wednesday, June 3rd. 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, Weiss Ratings upgraded 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 company's stock. According to data from MarketBeat.com, Agilysys currently has an average rating of "Moderate Buy" and a consensus target price of $124.60.
Read Our Latest Report on AGYS
Agilysys Stock Performance
Shares of Agilysys stock opened at $113.80 on Monday. The firm has a fifty day moving average of $104.56 and a two-hundred day moving average of $85.47. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of 75.36 and a beta of 0.37. 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 the consensus estimate of $0.40 by $0.09. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The business had revenue of $87.68 million for the quarter, compared to analyst estimates of $85.97 million. During the same period last year, the company earned $0.33 EPS. The firm's revenue was up 14.3% on a year-over-year basis. As a group, research analysts forecast that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.
About Agilysys
(
Free Report)
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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