Agilysys, Inc. (NASDAQ:AGYS) Shares Sold by Bank of America Corp DE

Bank of America Corp DE reduced its position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 33.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 65,488 shares of the software maker's stock after selling 32,842 shares during the period. Bank of America Corp DE owned about 0.23% of Agilysys worth $8,625,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of AGYS. Vanguard Group Inc. grew its position in shares of Agilysys by 2.7% in the fourth 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 Agilysys by 10.3% during the 4th quarter. Lord Abbett & CO. LLC now owns 1,167,685 shares of the software maker's stock valued at $153,796,000 after buying an additional 108,827 shares during the last quarter. FMR LLC grew its holdings in Agilysys by 58.3% during the 4th quarter. FMR LLC now owns 800,521 shares of the software maker's stock valued at $105,437,000 after buying an additional 294,831 shares during the last quarter. Invesco Ltd. increased its position in Agilysys by 412.9% during the fourth quarter. Invesco Ltd. now owns 727,794 shares of the software maker's stock worth $95,858,000 after buying an additional 585,886 shares in the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Agilysys by 521.7% in the fourth 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 last quarter. 88.00% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Agilysys

In other Agilysys news, Director John Mutch sold 750 shares of Agilysys stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $75.33, for a total transaction of $56,497.50. Following the transaction, the director now directly owns 31,904 shares of the company's stock, valued at $2,403,328.32. The trade was a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. 19.30% of the stock is owned by insiders.

Agilysys Trading Up 3.8%

Shares of AGYS stock traded up $3.85 during trading hours on Tuesday, hitting $105.46. 364,937 shares of the company were exchanged, compared to its average volume of 268,752. The firm has a fifty day moving average of $76.97 and a 200 day moving average of $98.59. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. Agilysys, Inc. has a 1 year low of $63.71 and a 1 year high of $142.64. The firm has a market cap of $2.95 billion, a PE ratio of 131.83 and a beta of 0.58.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its quarterly earnings results on Monday, May 19th. The software maker reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.26 by $0.28. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The company had revenue of $74.27 million for the quarter, compared to the consensus estimate of $71.43 million. During the same quarter last year, the firm posted $0.32 earnings per share. Agilysys's revenue was up 19.4% on a year-over-year basis. Analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Analyst Upgrades and Downgrades

AGYS has been the topic of a number of analyst reports. UBS Group set a $100.00 price objective on Agilysys in a research note on Wednesday, March 5th. Northland Securities set a $152.00 price target on shares of Agilysys in a research note on Tuesday, May 20th. Needham & Company LLC reissued a "buy" rating and issued a $105.00 price objective (up previously from $100.00) on shares of Agilysys in a research report on Tuesday, May 20th. Finally, Oppenheimer reduced their price objective on shares of Agilysys from $135.00 to $90.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $115.17.

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.