Bank of New York Mellon Corp Takes Position in Agilysys, Inc. $AGYS

Bank of New York Mellon Corp purchased a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 194,277 shares of the software maker's stock, valued at approximately $20,302,000. Bank of New York Mellon Corp owned 0.69% of Agilysys as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in AGYS. ProShare Advisors LLC increased its position in shares of Agilysys by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 5,023 shares of the software maker's stock valued at $597,000 after acquiring an additional 153 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock valued at $50,000 after purchasing an additional 159 shares during the last quarter. Glenmede Trust Co. NA lifted its stake in Agilysys by 3.1% during the first quarter. Glenmede Trust Co. NA now owns 5,518 shares of the software maker's stock worth $393,000 after purchasing an additional 165 shares in the last quarter. NewEdge Advisors LLC boosted its position in shares of Agilysys by 4.5% during the fourth quarter. NewEdge Advisors LLC now owns 3,947 shares of the software maker's stock worth $469,000 after buying an additional 170 shares during the period. Finally, Caitong International Asset Management Co. Ltd grew its stake 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 buying an additional 172 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on AGYS shares. Cantor Fitzgerald restated an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Needham & Company LLC increased their price target on shares of Agilysys from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. UBS Group set a $110.00 price objective on shares of Agilysys in a research note on Wednesday, June 3rd. Oppenheimer restated an "outperform" rating and issued a $118.00 price objective on shares of Agilysys in a report on Tuesday, July 28th. Finally, Weiss Ratings upgraded shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $124.60.

Agilysys Stock Performance

Shares of NASDAQ:AGYS opened at $117.88 on Monday. The firm has a 50 day simple moving average of $107.43 and a 200-day simple moving average of $86.56. Agilysys, Inc. has a twelve month low of $61.50 and a twelve month high of $145.25. The company has a market capitalization of $3.33 billion, a PE ratio of 78.07 and a beta of 0.37.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its earnings results on Monday, July 27th. The software maker reported $0.49 EPS for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The firm had revenue of $87.68 million for the quarter, compared to the consensus estimate of $85.97 million. During the same period last year, the firm posted $0.33 EPS. The company's revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts predict that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Ramesh Srinivasan sold 25,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 610,044 shares of the company's stock, valued at $65,976,258.60. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO William David Wood III sold 6,000 shares of the firm's stock in a transaction dated Tuesday, August 18th. The stock was 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 approximately $4,021,165.44. This represents a 14.62% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 211,810 shares of company stock worth $22,931,805 in the last 90 days. Company insiders own 8.70% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source