First Trust Advisors LP Purchases 16,212 Shares of Agilysys, Inc. $AGYS

Key Points

• First Trust Advisors LP increased its Agilysys stake by 59.1% in the first quarter, acquiring 16,212 additional shares and bringing its holdings to 43,660 shares valued at approximately $3.1 million. Institutional investors collectively own 88% of the company.
• Analyst sentiment remains positive, with five Buy ratings and three Hold ratings producing a consensus “Moderate Buy” rating and an average price target of $123.60. Needham raised its target to $130, while Zacks downgraded the stock to Hold.
• Agilysys reported quarterly EPS of $0.49, beating estimates of $0.40, while revenue rose 14.3% year over year to $87.68 million. Shares opened at $107.58, down 2.9%, with a market capitalization of about $3.03 billion.

First Trust Advisors LP boosted its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 59.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,660 shares of the software maker's stock after acquiring an additional 16,212 shares during the period. First Trust Advisors LP owned 0.16% of Agilysys worth $3,106,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its position in shares of Agilysys by 419.5% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker's stock valued at $25,000 after purchasing an additional 172 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Agilysys during the fourth quarter valued at $34,000. Measured Wealth Private Client Group LLC purchased a new position in Agilysys during the third quarter worth about $43,000. Smartleaf Asset Management LLC grew its position in Agilysys by 71.3% during the second quarter. Smartleaf Asset Management LLC now owns 632 shares of the software maker's stock worth $71,000 after buying an additional 263 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in Agilysys by 33.7% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 639 shares of the software maker's stock worth $81,000 after acquiring an additional 161 shares during the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Zacks Research downgraded Agilysys from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Needham & Company LLC upped their price objective on shares of Agilysys from $120.00 to $130.00 and gave the stock a "buy" rating in a research report on Tuesday, July 28th. Weiss Ratings raised shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research note on Monday, July 13th. UBS Group set a $110.00 price target on shares of Agilysys in a research note on Wednesday, June 3rd. Finally, Oppenheimer restated an "outperform" rating and set a $118.00 price objective on shares of Agilysys in a research report on Tuesday, July 28th. 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, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $123.60.

Agilysys Trading Down 2.9%

Shares of NASDAQ AGYS opened at $107.58 on Friday. The stock has a market cap of $3.03 billion, a price-to-earnings ratio of 71.25 and a beta of 0.37. Agilysys, Inc. has a 1-year low of $61.50 and a 1-year high of $145.25. The stock's 50-day moving average is $99.82 and its 200 day moving average is $84.56.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued its 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 during the quarter, compared to analyst estimates of $85.97 million. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Agilysys's revenue for the quarter was up 14.3% on a year-over-year basis. On average, analysts forecast that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

Agilysys 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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