Fred Alger Management LLC Reduces Position in Agilysys, Inc. $AGYS

Key Points

• Fred Alger Management LLC reduced its stake in Agilysys, Inc. by 4.9% to retain approximately 2.38% ownership, equating to a value of $48.30 million.
• Several institutional investors, including Nuveen LLC and Riverbridge Partners LLC, have made significant investments in Agilysys during the 1st quarter, highlighting strong interest with institutional ownership at 88%.
• Agilysys reported $0.33 EPS for the last quarter, missing analysts' estimates, but had a revenue increase of 20.7% year-over-year, signaling ongoing business growth despite earnings miss.

Fred Alger Management LLC trimmed its stake in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 4.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 665,792 shares of the software maker's stock after selling 34,227 shares during the quarter. Fred Alger Management LLC owned approximately 2.38% of Agilysys worth $48,297,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also added to or reduced their stakes in the company. Mpwm Advisory Solutions LLC bought a new stake in Agilysys in the fourth quarter worth approximately $64,000. Harbor Investment Advisory LLC boosted its position in shares of Agilysys by 64.6% during the first quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker's stock valued at $44,000 after buying an additional 239 shares during the last quarter. Advisors Asset Management Inc. boosted its position in shares of Agilysys by 30.1% during the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock valued at $50,000 after buying an additional 159 shares during the last quarter. AlphaQuest LLC boosted its position in shares of Agilysys by 2,026.0% during the first quarter. AlphaQuest LLC now owns 1,063 shares of the software maker's stock valued at $77,000 after buying an additional 1,013 shares during the last quarter. Finally, Cloud Capital Management LLC purchased a new position in Agilysys in the first quarter worth $86,000. 88.00% of the stock is currently owned by institutional investors.

Insider Transactions at Agilysys

In other news, CFO William David Wood III sold 321 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total value of $36,398.19. Following the transaction, the chief financial officer directly owned 47,288 shares in the company, valued at $5,361,986.32. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kyle C. Badger sold 326 shares of Agilysys stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total value of $36,965.14. Following the completion of the sale, the senior vice president directly owned 114,791 shares in the company, valued at $13,016,151.49. This trade represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 905 shares of company stock worth $102,618 in the last ninety days. Insiders own 8.60% of the company's stock.

Agilysys Stock Down 2.9%

Shares of NASDAQ:AGYS traded down $3.17 during trading on Friday, hitting $105.88. The stock had a trading volume of 193,562 shares, compared to its average volume of 167,088. Agilysys, Inc. has a 12 month low of $63.71 and a 12 month high of $142.64. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.04. The company has a market capitalization of $2.97 billion, a PE ratio of 211.76 and a beta of 0.64. The firm's fifty day moving average is $111.57 and its 200 day moving average is $95.88.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The software maker reported $0.33 earnings per share for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). The company had revenue of $76.68 million for the quarter, compared to the consensus estimate of $74.42 million. Agilysys had a net margin of 4.85% and a return on equity of 11.13%. The firm's quarterly revenue was up 20.7% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. Agilysys has set its FY 2026 guidance at EPS. Analysts anticipate that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently commented on AGYS shares. Oppenheimer upped their price target on Agilysys from $120.00 to $125.00 and gave the company an "outperform" rating in a research report on Tuesday. Cantor Fitzgerald assumed coverage on Agilysys in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $125.00 target price on the stock. Needham & Company LLC restated a "buy" rating and issued a $105.00 target price (up from $100.00) on shares of Agilysys in a research note on Tuesday, May 20th. Finally, Northland Securities set a $152.00 price objective on Agilysys in a research report on Tuesday, May 20th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy" and a consensus price target of $121.57.

Agilysys Company 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.