Jennison Associates LLC Grows Position in Agilysys, Inc. $AGYS

Key Points

• Jennison Associates raised its Agilysys stake 20.7% in Q4, ending with 221,791 shares worth about $26.36 million (roughly 0.79% of the company).
• Analyst sentiment is mixed: a consensus "Moderate Buy" with a $131.40 target contrasts with downgrades and Oppenheimer's cut of its price target from $140 to $90.
• Insiders have bought recently (director Melvin L. Keating purchased 300 shares; 700 shares bought in the last three months) while institutional ownership is high at 88%, and the stock trades near $67.85 versus a 52‑week high of $145.25.

Jennison Associates LLC boosted its holdings in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 20.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 221,791 shares of the software maker's stock after acquiring an additional 38,007 shares during the quarter. Jennison Associates LLC owned about 0.79% of Agilysys worth $26,358,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of AGYS. Advisors Asset Management Inc. raised its position in Agilysys by 30.1% in the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock worth $50,000 after acquiring an additional 159 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Agilysys by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker's stock worth $972,000 after acquiring an additional 569 shares in the last quarter. Goldman Sachs Group Inc. raised its position in Agilysys by 125.0% in the first 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 in the last quarter. Jane Street Group LLC raised its position in Agilysys by 1,025.2% in the first quarter. Jane Street Group LLC now owns 37,750 shares of the software maker's stock worth $2,738,000 after acquiring an additional 34,395 shares in the last quarter. Finally, Cetera Investment Advisers purchased a new position in Agilysys in the second quarter worth $231,000. Hedge funds and other institutional investors own 88.00% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Weiss Ratings reiterated a "hold (c)" rating on shares of Agilysys in a research report on Wednesday, January 21st. Wall Street Zen downgraded Agilysys from a "buy" rating to a "hold" rating in a research note on Saturday, January 31st. Oppenheimer cut their price target on Agilysys from $140.00 to $90.00 and set an "outperform" rating for the company in a research note on Thursday, April 9th. Zacks Research raised Agilysys from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $120.00 price target on shares of Agilysys in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Agilysys currently has a consensus rating of "Moderate Buy" and a consensus target price of $131.40.

Insider Buying and Selling

In related news, Director Melvin L. Keating acquired 300 shares of the company's stock in a transaction that occurred on Tuesday, February 3rd. The stock was purchased at an average price of $83.62 per share, for a total transaction of $25,086.00. Following the transaction, the director owned 35,007 shares in the company, valued at $2,927,285.34. This trade represents a 0.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders bought 700 shares of company stock worth $52,376. Company insiders own 8.60% of the company's stock.

Agilysys Trading Up 5.9%

Agilysys stock opened at $67.85 on Friday. The stock has a market cap of $1.91 billion, a PE ratio of 63.41 and a beta of 0.30. The stock has a 50-day moving average price of $70.14 and a 200 day moving average price of $98.46. Agilysys, Inc. has a 52 week low of $61.50 and a 52 week high of $145.25.

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.

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