Jupiter Topco LLC Purchases Shares of 11,910 Agilysys, Inc. $AGYS

Key Points

• Jupiter Topco LLC acquired 11,910 Agilysys shares during the second quarter, valued at approximately $1.24 million. Institutional investors own about 88% of the company.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $124.60.
• Agilysys exceeded quarterly expectations, reporting $0.49 in EPS and $87.68 million in revenue, while revenue increased 14.3% year over year. However, insiders sold roughly $23 million of stock over the past 90 days.

Jupiter Topco LLC purchased a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,910 shares of the software maker's stock, valued at approximately $1,244,000.

A number of other hedge funds have also recently made changes to their positions in the business. Advisors Asset Management Inc. boosted its position in 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 period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of 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 buying an additional 569 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of Agilysys by 125.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker's stock valued at $24,080,000 after acquiring an additional 184,402 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of Agilysys by 1,025.2% in the 1st quarter. Jane Street Group LLC now owns 37,750 shares of the software maker's stock valued at $2,738,000 after acquiring an additional 34,395 shares during the last quarter. Finally, Cetera Investment Advisers purchased a new stake in Agilysys during the 2nd quarter valued at about $231,000. 88.00% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on AGYS. Zacks Research lowered Agilysys from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 27th. Weiss Ratings upgraded shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Oppenheimer reissued an "outperform" rating and set a $118.00 price target on shares of Agilysys in a research report on Tuesday, July 28th. Needham & Company LLC raised their price target on shares of Agilysys from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, Piper Sandler upped their price objective on shares of Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a research note on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $124.60.

Agilysys Trading Down 2.4%

NASDAQ:AGYS opened at $111.36 on Friday. The company has a 50-day moving average price of $109.52 and a 200-day moving average price of $87.58. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of 73.75 and a beta of 0.38. Agilysys, Inc. has a 12 month low of $61.50 and a 12 month high of $145.25.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its quarterly earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The company had revenue of $87.68 million for the quarter, compared to analysts' expectations of $85.97 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. Agilysys's quarterly revenue was up 14.3% on a year-over-year basis. Equities analysts forecast that Agilysys, Inc. will post 1.73 EPS for the current fiscal year.

Insider Activity at Agilysys

In related news, SVP Kyle Badger sold 8,400 shares of the firm's stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total value of $958,104.00. Following the sale, the senior vice president owned 75,037 shares in the company, valued at approximately $8,558,720.22. This trade represents a 10.07% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO William 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 completion of the transaction, the chief financial officer directly owned 35,052 shares in the company, valued at $4,021,165.44. The trade was a 14.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 212,812 shares of company stock valued at $23,046,675 over the last ninety days. Company insiders own 8.70% of the company's stock.

About Agilysys

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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