Lazard Asset Management LLC Raises Stock Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Lazard Asset Management LLC raised its position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 711.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,359 shares of the software maker's stock after buying an additional 9,083 shares during the quarter. Lazard Asset Management LLC's holdings in Agilysys were worth $1,364,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Agilysys by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 2,209,274 shares of the software maker's stock worth $290,983,000 after purchasing an additional 58,926 shares during the last quarter. Lord Abbett & CO. LLC lifted its holdings in shares of Agilysys by 10.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,167,685 shares of the software maker's stock worth $153,796,000 after purchasing an additional 108,827 shares during the period. FMR LLC lifted its holdings in shares of Agilysys by 58.3% during the fourth quarter. FMR LLC now owns 800,521 shares of the software maker's stock worth $105,437,000 after purchasing an additional 294,831 shares during the period. Invesco Ltd. lifted its holdings in shares of Agilysys by 412.9% during the fourth quarter. Invesco Ltd. now owns 727,794 shares of the software maker's stock worth $95,858,000 after purchasing an additional 585,886 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of Agilysys by 521.7% during the fourth quarter. Franklin Resources Inc. now owns 610,028 shares of the software maker's stock worth $80,347,000 after purchasing an additional 511,900 shares during the period. Hedge funds and other institutional investors own 88.00% of the company's stock.

Insiders Place Their Bets

In other news, Director John Mutch sold 2,000 shares of the firm's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $77.87, for a total value of $155,740.00. Following the completion of the transaction, the director now owns 32,654 shares in the company, valued at $2,542,766.98. This trade represents a 5.77% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 19.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Craig Hallum decreased their price target on Agilysys from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. UBS Group set a $100.00 price target on Agilysys in a report on Wednesday, March 5th. Needham & Company LLC decreased their price target on Agilysys from $125.00 to $100.00 and set a "buy" rating for the company in a report on Wednesday, March 5th. Finally, Oppenheimer decreased their price target on Agilysys from $135.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Agilysys presently has an average rating of "Moderate Buy" and a consensus target price of $120.00.

Agilysys Trading Up 4.0%

NASDAQ:AGYS opened at $86.00 on Monday. The stock has a fifty day moving average price of $74.10 and a two-hundred day moving average price of $99.09. The stock has a market capitalization of $2.40 billion, a price-to-earnings ratio of 107.50 and a beta of 0.58. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 1.14. Agilysys, Inc. has a 1 year low of $63.71 and a 1 year high of $142.64.

Agilysys 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.

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