Lord Abbett & CO. LLC Lowers Stake in Agilysys, Inc. $AGYS

Key Points

• Lord Abbett & CO. LLC significantly reduced its stake in Agilysys, selling 1,115,166 shares and owning only 52,519 shares after an overall decline of 95.5% in the first quarter.
• Other institutional investors have made notable changes, such as Harbor Investment Advisory LLC increasing its holdings by 64.6% and new stakes acquired by firms like Canada Pension Plan Investment Board.
• Agilysys reported a 20.7% year-over-year increase in quarterly revenue but missed earnings estimates with an EPS of $0.33, compared to the expected $0.36.

Lord Abbett & CO. LLC decreased its holdings in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 95.5% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 52,519 shares of the software maker's stock after selling 1,115,166 shares during the period. Lord Abbett & CO. LLC owned about 0.19% of Agilysys worth $3,810,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Agilysys by 0.8% in the first quarter. Vanguard Group Inc. now owns 2,228,018 shares of the software maker's stock worth $161,620,000 after buying an additional 18,744 shares in the last quarter. Nuveen LLC bought a new position in Agilysys in the first quarter worth approximately $80,730,000. Geneva Capital Management LLC raised its stake in Agilysys by 14.9% in the first quarter. Geneva Capital Management LLC now owns 765,363 shares of the software maker's stock worth $55,519,000 after buying an additional 99,419 shares in the last quarter. Conestoga Capital Advisors LLC raised its stake in Agilysys by 105.2% in the first quarter. Conestoga Capital Advisors LLC now owns 731,039 shares of the software maker's stock worth $53,030,000 after buying an additional 374,800 shares in the last quarter. Finally, Riverbridge Partners LLC acquired a new position in shares of Agilysys during the first quarter worth $32,913,000. Institutional investors own 88.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on AGYS shares. Needham & Company LLC reaffirmed a "buy" rating and set a $105.00 price target (up from $100.00) on shares of Agilysys in a research report on Tuesday, May 20th. Oppenheimer upped their price target on Agilysys from $90.00 to $120.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 22nd. Cantor Fitzgerald started coverage on Agilysys in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $125.00 price target on the stock. Finally, Northland Securities set a $152.00 price target on Agilysys in a research report on Tuesday, May 20th. Six investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $120.86.

Agilysys Stock Performance

Shares of AGYS traded up $3.3450 during trading hours on Friday, reaching $110.2850. 59,273 shares of the company traded hands, compared to its average volume of 308,230. The stock has a market capitalization of $3.09 billion, a P/E ratio of 220.57 and a beta of 0.71. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.04. Agilysys, Inc. has a 12-month low of $63.71 and a 12-month high of $142.64. The business has a fifty day moving average price of $112.75 and a 200-day moving average price of $93.05.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced 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 analysts' expectations of $74.42 million. Agilysys had a net margin of 4.85% and a return on equity of 11.13%. Agilysys's quarterly revenue was up 20.7% compared to the same quarter last year. During the same period last year, the firm earned $0.30 earnings per share. Agilysys has set its FY 2026 guidance at EPS. Equities analysts anticipate that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling at Agilysys

In other news, Director John Mutch sold 500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $110.83, for a total transaction of $55,415.00. Following the sale, the director directly owned 31,404 shares of the company's stock, valued at $3,480,505.32. This represents a 1.57% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Chris J. Robertson sold 258 shares of the firm's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $113.39, for a total transaction of $29,254.62. Following the completion of the transaction, the insider directly owned 21,137 shares in the company, valued at $2,396,724.43. This represents a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,405 shares of company stock valued at $158,033 in the last three months. Company insiders own 8.60% of the company's stock.

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.