Lord Abbett & CO. LLC Lowers Stock Holdings 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 stake in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 95.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,519 shares of the software maker's stock after selling 1,115,166 shares during the quarter. Lord Abbett & CO. LLC owned about 0.19% of Agilysys worth $3,810,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in AGYS. Vanguard Group Inc. raised its stake in shares of 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 purchasing an additional 18,744 shares during the last quarter. Nuveen LLC acquired a new position in Agilysys in the 1st quarter worth approximately $80,730,000. Geneva Capital Management LLC increased its holdings in Agilysys by 14.9% in the 1st 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 during the period. Conestoga Capital Advisors LLC raised its position in Agilysys by 105.2% during the 1st 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 during the last quarter. Finally, Riverbridge Partners LLC acquired a new stake in Agilysys during the 1st quarter valued at approximately $32,913,000. Hedge funds and other institutional investors own 88.00% of the company's stock.

Insider Buying and Selling at Agilysys

In related news, insider Chris J. Robertson sold 258 shares of the company'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 sale, the insider owned 21,137 shares of the company's stock, valued at approximately $2,396,724.43. This represents a 1.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO William David Wood III sold 321 shares of the business'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 $36,398.19. Following the completion of the transaction, the chief financial officer 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 disclosure for this sale can be found here. In the last 90 days, insiders sold 1,405 shares of company stock worth $158,033. Company insiders own 8.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AGYS. Oppenheimer increased their price objective on shares of Agilysys from $90.00 to $120.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Cantor Fitzgerald initiated coverage on shares of Agilysys in a report on Tuesday, June 3rd. They issued an "overweight" rating and a $125.00 price target on the stock. Northland Securities set a $152.00 price objective on Agilysys in a research note on Tuesday, May 20th. Finally, Needham & Company LLC reissued a "buy" rating and issued a $105.00 price objective (up previously from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. Six analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $120.86.

Agilysys Price Performance

Shares of AGYS stock traded up $0.22 during mid-day trading on Thursday, hitting $106.72. 58,877 shares of the stock were exchanged, compared to its average volume of 309,509. Agilysys, Inc. has a 52-week low of $63.71 and a 52-week 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 cap of $2.99 billion, a PE ratio of 213.17 and a beta of 0.71. The firm has a fifty day moving average of $112.83 and a 200 day moving average of $92.90.

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

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.