Nuveen LLC Acquires Shares of 1,112,905 Agilysys, Inc. $AGYS

Key Points

• Nuveen LLC has acquired over 1.1 million shares of Agilysys, Inc. for approximately $80.7 million, representing a 3.98% stake in the company as of its latest SEC filing.
• Agilysys reported quarterly earnings of $0.33 EPS, falling short of analysts' expectations while achieving a 20.7% year-over-year revenue growth to $76.68 million.
• Several analysts have set varying price targets for Agilysys, with Northland Securities raising the target to $152.00 and Oppenheimer adjusting it to $120.00, reflecting a consensus of "Moderate Buy" among analysts.

Nuveen LLC purchased a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 1,112,905 shares of the software maker's stock, valued at approximately $80,730,000. Nuveen LLC owned about 3.98% of Agilysys as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of AGYS. Harbor Investment Advisory LLC raised its position in Agilysys by 64.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker's stock worth $44,000 after buying an additional 239 shares during the last quarter. Mpwm Advisory Solutions LLC purchased a new stake in Agilysys in the 4th quarter worth approximately $64,000. Cloud Capital Management LLC purchased a new stake in Agilysys during the first quarter worth $86,000. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Agilysys by 11.2% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,405 shares of the software maker's stock valued at $102,000 after buying an additional 141 shares during the period. Finally, Canada Pension Plan Investment Board purchased a new position in Agilysys in the fourth quarter valued at $145,000. Institutional investors and hedge funds own 88.00% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on AGYS shares. Cantor Fitzgerald started coverage on shares of Agilysys in a research note on Tuesday, June 3rd. They set an "overweight" rating and a $125.00 target price on the stock. Northland Securities set a $152.00 price objective on shares of Agilysys in a report on Tuesday, May 20th. Oppenheimer boosted their target price 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $105.00 price target (up from $100.00) on shares of Agilysys in a research note on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $120.86.

Insiders Place Their Bets

In other Agilysys news, CFO William David Wood III sold 321 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $113.39, for a total value of $36,398.19. Following the transaction, the chief financial officer directly owned 47,288 shares in the company, valued at $5,361,986.32. This represents a 0.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Chris J. Robertson sold 258 shares of Agilysys stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total transaction of $29,254.62. Following the sale, the insider 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 worth $158,033 over the last 90 days. Insiders own 8.60% of the company's stock.

Agilysys Trading Up 1.4%

Agilysys stock traded up $1.51 during midday trading on Monday, hitting $107.34. 37,965 shares of the stock were exchanged, compared to its average volume of 312,670. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.04. The stock's 50-day simple moving average is $113.17 and its 200 day simple moving average is $92.59. Agilysys, Inc. has a fifty-two week low of $63.71 and a fifty-two week high of $142.64. The stock has a market capitalization of $3.01 billion, a price-to-earnings ratio of 214.68 and a beta of 0.71.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued 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). Agilysys had a net margin of 4.85% and a return on equity of 11.13%. The firm had revenue of $76.68 million during the quarter, compared to analyst estimates of $74.42 million. During the same period in the previous year, the firm posted $0.30 earnings per share. The company's quarterly revenue was up 20.7% compared to the same quarter last year. On average, equities analysts anticipate that Agilysys, Inc. will post 0.8 EPS 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.