Oppenheimer Asset Management Inc. Buys 21,767 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Oppenheimer Asset Management Inc. boosted its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 242.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,740 shares of the software maker's stock after buying an additional 21,767 shares during the period. Oppenheimer Asset Management Inc. owned approximately 0.11% of Agilysys worth $2,230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Truist Financial Corp raised its holdings in shares of Agilysys by 2.6% during the 4th quarter. Truist Financial Corp now owns 14,038 shares of the software maker's stock worth $1,849,000 after acquiring an additional 357 shares in the last quarter. Illinois Municipal Retirement Fund grew its position in Agilysys by 2.8% in the fourth quarter. Illinois Municipal Retirement Fund now owns 11,994 shares of the software maker's stock worth $1,580,000 after acquiring an additional 328 shares in the last quarter. Smartleaf Asset Management LLC increased its stake in Agilysys by 381.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker's stock worth $57,000 after acquiring an additional 336 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Agilysys by 2.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 204,665 shares of the software maker's stock valued at $26,956,000 after purchasing an additional 5,659 shares during the period. Finally, Cornerstone Investment Partners LLC purchased a new stake in Agilysys during the fourth quarter valued at approximately $226,000. 88.00% of the stock is owned by institutional investors.

Agilysys Trading Down 4.4%

Shares of NASDAQ AGYS traded down $5.25 during mid-day trading on Friday, reaching $112.94. The company had a trading volume of 894,856 shares, compared to its average volume of 270,241. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 136.07 and a beta of 0.74. Agilysys, Inc. has a 52 week low of $63.71 and a 52 week high of $142.64. The business's 50-day moving average is $94.79 and its 200-day moving average is $95.96. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 0.09.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings data on Monday, May 19th. The software maker reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.28. The company had revenue of $74.27 million during the quarter, compared to analysts' expectations of $71.43 million. Agilysys had a net margin of 8.43% and a return on equity of 11.24%. The firm's quarterly revenue was up 19.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.32 EPS. Equities analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Insiders Place Their Bets

In other Agilysys 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 transaction, the director now directly owns 31,404 shares in the company, valued at $3,480,505.32. This represents a 1.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 19.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on the company. UBS Group set a $100.00 target price on Agilysys in a report on Wednesday, March 5th. Northland Securities set a $152.00 price objective on shares of Agilysys in a research report on Tuesday, May 20th. Cantor Fitzgerald assumed coverage on shares of Agilysys in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $125.00 target price on the stock. Oppenheimer lowered their target price on shares of Agilysys from $135.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Finally, Needham & Company LLC reiterated a "buy" rating and set a $105.00 price target (up from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $116.57.

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.