Osterweis Capital Management Inc. Makes New $6.53 Million Investment in Agilysys, Inc. $AGYS

Key Points

• Osterweis Capital Management acquired 62,440 Agilysys shares worth approximately $6.53 million, representing a 0.22% stake. Institutional investors collectively own about 88% of the company.
• Agilysys insiders have sold significant holdings recently, including 6,000 shares sold by the CFO and 25,000 shares by the CEO; insiders sold 211,810 shares worth $22.9 million over the past 90 days.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and average price target of $124.60. The company recently beat quarterly earnings expectations, reporting $0.49 per share on revenue of $87.68 million, up 14.3% year over year.

Osterweis Capital Management Inc. acquired a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 62,440 shares of the software maker's stock, valued at approximately $6,525,000. Osterweis Capital Management Inc. owned 0.22% of Agilysys as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. ProShare Advisors LLC boosted its position in shares of Agilysys by 3.1% during the fourth quarter. ProShare Advisors LLC now owns 5,023 shares of the software maker's stock worth $597,000 after buying an additional 153 shares during the period. Advisors Asset Management Inc. boosted its position in shares of Agilysys by 30.1% in the 1st quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock valued at $50,000 after purchasing an additional 159 shares during the period. Glenmede Trust Co. NA boosted its holdings in shares of Agilysys by 3.1% in the first quarter. Glenmede Trust Co. NA now owns 5,518 shares of the software maker's stock worth $393,000 after buying an additional 165 shares during the period. NewEdge Advisors LLC grew its position in Agilysys by 4.5% during the 4th quarter. NewEdge Advisors LLC now owns 3,947 shares of the software maker's stock worth $469,000 after purchasing an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd raised its position in Agilysys by 419.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker's stock valued at $25,000 after buying an additional 172 shares during the period. 88.00% of the stock is currently owned by institutional investors.

Insider Activity at Agilysys

In other Agilysys news, CFO William David Wood III sold 6,000 shares of the stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total transaction of $688,320.00. Following the completion of the transaction, the chief financial officer directly owned 35,052 shares in the company, valued at $4,021,165.44. This represents a 14.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Ramesh Srinivasan sold 25,000 shares of Agilysys stock in a transaction on Friday, August 7th. The shares were sold at an average price of $108.15, for a total value of $2,703,750.00. Following the transaction, the chief executive officer directly owned 610,044 shares of the company's stock, valued at approximately $65,976,258.60. The trade was a 3.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 211,810 shares of company stock valued at $22,931,805 in the last 90 days. 8.70% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on AGYS shares. Piper Sandler increased their price objective on Agilysys from $110.00 to $120.00 and gave the stock an "overweight" rating in a report on Tuesday, July 28th. Oppenheimer restated an "outperform" rating and set a $118.00 price target on shares of Agilysys in a report on Tuesday, July 28th. UBS Group set a $110.00 price objective on shares of Agilysys in a research note on Wednesday, June 3rd. Needham & Company LLC increased their target price on shares of Agilysys from $130.00 to $135.00 and gave the stock a "buy" rating in a research report on Monday, August 10th. Finally, Zacks Research lowered Agilysys from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, Agilysys presently has a consensus rating of "Moderate Buy" and an average target price of $124.60.

Agilysys Trading Up 0.0%

Shares of NASDAQ AGYS opened at $113.82 on Tuesday. The business has a fifty day simple moving average of $105.08 and a 200 day simple moving average of $85.68. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 75.38 and a beta of 0.37. Agilysys, Inc. has a one year low of $61.50 and a one year high of $145.25.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, beating analysts' consensus estimates of $0.40 by $0.09. The business had revenue of $87.68 million for the quarter, compared to analysts' expectations of $85.97 million. Agilysys had a net margin of 12.99% and a return on equity of 11.94%. The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. On average, research analysts anticipate that Agilysys, Inc. will post 1.73 earnings per share for the current fiscal year.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company NASDAQ: AGYS that specializes in providing software and services to the hospitality industry. The company's solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.

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