Penn Capital Management Company LLC Purchases 36,828 Shares of Agilysys, Inc. $AGYS

Key Points

• Penn Capital Management increased its Agilysys position by 18.9%, purchasing 36,828 shares to hold 231,237 shares worth approximately $24.2 million. Institutional investors collectively own 88% of the company.
• Agilysys reported quarterly earnings of $0.49 per share, beating estimates of $0.40, while revenue rose 14.3% year over year to $87.68 million. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $124.60.
• Agilysys shares opened at $117.88, with a market capitalization of $3.33 billion; however, insiders sold $22.9 million worth of stock over the past 90 days, including sales by the CEO and CFO.

Penn Capital Management Company LLC raised its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 18.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,237 shares of the software maker's stock after purchasing an additional 36,828 shares during the period. Agilysys makes up approximately 1.5% of Penn Capital Management Company LLC's investment portfolio, making the stock its 14th biggest position. Penn Capital Management Company LLC owned 0.82% of Agilysys worth $24,208,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Caitong International Asset Management Co. Ltd increased its stake in shares of Agilysys by 419.5% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker's stock valued at $25,000 after purchasing an additional 172 shares during the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Agilysys during the 4th quarter worth $34,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Agilysys during the 3rd quarter worth $43,000. Versant Capital Management Inc boosted its stake in Agilysys by 123.9% in the second quarter. Versant Capital Management Inc now owns 421 shares of the software maker's stock valued at $44,000 after buying an additional 233 shares in the last quarter. Finally, Optiver Holding B.V. boosted its stake in Agilysys by 700.0% in the first quarter. Optiver Holding B.V. now owns 456 shares of the software maker's stock valued at $32,000 after buying an additional 399 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Piper Sandler lifted their price target on shares of Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Oppenheimer reiterated an "outperform" rating and set a $118.00 price objective on shares of Agilysys in a research report on Tuesday, July 28th. Weiss Ratings upgraded shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 13th. Finally, UBS Group set a $110.00 price objective on shares of Agilysys in a research note on Wednesday, June 3rd. Five equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $124.60.

Agilysys Trading Down 2.2%

Agilysys stock opened at $117.88 on Friday. The company has a market capitalization of $3.33 billion, a PE ratio of 78.07 and a beta of 0.37. Agilysys, Inc. has a 12 month low of $61.50 and a 12 month high of $145.25. The stock has a 50-day moving average price of $107.43 and a two-hundred day moving average price of $86.55.

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

Insider Buying and Selling

In other Agilysys news, CEO Ramesh Srinivasan sold 25,000 shares of the business's stock in a transaction that occurred on Friday, August 7th. The shares were sold at an average price of $108.15, for a total transaction of $2,703,750.00. Following the sale, the chief executive officer directly owned 610,044 shares of the company's stock, valued at $65,976,258.60. The trade was a 3.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO William David Wood III sold 6,000 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The shares were 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 owned 35,052 shares of the company's stock, valued at approximately $4,021,165.44. This trade represents a 14.62% 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 worth $22,931,805 in the last ninety days. Company insiders own 8.70% of the company's stock.

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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