Principal Financial Group Inc. Sells 13,431 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Principal Financial Group Inc. lessened its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 3.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 413,043 shares of the software maker's stock after selling 13,431 shares during the quarter. Principal Financial Group Inc. owned about 1.48% of Agilysys worth $29,962,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smartleaf Asset Management LLC increased its stake in Agilysys by 381.8% in the 4th 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. Atria Investments Inc bought a new stake in Agilysys in the 4th quarter worth approximately $315,000. Two Sigma Advisers LP increased its stake in Agilysys by 11.6% in the 4th quarter. Two Sigma Advisers LP now owns 4,800 shares of the software maker's stock worth $632,000 after acquiring an additional 500 shares during the last quarter. Fifth Third Bancorp increased its stake in Agilysys by 22.9% in the 1st quarter. Fifth Third Bancorp now owns 6,008 shares of the software maker's stock worth $436,000 after acquiring an additional 1,118 shares during the last quarter. Finally, SG Americas Securities LLC increased its position in shares of Agilysys by 366.5% during the 1st quarter. SG Americas Securities LLC now owns 19,555 shares of the software maker's stock valued at $1,419,000 after purchasing an additional 15,363 shares during the last quarter. Institutional investors own 88.00% of the company's stock.

Insider Transactions at Agilysys

In other Agilysys news, insider Chris J. Robertson sold 258 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total value of $29,254.62. Following the completion of the sale, the insider directly owned 21,137 shares in the company, valued at approximately $2,396,724.43. This represents a 1.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Kyle C. Badger sold 326 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total value of $36,965.14. Following the completion of the sale, the senior vice president owned 114,791 shares of the company's stock, valued at $13,016,151.49. This represents a 0.28% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,405 shares of company stock valued at $158,033 over the last 90 days. 19.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. Needham & Company LLC reissued a "buy" rating and set a $105.00 target price (up previously from $100.00) on shares of Agilysys in a research report on Tuesday, May 20th. Cantor Fitzgerald assumed coverage on Agilysys in a research report on Tuesday, June 3rd. They set an "overweight" rating and a $125.00 target price on the stock. Northland Securities set a $152.00 target price on Agilysys in a research report on Tuesday, May 20th. Finally, Oppenheimer cut their target price on Agilysys from $135.00 to $90.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $116.57.

Agilysys Trading Down 1.1%

AGYS traded down $1.29 during trading hours on Friday, reaching $113.92. 160,731 shares of the company's stock traded hands, compared to its average volume of 271,557. The firm has a 50-day moving average price of $103.29 and a 200 day moving average price of $94.55. 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 1.07, a current ratio of 1.11 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $3.19 billion, a PE ratio of 137.25 and a beta of 0.75.

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