Punch & Associates Investment Management Inc. Acquires Shares of 159,080 Agilysys, Inc. $AGYS

Key Points

• Punch & Associates acquired 159,080 Agilysys shares during the second quarter, valued at approximately $16.6 million and representing a 0.56% stake. Institutional investors collectively own 88% of the company.
• Agilysys reported quarterly EPS of $0.49, exceeding the $0.40 analyst consensus, while revenue rose 14.3% year over year to $87.68 million. The stock opened at $114.61, with a market capitalization of approximately $3.23 billion.
• Analyst sentiment remains favorable, with five Buy ratings and three Holds producing a “Moderate Buy” consensus and an average price target of $124.60. However, insiders have sold 211,810 shares worth about $22.9 million over the past 90 days.

Punch & Associates Investment Management Inc. acquired a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 159,080 shares of the software maker's stock, valued at approximately $16,624,000. Punch & Associates Investment Management Inc. owned 0.56% of Agilysys as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in AGYS. ProShare Advisors LLC increased its stake in Agilysys by 3.1% during the 4th 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. grew its stake in shares of Agilysys by 30.1% during the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock valued at $50,000 after acquiring an additional 159 shares in the last quarter. Glenmede Trust Co. NA increased its position in shares of Agilysys by 3.1% during the first quarter. Glenmede Trust Co. NA now owns 5,518 shares of the software maker's stock worth $393,000 after acquiring an additional 165 shares during the last quarter. NewEdge Advisors LLC lifted its stake in shares of Agilysys by 4.5% in the fourth quarter. NewEdge Advisors LLC now owns 3,947 shares of the software maker's stock worth $469,000 after acquiring an additional 170 shares in the last quarter. Finally, Caitong International Asset Management Co. Ltd boosted its holdings in Agilysys by 419.5% in the fourth 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. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Stock Performance

Agilysys stock opened at $114.61 on Thursday. The company has a 50-day simple moving average of $106.16 and a 200-day simple moving average of $86.09. The firm has a market capitalization of $3.23 billion, a P/E ratio of 75.90 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 released its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, topping 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 company's revenue for the quarter was up 14.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. As a group, sell-side analysts forecast that Agilysys, Inc. will post 1.73 earnings per share for the current year.

Insider Buying and Selling at Agilysys

In other news, SVP Kyle C. Badger sold 8,400 shares of the business's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.06, for a total transaction of $958,104.00. Following the completion of the transaction, the senior vice president directly owned 75,037 shares in the company, valued at approximately $8,558,720.22. The trade was a 10.07% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ramesh Srinivasan sold 25,000 shares of the stock in a transaction that occurred on Friday, August 7th. The stock was sold at an average price of $108.15, for a total value of $2,703,750.00. Following the completion of the transaction, the chief executive officer directly owned 610,044 shares of the company's stock, valued at $65,976,258.60. This trade represents a 3.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 211,810 shares of company stock worth $22,931,805. 8.70% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Piper Sandler upped their target price on Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a research report on Tuesday, July 28th. Zacks Research downgraded Agilysys from a "strong-buy" rating to a "hold" rating in a report on Monday, July 27th. UBS Group set a $110.00 price objective on shares of Agilysys in a report on Wednesday, June 3rd. Weiss Ratings raised shares of Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a report on Monday, July 13th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Five equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, Agilysys presently has an average rating of "Moderate Buy" and an average target price of $124.60.

About Agilysys

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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