Riverbridge Partners LLC Takes Position in Agilysys, Inc. (NASDAQ:AGYS)

Riverbridge Partners LLC purchased a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 453,717 shares of the software maker's stock, valued at approximately $32,913,000. Riverbridge Partners LLC owned 1.62% of Agilysys as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of Agilysys by 2.7% during the fourth quarter. Vanguard Group Inc. now owns 2,209,274 shares of the software maker's stock valued at $290,983,000 after acquiring an additional 58,926 shares during the period. Lord Abbett & CO. LLC lifted its stake in shares of Agilysys by 10.3% during the fourth quarter. Lord Abbett & CO. LLC now owns 1,167,685 shares of the software maker's stock valued at $153,796,000 after acquiring an additional 108,827 shares during the period. FMR LLC lifted its stake in shares of Agilysys by 58.3% during the fourth quarter. FMR LLC now owns 800,521 shares of the software maker's stock valued at $105,437,000 after acquiring an additional 294,831 shares during the period. Conestoga Capital Advisors LLC increased its holdings in Agilysys by 105.2% in the first quarter. Conestoga Capital Advisors LLC now owns 731,039 shares of the software maker's stock valued at $53,030,000 after purchasing an additional 374,800 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in Agilysys by 412.9% in the fourth quarter. Invesco Ltd. now owns 727,794 shares of the software maker's stock valued at $95,858,000 after purchasing an additional 585,886 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company's stock.

Agilysys Stock Down 0.8%

Shares of Agilysys stock opened at $108.47 on Friday. Agilysys, Inc. has a 1 year low of $63.71 and a 1 year high of $142.64. The business has a 50-day moving average of $90.28 and a two-hundred day moving average of $96.59. The company has a market capitalization of $3.04 billion, a P/E ratio of 130.69 and a beta of 0.74. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.11 and a quick ratio of 1.07.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its quarterly earnings results on Monday, May 19th. The software maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $71.43 million. During the same period in the prior year, the company earned $0.32 earnings per share. The company's revenue for the quarter was up 19.4% compared to the same quarter last year. As a group, equities analysts predict that Agilysys, Inc. will post 0.8 EPS for the current year.

Analyst Ratings Changes

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

Insider Buying and Selling

In related news, Director John Mutch sold 500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $110.83, for a total transaction of $55,415.00. Following the completion of the transaction, the director now directly owns 31,404 shares in the company, valued at approximately $3,480,505.32. This trade represents a 1.57% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.30% of the stock is owned by corporate insiders.

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.

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