Royal Bank of Canada Has $17.54 Million Holdings in Agilysys, Inc. $AGYS

Key Points

• Royal Bank of Canada reduced its Agilysys position by 13.5% in the first quarter, selling 38,518 shares and retaining 246,588 shares worth approximately $17.54 million, or 0.88% of the company.
• Institutional investors own about 88% of Agilysys; Vanguard, Wasatch Advisors, State Street, Capital Research and Wellington Management are among the company’s major institutional holders.
• Agilysys exceeded quarterly earnings and revenue expectations, reporting $0.49 EPS and $87.68 million in revenue, with revenue up 14.3% year over year. Analysts maintain a “Moderate Buy” consensus and an average price target of $123.60.

Royal Bank of Canada decreased its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 13.5% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 246,588 shares of the software maker's stock after selling 38,518 shares during the quarter. Royal Bank of Canada owned about 0.88% of Agilysys worth $17,541,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Agilysys by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker's stock valued at $286,160,000 after purchasing an additional 32,052 shares during the last quarter. Wasatch Advisors LP lifted its holdings in Agilysys by 5.3% in the second quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker's stock valued at $115,204,000 after buying an additional 50,536 shares during the period. State Street Corp lifted its holdings in Agilysys by 0.5% in the fourth quarter. State Street Corp now owns 1,003,062 shares of the software maker's stock valued at $119,204,000 after buying an additional 4,516 shares during the period. Capital Research Global Investors bought a new stake in Agilysys during the fourth quarter valued at $104,878,000. Finally, Wellington Management Group LLP boosted its position in Agilysys by 75.9% during the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker's stock valued at $72,675,000 after acquiring an additional 297,846 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company's stock.

Agilysys Price Performance

Shares of Agilysys stock opened at $107.58 on Friday. Agilysys, Inc. has a one year low of $61.50 and a one year high of $145.25. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 71.25 and a beta of 0.37. The business has a 50-day simple moving average of $99.82 and a 200 day simple moving average of $84.56.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its quarterly earnings results 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 the consensus estimate of $85.97 million. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The firm's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.33 EPS. On average, sell-side analysts expect that Agilysys, Inc. will post 1.73 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Oppenheimer reissued an "outperform" rating and issued a $118.00 price objective on shares of Agilysys in a research note on Tuesday, July 28th. Piper Sandler raised their target price on Agilysys from $110.00 to $120.00 and gave the stock an "overweight" rating in a research note 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 target on Agilysys in a research note on Wednesday, June 3rd. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Agilysys in a report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, Agilysys presently has an average rating of "Moderate Buy" and a consensus target price of $123.60.

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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