Summit Creek Advisors LLC Invests $4.58 Million in Agilysys, Inc. $AGYS

Key Points

• Summit Creek Advisors purchased 43,779 Agilysys shares worth approximately $4.58 million, representing about 0.16% of the company. Institutional investors collectively own 88% of Agilysys.
• Analysts maintain a generally positive outlook, with five Buy ratings and three Holds producing a consensus “Moderate Buy” rating and a $124.60 price target.
• Agilysys exceeded quarterly expectations with EPS of $0.49 versus $0.40 expected and revenue of $87.68 million, up 14.3% year over year; however, insiders sold approximately $21.3 million of stock over the past 90 days.

Summit Creek Advisors LLC bought a new position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 43,779 shares of the software maker's stock, valued at approximately $4,575,000. Summit Creek Advisors LLC owned about 0.16% of Agilysys as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in AGYS. BlackRock Inc. purchased a new stake in Agilysys in the 2nd quarter worth approximately $431,704,000. Capital Research Global Investors purchased a new position in Agilysys in the 4th quarter worth approximately $104,878,000. Wellington Management Group LLP grew its holdings in Agilysys by 75.9% during the 3rd quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker's stock valued at $72,675,000 after buying an additional 297,846 shares in the last quarter. Wasatch Advisors LP raised its position in shares of Agilysys by 33.0% during the first quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker's stock valued at $67,848,000 after buying an additional 236,373 shares during the last quarter. Finally, Deutsche Bank AG bought a new stake in shares of Agilysys during the second quarter valued at approximately $21,593,000. Institutional investors own 88.00% of the company's stock.

Insiders Place Their Bets

In related news, CEO Ramesh Srinivasan sold 25,000 shares of the stock in a transaction on Friday, August 7th. The stock was sold at an average price of $108.15, for a total transaction of $2,703,750.00. Following the sale, the chief executive officer owned 610,044 shares in the company, valued at approximately $65,976,258.60. This represents a 3.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders sold 197,410 shares of company stock worth $21,285,381. Corporate insiders own 8.70% of the company's stock.

Wall Street Analyst Weigh In

AGYS has been the subject of a number of research reports. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Agilysys in a research note on Tuesday, July 28th. Piper Sandler increased their price objective on shares of Agilysys from $110.00 to $120.00 and gave the company an "overweight" rating in a report on Tuesday, July 28th. Zacks Research lowered Agilysys from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 27th. Needham & Company LLC lifted their target price on Agilysys from $130.00 to $135.00 and gave the stock a "buy" rating in a report on Monday, August 10th. Finally, UBS Group set a $110.00 target price on Agilysys in a research report on Wednesday, June 3rd. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $124.60.

Agilysys Stock Up 0.6%

Shares of NASDAQ:AGYS opened at $111.96 on Wednesday. The firm has a fifty day simple moving average of $103.15 and a two-hundred day simple moving average of $84.89. Agilysys, Inc. has a 52 week low of $61.50 and a 52 week high of $145.25. The stock has a market capitalization of $3.16 billion, a P/E ratio of 74.15 and a beta of 0.37.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its earnings results on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.40 by $0.09. The firm 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 business's revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.33 EPS. On average, analysts expect that Agilysys, Inc. will post 1.73 earnings per share for the current year.

Agilysys 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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