Summit Creek Advisors LLC Makes New Investment in Agilysys, Inc. (NASDAQ:AGYS)

Key Points

• Summit Creek Advisors LLC has acquired 91,348 shares of Agilysys, Inc. for approximately $6,626,000, marking a new investment according to their recent SEC filing.
• Major institutional investors such as Vanguard Group and FMR LLC have also increased their stakes significantly, indicating strong confidence in Agilysys.
• Despite missing earnings estimates at $0.33 EPS for the recent quarter, Agilysys reported a 20.7% year-over-year revenue increase to $76.68 million.

Summit Creek Advisors LLC purchased a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 91,348 shares of the software maker's stock, valued at approximately $6,626,000. Summit Creek Advisors LLC owned approximately 0.33% of Agilysys as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Agilysys Price Performance

NASDAQ AGYS opened at $116.89 on Monday. Agilysys, Inc. has a 52 week low of $63.71 and a 52 week high of $142.64. The firm has a market capitalization of $3.28 billion, a P/E ratio of 233.78 and a beta of 0.75. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.04. The company has a 50-day moving average price of $110.83 and a 200-day moving average price of $92.54.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its earnings results on Monday, July 21st. The software maker reported $0.33 EPS for the quarter, missing analysts' consensus estimates of $0.36 by ($0.03). Agilysys had a return on equity of 11.13% and a net margin of 4.85%. The firm had revenue of $76.68 million for the quarter, compared to the consensus estimate of $74.42 million. During the same quarter in the previous year, the business posted $0.30 EPS. Agilysys's revenue was up 20.7% on a year-over-year basis. Equities research analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Insider Activity

In other Agilysys news, insider Chris J. Robertson sold 258 shares of the stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $113.39, for a total transaction of $29,254.62. Following the completion of the sale, the insider directly owned 21,137 shares of the company's stock, valued at $2,396,724.43. This trade represents a 1.21% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director John Mutch sold 500 shares of the stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $110.83, for a total transaction of $55,415.00. Following the sale, the director directly owned 31,404 shares of the company's stock, valued at approximately $3,480,505.32. This trade represents a 1.57% 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 worth $158,033 in the last quarter. 8.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

AGYS has been the topic of several analyst reports. Oppenheimer lifted their target price on shares of Agilysys from $90.00 to $120.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 22nd. Needham & Company LLC reaffirmed a "buy" rating and issued a $105.00 target price (up from $100.00) on shares of Agilysys in a research note on Tuesday, May 20th. Northland Securities set a $152.00 target price on shares of Agilysys in a research note on Tuesday, May 20th. Finally, Cantor Fitzgerald initiated coverage on shares of Agilysys in a research note on Tuesday, June 3rd. They issued an "overweight" rating and a $125.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat, Agilysys presently has a consensus rating of "Moderate Buy" and a consensus price target of $120.86.

About Agilysys

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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