Agilysys, Inc. (NASDAQ:AGYS) Shares Sold by Thornburg Investment Management Inc.

Key Points

• Thornburg Investment Management Inc. reduced its stake in Agilysys by 7.4%, now holding approximately 194,390 shares valued at around $14.1 million.
• Other institutional investors, such as Two Sigma Advisers LP and Fifth Third Bancorp, have increased their holdings in Agilysys recently, highlighting continued institutional interest.
• Agilysys' most recent earnings report showed a 20.7% year-over-year increase in revenue, although it missed EPS estimates by $0.03.

Thornburg Investment Management Inc. lowered its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 7.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 194,390 shares of the software maker's stock after selling 15,584 shares during the quarter. Thornburg Investment Management Inc. owned approximately 0.70% of Agilysys worth $14,101,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in AGYS. Harbor Investment Advisory LLC increased its holdings in Agilysys by 64.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker's stock worth $44,000 after acquiring an additional 239 shares in the last quarter. Mpwm Advisory Solutions LLC bought a new position in Agilysys during the fourth quarter valued at $64,000. Cloud Capital Management LLC bought a new position in Agilysys during the first quarter valued at $86,000. Huntington National Bank increased its position in Agilysys by 319.1% during the fourth quarter. Huntington National Bank now owns 922 shares of the software maker's stock valued at $121,000 after acquiring an additional 702 shares during the last quarter. Finally, Canada Pension Plan Investment Board bought a new position in shares of Agilysys in the fourth quarter worth about $145,000. Hedge funds and other institutional investors own 88.00% of the company's stock.

Insider Activity at Agilysys

In related news, SVP Kyle C. Badger sold 326 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 value of $36,965.14. Following the completion of the transaction, the senior vice president directly owned 114,791 shares of the company's stock, valued at $13,016,151.49. This trade represents a 0.28% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 transaction, the insider directly owned 21,137 shares of the company's stock, valued at $2,396,724.43. The trade was a 1.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 1,405 shares of company stock valued at $158,033. Company insiders own 8.60% of the company's stock.

Agilysys Stock Up 0.8%

Shares of AGYS stock traded up $0.91 during mid-day trading on Friday, hitting $114.99. 252,488 shares of the stock traded hands, compared to its average volume of 320,864. The stock has a market cap of $3.22 billion, a P/E ratio of 229.98 and a beta of 0.75. The stock's fifty day moving average is $112.42 and its two-hundred day moving average is $92.72. Agilysys, Inc. has a 52-week low of $63.71 and a 52-week high of $142.64. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.11 and a quick ratio of 1.04.

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

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Oppenheimer upped their price target on shares of Agilysys from $90.00 to $120.00 and gave the stock an "outperform" rating in a report on Tuesday, July 22nd. Northland Securities set a $152.00 price target on shares of Agilysys in a report on Tuesday, May 20th. Needham & Company LLC restated a "buy" rating and issued a $105.00 price target (up from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. Finally, Cantor Fitzgerald began coverage on shares of Agilysys in a report on Tuesday, June 3rd. They set 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $120.86.

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.