William Blair Investment Management LLC Invests $58.99 Million in Agilysys, Inc. $AGYS

Key Points

• William Blair Investment Management LLC invested approximately $58.99 million in Agilysys, acquiring 514,590 shares, which represents about 1.84% ownership of the company.
• Multiple institutional investors have increased their positions in Agilysys, indicating a strong interest in the stock, with overall institutional ownership at 88%.
• Analysts have given Agilysys an average rating of "Moderate Buy", with a consensus price target of $121.57.

William Blair Investment Management LLC purchased a new position in shares of 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 purchased 514,590 shares of the software maker's stock, valued at approximately $58,993,000. William Blair Investment Management LLC owned approximately 1.84% of Agilysys as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of AGYS. Nuveen LLC acquired a new position in shares of Agilysys during the 1st quarter worth $80,730,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. acquired a new position in shares of Agilysys during the 1st quarter worth $16,343,000. Wellington Management Group LLP raised its holdings in shares of Agilysys by 99.3% during the 1st quarter. Wellington Management Group LLP now owns 388,978 shares of the software maker's stock worth $28,216,000 after buying an additional 193,812 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in shares of Agilysys by 125.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker's stock worth $24,080,000 after buying an additional 184,402 shares in the last quarter. Finally, Penn Capital Management Company LLC acquired a new position in shares of Agilysys during the 1st quarter worth $10,337,000. Institutional investors and hedge funds own 88.00% of the company's stock.

Wall Street Analyst Weigh In

AGYS has been the subject of a number of research reports. Zacks Research upgraded Agilysys from a "strong sell" rating to a "hold" rating in a research note on Monday, September 22nd. Weiss Ratings reiterated a "hold (c)" rating on shares of Agilysys in a research note on Wednesday, October 8th. Finally, Oppenheimer increased their price target on Agilysys from $120.00 to $125.00 and gave the company an "outperform" rating in a research note on Tuesday, September 9th. Six analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $121.57.

Agilysys Stock Up 0.8%

Shares of NASDAQ:AGYS opened at $110.08 on Friday. The firm has a market cap of $3.09 billion, a P/E ratio of 220.16 and a beta of 0.61. The company has a quick ratio of 1.04, a current ratio of 1.11 and a debt-to-equity ratio of 0.04. Agilysys, Inc. has a 12-month low of $63.71 and a 12-month high of $142.64. The business has a fifty day simple moving average of $107.61 and a 200 day simple moving average of $101.24.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its earnings results on Wednesday, June 5th. The software maker reported $0.21 earnings per share (EPS) for the quarter. The business had revenue of $36.34 million during the quarter. Agilysys had a return on equity of 11.13% and a net margin of 4.85%. Analysts predict that Agilysys, Inc. will post 0.8 earnings per share for the current year.

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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