William Blair Investment Management LLC Makes New Investment in Agilysys, Inc. $AGYS

Key Points

• William Blair Investment Management bought 433,604 Agilysys shares worth approximately $45.3 million, giving it a 1.54% stake. Institutional investors collectively own 88% of the company.
• Analysts maintain a generally positive outlook, with five Buy and three Hold ratings, an overall “Moderate Buy” consensus, and an average price target of $124.60.
• Agilysys exceeded quarterly expectations, reporting $0.49 in earnings per share versus a $0.40 estimate and $87.68 million in revenue, up 14.3% year over year. However, insiders sold 211,810 shares worth roughly $22.9 million over the past 90 days.

William Blair Investment Management LLC purchased a new stake in Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 433,604 shares of the software maker's stock, valued at approximately $45,312,000. William Blair Investment Management LLC owned 1.54% of Agilysys at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. Advisors Asset Management Inc. lifted its position in Agilysys by 30.1% during the first quarter. Advisors Asset Management Inc. now owns 688 shares of the software maker's stock worth $50,000 after acquiring an additional 159 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Agilysys by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,395 shares of the software maker's stock valued at $972,000 after purchasing an additional 569 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of Agilysys by 125.0% in the first quarter. Goldman Sachs Group Inc. now owns 331,953 shares of the software maker's stock valued at $24,080,000 after purchasing an additional 184,402 shares during the last quarter. Jane Street Group LLC increased its stake in shares of Agilysys by 1,025.2% during the first quarter. Jane Street Group LLC now owns 37,750 shares of the software maker's stock worth $2,738,000 after purchasing an additional 34,395 shares during the period. Finally, Cetera Investment Advisers bought a new position in shares of Agilysys during the second quarter worth approximately $231,000. 88.00% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Needham & Company LLC boosted their price target on Agilysys from $130.00 to $135.00 and gave the company a "buy" rating in a research note on Monday, August 10th. Weiss Ratings upgraded Agilysys from a "hold (c-)" rating to a "hold (c)" rating in a research report on Monday, July 13th. 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 target price on shares of Agilysys in a research report on Wednesday, June 3rd. Finally, Oppenheimer restated an "outperform" rating and issued a $118.00 price target on shares of Agilysys in a research note on Tuesday, July 28th. Five research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $124.60.

Insiders Place Their Bets

In other news, SVP Kyle C. Badger sold 8,400 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the transaction, the senior vice president owned 75,037 shares of the company's stock, valued at approximately $8,558,720.22. This represents a 10.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 106,205 shares of the firm's stock in a transaction that occurred on Thursday, August 6th. The shares were sold at an average price of $106.62, for a total transaction of $11,323,577.10. Following the completion of the sale, the chief executive officer owned 635,044 shares in the company, valued at approximately $67,708,391.28. The trade was a 14.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 211,810 shares of company stock valued at $22,931,805. 8.70% of the stock is currently owned by corporate insiders.

Agilysys Stock Performance

Agilysys stock opened at $113.80 on Friday. 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 $3.21 billion, a P/E ratio of 75.36 and a beta of 0.37. The stock has a fifty day moving average of $104.56 and a 200-day moving average of $85.50.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.09. The business had revenue of $87.68 million during 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%.Agilysys's revenue for the quarter was up 14.3% on a year-over-year basis. During the same period in the prior year, the company earned $0.33 EPS. On average, research analysts forecast 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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