NewEdge Advisors LLC Raises Stock Position in Agilysys, Inc. (NASDAQ:AGYS)

NewEdge Advisors LLC increased its position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 151.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,038 shares of the software maker's stock after purchasing an additional 4,243 shares during the period. NewEdge Advisors LLC's holdings in Agilysys were worth $927,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of AGYS. Vanguard Group Inc. grew its holdings 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 valued at $290,983,000 after buying an additional 58,926 shares during the last quarter. Lord Abbett & CO. LLC lifted its position in Agilysys by 47.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker's stock valued at $115,383,000 after acquiring an additional 340,424 shares in the last quarter. FMR LLC increased its holdings in Agilysys by 58.3% during the 4th quarter. FMR LLC now owns 800,521 shares of the software maker's stock worth $105,437,000 after purchasing an additional 294,831 shares in the last quarter. Invesco Ltd. raised 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 purchasing an additional 585,886 shares during the last quarter. Finally, Franklin Resources Inc. lifted its holdings in shares of Agilysys by 521.7% in the fourth quarter. Franklin Resources Inc. now owns 610,028 shares of the software maker's stock valued at $80,347,000 after purchasing an additional 511,900 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company's stock.

Insider Buying and Selling at Agilysys

In other news, Director John Mutch sold 2,000 shares of the company's stock in a transaction on Friday, March 7th. The stock was sold at an average price of $77.87, for a total transaction of $155,740.00. Following the transaction, the director now owns 32,654 shares of the company's stock, valued at $2,542,766.98. This represents a 5.77 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 19.30% of the company's stock.

Analysts Set New Price Targets

AGYS has been the subject of a number of analyst reports. Craig Hallum lowered their price target on Agilysys from $125.00 to $120.00 and set a "buy" rating for the company in a research report on Wednesday, January 22nd. Oppenheimer lowered their target price on shares of Agilysys from $135.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. Northland Securities raised their price target on shares of Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. UBS Group set a $100.00 price objective on shares of Agilysys in a research report on Wednesday, March 5th. Finally, Needham & Company LLC dropped their target price on shares of Agilysys from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Agilysys has a consensus rating of "Moderate Buy" and a consensus target price of $120.00.

Agilysys Stock Performance

AGYS traded up $1.27 during trading on Thursday, hitting $75.62. 35,140 shares of the company traded hands, compared to its average volume of 260,718. Agilysys, Inc. has a one year low of $63.71 and a one year high of $142.64. The stock's fifty day moving average is $73.84 and its 200 day moving average is $101.97. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The firm has a market cap of $2.11 billion, a P/E ratio of 94.90 and a beta of 0.64.

Agilysys 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.