Redwood Investments LLC Purchases 31,951 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Redwood Investments LLC raised its position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 148.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,529 shares of the software maker's stock after acquiring an additional 31,951 shares during the quarter. Agilysys makes up 1.9% of Redwood Investments LLC's investment portfolio, making the stock its 8th largest position. Redwood Investments LLC owned 0.19% of Agilysys worth $7,050,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Harbor Investment Advisory LLC lifted its position in Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker's stock valued at $49,000 after purchasing an additional 193 shares in the last quarter. Smartleaf Asset Management LLC grew its stake in Agilysys by 381.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker's stock worth $57,000 after purchasing an additional 336 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Agilysys in the fourth quarter valued at about $61,000. Assetmark Inc. purchased a new stake in shares of Agilysys in the 4th quarter worth approximately $115,000. Finally, Huntington National Bank increased its holdings in shares of Agilysys by 319.1% in the 4th 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 period. Institutional investors own 88.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on AGYS. Craig Hallum cut their price objective on shares of Agilysys from $125.00 to $120.00 and set a "buy" rating on the stock in a report on Wednesday, January 22nd. UBS Group set a $100.00 target price on Agilysys in a report on Wednesday, March 5th. Needham & Company LLC upped their price objective on shares of Agilysys from $100.00 to $105.00 and gave the company a "buy" rating in a report on Tuesday. Finally, Oppenheimer decreased their price target on Agilysys from $135.00 to $90.00 and set an "outperform" rating for the company in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Agilysys has an average rating of "Moderate Buy" and a consensus price target of $120.83.

Agilysys Stock Up 22.0%

Agilysys stock traded up $18.28 during midday trading on Tuesday, reaching $101.30. The company's stock had a trading volume of 767,990 shares, compared to its average volume of 327,925. The company has a market cap of $2.83 billion, a P/E ratio of 126.61 and a beta of 0.58. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. Agilysys, Inc. has a fifty-two week low of $63.71 and a fifty-two week high of $142.64. The business has a 50-day simple moving average of $74.28 and a 200-day simple moving average of $98.95.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings results on Monday, May 19th. The software maker reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.26 by $0.28. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The firm had revenue of $74.27 million for the quarter, compared to analyst estimates of $71.43 million. During the same quarter last year, the company posted $0.32 earnings per share. The business's revenue was up 19.4% on a year-over-year basis. On average, research analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Insider Activity

In other news, Director John Mutch sold 750 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $75.33, for a total value of $56,497.50. Following the completion of the transaction, the director now owns 31,904 shares in the company, valued at $2,403,328.32. This trade represents a 2.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 19.30% of the company's stock.

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.