Short Interest in Agilysys, Inc. (NASDAQ:AGYS) Declines By 24.8%

Key Points

• Short interest fell 24.8% in March to 1,215,049 shares (about 4.7% of float), leaving a short-interest ratio of roughly 3.7 days based on average daily volume.
• Insider activity included Director Melvin L. Keating buying 300 shares, insiders now own about 8.6% of the company while institutional investors hold roughly 88%.
• Wall Street sentiment is a “Moderate Buy” consensus with a target price of $141.40, well above the recent trading level around $70 per share.

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) was the target of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 1,215,049 shares, a drop of 24.8% from the February 26th total of 1,614,937 shares. Based on an average daily volume of 331,642 shares, the short-interest ratio is currently 3.7 days. Currently, 4.7% of the company's shares are sold short.

Insider Activity at Agilysys

In related news, Director Melvin L. Keating acquired 300 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The stock was acquired at an average cost of $83.62 per share, with a total value of $25,086.00. Following the completion of the purchase, the director directly owned 35,007 shares in the company, valued at approximately $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders acquired 1,000 shares of company stock worth $77,669 over the last ninety days. 8.60% of the stock is owned by insiders.

Institutional Trading of Agilysys

Institutional investors have recently modified their holdings of the company. Caitong International Asset Management Co. Ltd grew its holdings in shares of Agilysys by 419.5% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 213 shares of the software maker's stock worth $25,000 after buying an additional 172 shares in the last quarter. Global Retirement Partners LLC lifted its stake in Agilysys by 118.5% in the 3rd quarter. Global Retirement Partners LLC now owns 260 shares of the software maker's stock valued at $27,000 after acquiring an additional 141 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in Agilysys in the 4th quarter valued at approximately $34,000. Elevation Point Wealth Partners LLC acquired a new position in Agilysys during the 2nd quarter worth approximately $30,000. Finally, Farther Finance Advisors LLC boosted its position in Agilysys by 215.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 366 shares of the software maker's stock worth $39,000 after acquiring an additional 250 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on AGYS shares. BTIG Research started coverage on Agilysys in a research report on Tuesday, December 16th. They set a "neutral" rating for the company. Needham & Company LLC decreased their price objective on shares of Agilysys from $140.00 to $120.00 and set a "buy" rating for the company in a report on Tuesday, February 17th. Zacks Research raised shares of Agilysys from a "strong sell" rating to a "hold" rating in a research note on Thursday, February 26th. Oppenheimer increased their target price on shares of Agilysys from $130.00 to $140.00 and gave the stock an "outperform" rating in a report on Thursday, December 4th. Finally, UBS Group reissued a "buy" rating on shares of Agilysys in a report on Monday, December 15th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $141.40.

Agilysys Stock Performance

Shares of AGYS opened at $70.37 on Friday. The firm has a market cap of $1.98 billion, a P/E ratio of 65.77 and a beta of 0.36. Agilysys has a twelve month low of $63.71 and a twelve month high of $145.25. The firm's 50 day moving average price is $81.40 and its two-hundred day moving average price is $104.95.

Agilysys (NASDAQ:AGYS - Get Free Report) last issued its quarterly earnings data on Monday, January 26th. The software maker reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.46 by ($0.04). The company had revenue of $80.39 million for the quarter, compared to analyst estimates of $79.07 million. Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The company's revenue was up 15.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.38 earnings per share. On average, sell-side analysts anticipate that Agilysys will post 0.8 earnings per share for the current fiscal year.

Agilysys Company 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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