Assenagon Asset Management S.A. Sells 60,306 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Assenagon Asset Management S.A. cut its position in Agilysys, Inc. (NASDAQ:AGYS) by 30.3% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 138,901 shares of the software maker’s stock after selling 60,306 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Agilysys were worth $18,295,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. State of New Jersey Common Pension Fund D acquired a new position in shares of Agilysys in the 2nd quarter worth approximately $2,004,000. American Century Companies Inc. raised its position in Agilysys by 1,861.4% in the 2nd quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock valued at $23,026,000 after purchasing an additional 209,836 shares during the last quarter. Oppenheimer Asset Management Inc. acquired a new position in Agilysys in the second quarter worth $758,000. Envestnet Asset Management Inc. grew its holdings in shares of Agilysys by 19.5% during the second quarter. Envestnet Asset Management Inc. now owns 93,024 shares of the software maker’s stock worth $9,688,000 after purchasing an additional 15,164 shares during the last quarter. Finally, Argent Trust Co bought a new stake in shares of Agilysys during the second quarter worth $222,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Price Performance

Shares of AGYS stock opened at $121.81 on Friday. The firm’s 50 day moving average price is $131.82 and its two-hundred day moving average price is $116.44. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. Agilysys, Inc. has a 52-week low of $74.03 and a 52-week high of $142.64. The stock has a market cap of $3.40 billion, a PE ratio of 34.70 and a beta of 0.94.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.30 by $0.04. The business had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The firm’s revenue was up 16.6% on a year-over-year basis. During the same period last year, the company earned $0.25 EPS. As a group, analysts forecast that Agilysys, Inc. will post 0.81 EPS for the current year.

Wall Street Analysts Forecast Growth

AGYS has been the topic of several research reports. Northland Securities upped their price target on shares of Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Oppenheimer upped their target price on shares of Agilysys from $135.00 to $150.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Needham & Company LLC increased their price target on shares of Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 15th. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, October 31st. Finally, BTIG Research increased their price objective on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $146.00.

Insider Activity at Agilysys

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $132.98, for a total value of $997,350.00. Following the completion of the sale, the director now directly owns 270,576 shares in the company, valued at $35,981,196.48. This represents a 2.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO William David Wood III sold 588 shares of Agilysys stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $59,305.68. Following the transaction, the chief financial officer now owns 49,479 shares in the company, valued at $4,990,451.94. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 55,122 shares of company stock worth $7,099,841. 19.30% of the stock is currently owned by company insiders.

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.