Vanguard Group Inc. Reduces Stock Position in Agilysys, Inc. (NASDAQ:AGYS)

Vanguard Group Inc. trimmed its position in Agilysys, Inc. (NASDAQ:AGYS) by 4.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,759,378 shares of the software maker’s stock after selling 78,844 shares during the quarter. Vanguard Group Inc. owned about 6.43% of Agilysys worth $149,230,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of AGYS. Geneva Capital Management LLC increased its holdings in Agilysys by 19.9% in the 4th quarter. Geneva Capital Management LLC now owns 620,361 shares of the software maker’s stock worth $52,619,000 after buying an additional 102,939 shares during the period. Wellington Management Group LLP raised its holdings in shares of Agilysys by 159.4% during the third quarter. Wellington Management Group LLP now owns 601,776 shares of the software maker’s stock worth $39,814,000 after purchasing an additional 369,780 shares during the last quarter. Deutsche Bank AG lifted its position in Agilysys by 8.0% during the third quarter. Deutsche Bank AG now owns 219,426 shares of the software maker’s stock valued at $14,517,000 after purchasing an additional 16,180 shares during the period. Assenagon Asset Management S.A. boosted its holdings in Agilysys by 36.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 218,418 shares of the software maker’s stock valued at $18,526,000 after purchasing an additional 58,278 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Agilysys by 2.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 168,864 shares of the software maker’s stock worth $14,323,000 after purchasing an additional 3,997 shares during the period. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Price Performance

Shares of AGYS stock opened at $104.02 on Friday. Agilysys, Inc. has a 1-year low of $63.78 and a 1-year high of $105.00. The company has a market cap of $2.86 billion, a price-to-earnings ratio of 32.92 and a beta of 0.82. The stock has a 50 day simple moving average of $93.85 and a 200-day simple moving average of $85.95.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, May 13th. The software maker reported $0.32 earnings per share for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $62.22 million during the quarter, compared to analysts’ expectations of $61.95 million. Agilysys had a net margin of 36.30% and a return on equity of 15.52%. The firm’s revenue for the quarter was up 17.6% on a year-over-year basis. During the same period in the prior year, the business posted $0.26 earnings per share. Analysts anticipate that Agilysys, Inc. will post 0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Mak Capital One Llc sold 116,653 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $100.12, for a total value of $11,679,298.36. Following the transaction, the director now owns 1,903,850 shares in the company, valued at $190,613,462. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, SVP Kyle C. Badger sold 8,948 shares of the company’s stock in a transaction on Thursday, May 16th. The shares were sold at an average price of $99.15, for a total transaction of $887,194.20. Following the completion of the sale, the senior vice president now owns 166,943 shares of the company’s stock, valued at $16,552,398.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Mak Capital One Llc sold 116,653 shares of the firm’s stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $100.12, for a total transaction of $11,679,298.36. Following the completion of the transaction, the director now directly owns 1,903,850 shares in the company, valued at $190,613,462. The disclosure for this sale can be found here. In the last three months, insiders have sold 700,935 shares of company stock worth $67,375,071. Insiders own 23.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AGYS. StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday. Needham & Company LLC upped their price objective on Agilysys from $100.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, May 23rd. Oppenheimer lifted their target price on shares of Agilysys from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Finally, William Blair assumed coverage on shares of Agilysys in a report on Monday, June 24th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Agilysys has an average rating of “Moderate Buy” and an average target price of $103.33.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.