Agilysys, Inc. (NASDAQ:AGYS) Sees Significant Increase in Short Interest

Agilysys, Inc. (NASDAQ:AGYS) was the recipient of a significant increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,120,000 shares, an increase of 23.3% from the November 30th total of 908,700 shares. Based on an average trading volume of 213,700 shares, the days-to-cover ratio is currently 5.2 days.

Analyst Ratings Changes

A number of analysts have recently commented on AGYS shares. StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Northland Securities reissued an “outperform” rating and issued a $145.00 price objective (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Needham & Company LLC increased their price objective on Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a research report on Friday, November 15th. BTIG Research raised their target price on shares of Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a report on Tuesday, October 29th. Finally, Oppenheimer boosted their price target on Agilysys from $135.00 to $150.00 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Agilysys presently has an average rating of “Moderate Buy” and a consensus price target of $137.80.

Agilysys Stock Performance

NASDAQ AGYS traded down $1.48 during trading on Monday, hitting $134.10. 24,624 shares of the company’s stock traded hands, compared to its average volume of 215,764. The stock has a market capitalization of $3.75 billion, a price-to-earnings ratio of 38.21 and a beta of 0.93. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. The business has a 50 day moving average of $125.16 and a 200-day moving average of $113.15. Agilysys has a 12-month low of $73.52 and a 12-month high of $142.64.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. The company had revenue of $68.30 million during 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%. Agilysys’s revenue was up 16.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.25 earnings per share. As a group, equities research analysts anticipate that Agilysys will post 0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO William David Wood III sold 1,870 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $134.01, for a total value of $250,598.70. Following the completion of the sale, the chief financial officer now directly owns 47,609 shares in the company, valued at approximately $6,380,082.09. The trade was a 3.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Chris J. Robertson sold 264 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $26,627.04. Following the completion of the sale, the insider now directly owns 22,624 shares of the company’s stock, valued at $2,281,856.64. This represents a 1.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,122 shares of company stock valued at $1,231,391 over the last quarter. Insiders own 19.30% of the company’s stock.

Institutional Investors Weigh In On Agilysys

Institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC lifted its position in shares of Agilysys by 47.4% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker’s stock worth $115,383,000 after purchasing an additional 340,424 shares during the period. Fred Alger Management LLC lifted its position in Agilysys by 1.9% during the second quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock valued at $97,689,000 after buying an additional 17,898 shares during the period. State Street Corp grew its position in shares of Agilysys by 5.0% in the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker’s stock worth $100,124,000 after buying an additional 43,760 shares during the period. Geneva Capital Management LLC lifted its position in Agilysys by 0.4% during the 3rd quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker’s stock valued at $73,597,000 after acquiring an additional 2,687 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of Agilysys by 6.2% during the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after purchasing an additional 30,655 shares during the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

About Agilysys

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.