Pacer Advisors Inc. Trims Stake in Agilysys, Inc. (NASDAQ:AGYS)

Pacer Advisors Inc. cut its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 23.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,443 shares of the software maker’s stock after selling 758 shares during the period. Pacer Advisors Inc.’s holdings in Agilysys were worth $322,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Advisors Asset Management Inc. raised its holdings in Agilysys by 117.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after purchasing an additional 182 shares during the period. Harbor Investment Advisory LLC raised its stake in shares of Agilysys by 109.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after buying an additional 193 shares during the period. GAMMA Investing LLC lifted its position in shares of Agilysys by 66.7% during the 3rd quarter. GAMMA Investing LLC now owns 415 shares of the software maker’s stock valued at $45,000 after buying an additional 166 shares in the last quarter. NBC Securities Inc. bought a new position in shares of Agilysys during the 3rd quarter valued at approximately $46,000. Finally, Exchange Traded Concepts LLC increased its holdings in Agilysys by 76.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock worth $52,000 after acquiring an additional 205 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on AGYS. Craig Hallum dropped their price target on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Needham & Company LLC cut their price target on Agilysys from $145.00 to $125.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. Northland Securities boosted their price objective on Agilysys from $145.00 to $186.00 and gave the company an “outperform” rating in a research report on Tuesday, January 7th. Oppenheimer cut their target price on Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. Finally, BTIG Research boosted their price target on Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. One research 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, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.00.

Agilysys Trading Up 2.5 %

Shares of Agilysys stock opened at $87.28 on Wednesday. Agilysys, Inc. has a twelve month low of $74.03 and a twelve month high of $142.64. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The business has a 50-day moving average price of $125.55 and a 200-day moving average price of $116.00. The firm has a market cap of $2.44 billion, a price-to-earnings ratio of 109.10 and a beta of 0.93.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $69.60 million during the quarter, compared to analysts’ expectations of $73.15 million. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The firm’s revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.35 EPS. Equities research analysts anticipate that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO William David Wood III sold 1,870 shares of the business’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $134.01, for a total transaction of $250,598.70. Following the transaction, the chief financial officer now owns 47,609 shares of the company’s stock, valued at approximately $6,380,082.09. The trade was a 3.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Chris J. Robertson sold 729 shares of the firm’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $134.01, for a total value of $97,693.29. Following the completion of the sale, the insider now owns 21,895 shares of the company’s stock, valued at approximately $2,934,148.95. This represents a 3.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 75,799 shares of company stock worth $9,541,833. Insiders own 19.30% of the company’s stock.

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.