Arizona State Retirement System trimmed its position in shares of Agilysys, Inc. (NASDAQ:AGYS – Free Report) by 7.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,373 shares of the software maker’s stock after selling 526 shares during the period. Arizona State Retirement System’s holdings in Agilysys were worth $437,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its stake in Agilysys by 1.6% in the first quarter. BlackRock Inc. now owns 3,157,975 shares of the software maker’s stock worth $125,939,000 after buying an additional 50,734 shares in the last quarter. Vanguard Group Inc. raised its stake in Agilysys by 3.9% in the third quarter. Vanguard Group Inc. now owns 1,716,952 shares of the software maker’s stock worth $95,034,000 after buying an additional 64,115 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Agilysys by 72.2% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 929,473 shares of the software maker’s stock worth $73,559,000 after buying an additional 389,710 shares in the last quarter. Fred Alger Management LLC raised its stake in Agilysys by 62.5% in the first quarter. Fred Alger Management LLC now owns 916,502 shares of the software maker’s stock worth $75,621,000 after buying an additional 352,559 shares in the last quarter. Finally, State Street Corp raised its stake in Agilysys by 0.3% in the third quarter. State Street Corp now owns 754,394 shares of the software maker’s stock worth $41,756,000 after buying an additional 2,615 shares in the last quarter. 97.65% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 9th. The shares were sold at an average price of $70.91, for a total value of $70,910.00. Following the sale, the director now owns 36,358 shares in the company, valued at $2,578,145.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last quarter, insiders have sold 1,486 shares of company stock worth $112,842. 23.60% of the stock is owned by insiders.
Agilysys Stock Up 1.2 %
Agilysys (NASDAQ:AGYS – Get Free Report) last posted its quarterly earnings results on Monday, October 23rd. The software maker reported $0.25 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. Agilysys had a net margin of 6.46% and a return on equity of 23.72%. The firm had revenue of $58.62 million for the quarter, compared to analysts’ expectations of $56.80 million. During the same quarter in the prior year, the company posted $0.24 earnings per share. The business’s revenue for the quarter was up 22.8% on a year-over-year basis. As a group, sell-side analysts anticipate that Agilysys, Inc. will post 0.75 earnings per share for the current year.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on AGYS shares. Needham & Company LLC reissued a “buy” rating and issued a $92.00 price target on shares of Agilysys in a research note on Tuesday, October 24th. Oppenheimer decreased their target price on shares of Agilysys from $105.00 to $85.00 and set an “outperform” rating for the company in a research note on Tuesday, July 25th. Northland Securities decreased their target price on shares of Agilysys from $90.00 to $85.00 and set an “outperform” rating for the company in a research note on Tuesday, July 25th. StockNews.com raised shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Tuesday, October 24th. Finally, TheStreet raised shares of Agilysys from a “c” rating to a “b-” rating in a research note on Tuesday, October 24th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $88.40.
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.
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