Truist Financial Corp Decreases Stake in Agilysys, Inc. (NASDAQ:AGYS)

Truist Financial Corp reduced its position in Agilysys, Inc. (NASDAQ:AGYS) by 12.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,822 shares of the software maker’s stock after selling 565 shares during the period. Truist Financial Corp’s holdings in Agilysys were worth $262,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position in Agilysys by 751.9% in the 1st quarter. Tower Research Capital LLC TRC now owns 443 shares of the software maker’s stock valued at $37,000 after buying an additional 391 shares during the last quarter. Arcadia Investment Management Corp MI lifted its position in shares of Agilysys by 131.2% during the first quarter. Arcadia Investment Management Corp MI now owns 601 shares of the software maker’s stock worth $50,000 after purchasing an additional 341 shares during the last quarter. Captrust Financial Advisors lifted its position in shares of Agilysys by 370.9% during the first quarter. Captrust Financial Advisors now owns 890 shares of the software maker’s stock worth $35,000 after purchasing an additional 701 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Agilysys during the fourth quarter worth about $80,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Agilysys by 13.3% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,185 shares of the software maker’s stock worth $94,000 after purchasing an additional 139 shares during the last quarter. 97.65% of the stock is owned by hedge funds and other institutional investors.

Agilysys Stock Performance

Agilysys stock opened at $87.22 on Tuesday. The company has a 50 day moving average price of $72.60 and a 200 day moving average price of $71.75. Agilysys, Inc. has a 52 week low of $60.59 and a 52 week high of $90.87. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 184.51 and a beta of 0.87.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, October 23rd. The software maker reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.19 by $0.06. The firm had revenue of $58.62 million during the quarter, compared to analyst estimates of $56.80 million. Agilysys had a net margin of 6.46% and a return on equity of 23.72%. The company’s revenue was up 22.8% on a year-over-year basis. During the same quarter last year, the business posted $0.24 EPS. Equities analysts forecast that Agilysys, Inc. will post 0.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

AGYS has been the topic of several research reports. Needham & Company LLC reiterated a “buy” rating and set a $92.00 price objective on shares of Agilysys in a research note on Tuesday, October 24th. StockNews.com upgraded shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Tuesday, October 24th. Oppenheimer dropped their price target on shares of Agilysys from $105.00 to $85.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 25th. TheStreet upgraded shares of Agilysys from a “c” rating to a “b-” rating in a research note on Tuesday, October 24th. Finally, Northland Securities lowered their price objective on shares of Agilysys from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Tuesday, July 25th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, Agilysys currently has a consensus rating of “Buy” and a consensus price target of $88.40.

Insiders Place Their Bets

In other Agilysys news, insider Chris J. Robertson sold 15,526 shares of the business’s stock in a transaction on Wednesday, November 8th. The shares were sold at an average price of $86.05, for a total transaction of $1,336,012.30. Following the completion of the transaction, the insider now owns 25,673 shares of the company’s stock, valued at approximately $2,209,161.65. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 16,012 shares of company stock valued at $1,377,944 in the last quarter. Insiders own 23.60% of the company’s stock.

Agilysys Profile

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.