Agilysys, Inc. (NASDAQ:AGYS) Short Interest Up 6.9% in August

Agilysys, Inc. (NASDAQ:AGYS) was the target of a large growth in short interest during the month of August. As of August 15th, there was short interest totalling 575,700 shares, a growth of 6.9% from the July 31st total of 538,600 shares. Based on an average daily volume of 239,000 shares, the short-interest ratio is currently 2.4 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. William Blair assumed coverage on shares of Agilysys in a research report on Monday, June 24th. They set an “outperform” rating for the company. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a research report on Tuesday, July 23rd. StockNews.com downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a research report on Thursday, July 4th. Craig Hallum raised their price objective on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Finally, BTIG Research raised their price objective on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research report on Friday, July 19th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Agilysys has a consensus rating of “Moderate Buy” and a consensus target price of $122.00.

Insider Activity at Agilysys

In related news, Director Mak Capital One Llc sold 28,429 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $95.44, for a total value of $2,713,263.76. Following the completion of the sale, the director now directly owns 1,677,570 shares in the company, valued at approximately $160,107,280.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Kyle C. Badger sold 249 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $102.03, for a total value of $25,405.47. Following the completion of the sale, the senior vice president now directly owns 115,834 shares in the company, valued at approximately $11,818,543.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mak Capital One Llc sold 28,429 shares of the firm’s stock in a transaction dated Wednesday, June 5th. The shares were sold at an average price of $95.44, for a total transaction of $2,713,263.76. Following the completion of the sale, the director now owns 1,677,570 shares of the company’s stock, valued at $160,107,280.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 305,021 shares of company stock worth $28,940,187. Insiders own 23.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares in the last quarter. Wasatch Advisors LP raised its position in Agilysys by 439.5% during the first quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock valued at $84,903,000 after purchasing an additional 820,840 shares in the last quarter. Fred Alger Management LLC raised 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 purchasing an additional 17,898 shares in the last quarter. Lord Abbett & CO. LLC raised its position in Agilysys by 13.8% during the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after purchasing an additional 87,549 shares in the last quarter. Finally, Geneva Capital Management LLC raised its position in Agilysys by 10.6% during the first quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock valued at $57,805,000 after purchasing an additional 65,672 shares in the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Trading Up 0.7 %

Shares of AGYS opened at $113.10 on Tuesday. Agilysys has a 12 month low of $63.78 and a 12 month high of $114.70. The firm’s 50 day moving average is $107.19 and its 200-day moving average is $93.17. The stock has a market capitalization of $3.11 billion, a PE ratio of 35.79 and a beta of 0.82.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The company had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $64.52 million. During the same period last year, the firm earned $0.18 earnings per share. The business’s revenue for the quarter was up 13.2% on a year-over-year basis. Equities research analysts predict that Agilysys will post 0.62 earnings per share for the current fiscal year.

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.