Nuveen Asset Management LLC Raises Position in Agilysys, Inc. (NASDAQ:AGYS)

Nuveen Asset Management LLC raised its stake in Agilysys, Inc. (NASDAQ:AGYS) by 81.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 107,306 shares of the software maker’s stock after purchasing an additional 48,213 shares during the quarter. Nuveen Asset Management LLC owned 0.38% of Agilysys worth $14,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Smartleaf Asset Management LLC raised its stake in shares of Agilysys by 381.8% in the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock worth $57,000 after purchasing an additional 336 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Agilysys during the fourth quarter valued at approximately $61,000. Assetmark Inc. purchased a new stake in shares of Agilysys during the fourth quarter valued at approximately $115,000. Huntington National Bank increased its position in shares of Agilysys by 319.1% during the fourth quarter. Huntington National Bank now owns 922 shares of the software maker’s stock valued at $121,000 after acquiring an additional 702 shares during the last quarter. Finally, Canada Pension Plan Investment Board purchased a new stake in shares of Agilysys during the fourth quarter valued at approximately $145,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. UBS Group set a $100.00 price target on Agilysys in a research report on Wednesday, March 5th. Needham & Company LLC reaffirmed a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Agilysys in a research report on Tuesday, May 20th. Northland Securities set a $152.00 target price on Agilysys in a research report on Tuesday, May 20th. Finally, Oppenheimer decreased their target price on Agilysys from $135.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $115.17.

Insider Activity at Agilysys

In related news, Director John Mutch sold 2,000 shares of Agilysys stock in a transaction on Friday, March 7th. The stock was sold at an average price of $77.87, for a total transaction of $155,740.00. Following the completion of the sale, the director now owns 32,654 shares of the company’s stock, valued at approximately $2,542,766.98. This trade represents a 5.77% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 19.30% of the stock is owned by corporate insiders.

Agilysys Price Performance

Agilysys stock opened at $101.61 on Monday. Agilysys, Inc. has a one year low of $63.71 and a one year high of $142.64. The business has a fifty day moving average price of $76.47 and a 200-day moving average price of $98.71. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. The firm has a market capitalization of $2.84 billion, a P/E ratio of 127.01 and a beta of 0.58.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings results on Monday, May 19th. The software maker reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The firm had revenue of $74.27 million during the quarter, compared to analyst estimates of $71.43 million. During the same period last year, the company earned $0.32 earnings per share. The business’s revenue for the quarter was up 19.4% on a year-over-year basis. As a group, equities research analysts forecast that Agilysys, Inc. will post 0.8 EPS for the current year.

Agilysys Profile

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.