M&T Bank Corp Sells 13,704 Shares of Agilysys, Inc. (NASDAQ:AGYS)

M&T Bank Corp reduced its stake in Agilysys, Inc. (NASDAQ:AGYS) by 66.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,832 shares of the software maker’s stock after selling 13,704 shares during the period. M&T Bank Corp’s holdings in Agilysys were worth $495,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Harbor Investment Advisory LLC lifted its position in shares of Agilysys by 64.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker’s stock valued at $44,000 after acquiring an additional 239 shares during the period. Mpwm Advisory Solutions LLC bought a new stake in Agilysys during the fourth quarter worth about $64,000. Cloud Capital Management LLC acquired a new stake in Agilysys during the first quarter worth about $86,000. Huntington National Bank increased its holdings in Agilysys by 319.1% in the 4th quarter. Huntington National Bank now owns 922 shares of the software maker’s stock valued at $121,000 after buying an additional 702 shares during the period. Finally, Canada Pension Plan Investment Board bought a new position in Agilysys in the 4th quarter valued at about $145,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Insider Activity

In other news, CFO William David Wood III sold 321 shares of Agilysys stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total value of $36,398.19. Following the completion of the transaction, the chief financial officer directly owned 47,288 shares of the company’s stock, valued at approximately $5,361,986.32. This trade represents a 0.67% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Chris J. Robertson sold 258 shares of the company’s stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $113.39, for a total value of $29,254.62. Following the sale, the insider owned 21,137 shares in the company, valued at approximately $2,396,724.43. The trade was a 1.21% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,405 shares of company stock valued at $158,033. 19.30% of the stock is owned by corporate insiders.

Agilysys Trading Up 3.6%

NASDAQ AGYS opened at $116.91 on Thursday. Agilysys, Inc. has a 12 month low of $63.71 and a 12 month high of $142.64. The company has a current ratio of 1.11, a quick ratio of 1.07 and a debt-to-equity ratio of 0.09. The firm has a market capitalization of $3.28 billion, a PE ratio of 140.86 and a beta of 0.75. The business’s 50-day moving average price is $106.33 and its two-hundred day moving average price is $93.90.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, May 19th. The software maker reported $0.54 EPS for the quarter, beating the consensus estimate of $0.26 by $0.28. The business had revenue of $74.27 million for the quarter, compared to analysts’ expectations of $71.43 million. Agilysys had a return on equity of 11.24% and a net margin of 8.43%. The firm’s revenue was up 19.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.32 earnings per share. On average, analysts expect that Agilysys, Inc. will post 0.8 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AGYS shares. Cantor Fitzgerald started coverage on shares of Agilysys in a research report on Tuesday, June 3rd. They set an “overweight” rating and a $125.00 price target on the stock. Northland Securities set a $152.00 price target on Agilysys in a research note on Tuesday, May 20th. Oppenheimer cut their price objective on Agilysys from $135.00 to $90.00 and set an “outperform” rating on the stock in a report on Wednesday, April 9th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Agilysys currently has a consensus rating of “Moderate Buy” and an average price target of $116.57.

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.