Envestnet Asset Management Inc. Increases Stock Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Envestnet Asset Management Inc. lifted its position in Agilysys, Inc. (NASDAQ:AGYS) by 32.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,646 shares of the software maker’s stock after purchasing an additional 34,660 shares during the quarter. Envestnet Asset Management Inc. owned about 0.50% of Agilysys worth $10,202,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Mpwm Advisory Solutions LLC purchased a new stake in shares of Agilysys in the fourth quarter valued at about $64,000. Harbor Investment Advisory LLC grew its holdings in shares of Agilysys by 64.6% in the first quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker’s stock valued at $44,000 after purchasing an additional 239 shares during the period. Huntington National Bank grew its holdings in shares of Agilysys by 319.1% in the fourth quarter. Huntington National Bank now owns 922 shares of the software maker’s stock valued at $121,000 after purchasing an additional 702 shares during the period. Canada Pension Plan Investment Board purchased a new stake in shares of Agilysys in the fourth quarter valued at about $145,000. Finally, Cloud Capital Management LLC purchased a new stake in shares of Agilysys in the first quarter valued at about $86,000. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald assumed coverage on shares of Agilysys in a report on Tuesday, June 3rd. They issued an “overweight” rating and a $125.00 price objective for the company. Northland Securities set a $152.00 target price on shares of Agilysys in a research note on Tuesday, May 20th. Oppenheimer dropped their price target on shares of Agilysys from $135.00 to $90.00 and set an “outperform” rating for the company in a research report on Wednesday, April 9th. Finally, Needham & Company LLC restated a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Agilysys in a report on Tuesday, May 20th. One analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Agilysys presently has a consensus rating of “Moderate Buy” and an average price target of $116.57.

Insider Buying and Selling at Agilysys

In related news, insider Chris J. Robertson sold 258 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,396,724.43. This trade represents a 1.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Mutch sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $110.83, for a total transaction of $55,415.00. Following the completion of the sale, the director directly owned 31,404 shares in the company, valued at approximately $3,480,505.32. This trade represents a 1.57% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,405 shares of company stock worth $158,033 over the last ninety days. Company insiders own 19.30% of the company’s stock.

Agilysys Stock Down 3.5%

Shares of AGYS opened at $115.21 on Monday. The stock has a market capitalization of $3.23 billion, a PE ratio of 138.81 and a beta of 0.75. Agilysys, Inc. has a 1 year low of $63.71 and a 1 year high of $142.64. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.07 and a current ratio of 1.11. The company’s 50-day simple moving average is $107.79 and its 200-day simple moving average is $93.18.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings results on Monday, May 19th. The software maker reported $0.54 earnings per share (EPS) for the quarter, topping 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 net margin of 8.43% and a return on equity of 11.24%. The business’s quarterly revenue was up 19.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.32 earnings per share. Analysts forecast that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

About Agilysys

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.