Agilysys, Inc. $AGYS Shares Sold by Granite Investment Partners LLC

Granite Investment Partners LLC lessened its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 34.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 170,335 shares of the software maker’s stock after selling 89,611 shares during the quarter. Agilysys comprises 1.0% of Granite Investment Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Granite Investment Partners LLC owned about 0.61% of Agilysys worth $17,928,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. grew its position in shares of Agilysys by 6.4% during the third quarter. PNC Financial Services Group Inc. now owns 1,456 shares of the software maker’s stock worth $153,000 after acquiring an additional 88 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in Agilysys by 5.1% during the 3rd quarter. Nisa Investment Advisors LLC now owns 1,853 shares of the software maker’s stock worth $195,000 after purchasing an additional 90 shares during the period. Advisors Asset Management Inc. grew its position in Agilysys by 14.1% during the 2nd quarter. Advisors Asset Management Inc. now owns 785 shares of the software maker’s stock worth $90,000 after purchasing an additional 97 shares during the last quarter. Arizona State Retirement System grew its position in Agilysys by 1.3% during the 3rd quarter. Arizona State Retirement System now owns 7,834 shares of the software maker’s stock worth $825,000 after purchasing an additional 98 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Agilysys by 8.3% in the second quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,521 shares of the software maker’s stock valued at $174,000 after purchasing an additional 116 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Insider Activity at Agilysys

In other Agilysys news, Director Melvin L. Keating acquired 300 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was acquired at an average price of $83.62 per share, with a total value of $25,086.00. Following the completion of the transaction, the director directly owned 35,007 shares in the company, valued at approximately $2,927,285.34. This trade represents a 0.86% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. 8.60% of the stock is currently owned by corporate insiders.

Agilysys Price Performance

Shares of NASDAQ AGYS opened at $78.64 on Monday. The company has a 50-day simple moving average of $104.57 and a 200-day simple moving average of $111.23. The company has a market cap of $2.21 billion, a PE ratio of 73.50 and a beta of 0.41. Agilysys, Inc. has a 12 month low of $63.71 and a 12 month high of $145.25.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The firm had revenue of $80.39 million for the quarter, compared to analyst estimates of $79.07 million. Agilysys had a return on equity of 10.71% and a net margin of 9.79%.The firm’s revenue was up 15.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.38 EPS. On average, analysts anticipate that Agilysys, Inc. will post 0.8 EPS for the current year.

Analyst Ratings Changes

Several brokerages have recently weighed in on AGYS. UBS Group reiterated a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Weiss Ratings reiterated a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Cantor Fitzgerald reissued an “overweight” rating and issued a $140.00 target price on shares of Agilysys in a report on Tuesday, October 28th. Needham & Company LLC decreased their price target on Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a report on Tuesday, February 17th. Finally, Zacks Research downgraded shares of Agilysys from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 28th. Four research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $141.40.

Agilysys Company Profile

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.