JPMorgan Chase & Co. Sells 66,978 Shares of Agilysys, Inc. $AGYS

JPMorgan Chase & Co. decreased its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 19.1% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 283,462 shares of the software maker’s stock after selling 66,978 shares during the quarter. JPMorgan Chase & Co. owned about 1.01% of Agilysys worth $29,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in AGYS. PNC Financial Services Group Inc. grew its stake in shares of Agilysys by 6.4% in the third quarter. PNC Financial Services Group Inc. now owns 1,456 shares of the software maker’s stock valued at $153,000 after buying an additional 88 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Agilysys by 5.1% during the third quarter. Nisa Investment Advisors LLC now owns 1,853 shares of the software maker’s stock worth $195,000 after buying an additional 90 shares during the last quarter. Advisors Asset Management Inc. raised its position in Agilysys by 14.1% during the second quarter. Advisors Asset Management Inc. now owns 785 shares of the software maker’s stock worth $90,000 after acquiring an additional 97 shares in the last quarter. Arizona State Retirement System lifted its stake in Agilysys by 1.3% in the third quarter. Arizona State Retirement System now owns 7,834 shares of the software maker’s stock valued at $825,000 after acquiring an additional 98 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in Agilysys by 38.0% in the third quarter. GAMMA Investing LLC now owns 421 shares of the software maker’s stock valued at $44,000 after acquiring an additional 116 shares during the last quarter. Institutional investors own 88.00% of the company’s stock.

Agilysys Trading Up 1.8%

Shares of NASDAQ AGYS opened at $70.81 on Monday. The firm has a market cap of $1.99 billion, a P/E ratio of 66.18 and a beta of 0.36. The business’s 50 day moving average is $85.68 and its 200-day moving average is $106.27. Agilysys, Inc. has a 1-year low of $63.71 and a 1-year high of $145.25.

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

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Zacks Research upgraded shares of Agilysys from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 26th. Needham & Company LLC cut their target price on shares of Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a research note on Tuesday, February 17th. UBS Group reiterated a “buy” rating on shares of Agilysys in a report on Monday, December 15th. Wall Street Zen downgraded Agilysys from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Agilysys in a research note on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $141.40.

Insider Activity

In other Agilysys news, Director Melvin L. Keating purchased 300 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were acquired at an average cost of $83.62 per share, for a total transaction of $25,086.00. Following the completion of the purchase, the director owned 35,007 shares of the company’s stock, valued at approximately $2,927,285.34. The trade was a 0.86% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have bought a total of 1,000 shares of company stock valued at $77,669 over the last three months. Insiders own 8.60% of the company’s stock.

About Agilysys

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.