Agilysys, Inc. (NASDAQ:AGYS) Sees Large Increase in Short Interest

Agilysys, Inc. (NASDAQ:AGYS) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totalling 407,300 shares, a growth of 27.1% from the May 31st total of 320,500 shares. Based on an average trading volume of 213,700 shares, the days-to-cover ratio is currently 1.9 days.

Insiders Place Their Bets

In other Agilysys news, SVP Kyle C. Badger sold 8,948 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The stock was sold at an average price of $99.15, for a total transaction of $887,194.20. Following the sale, the senior vice president now directly owns 166,943 shares of the company’s stock, valued at $16,552,398.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Agilysys news, CEO Ramesh Srinivasan sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $96.50, for a total transaction of $4,825,000.00. Following the completion of the transaction, the chief executive officer now owns 988,367 shares in the company, valued at $95,377,415.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Kyle C. Badger sold 8,948 shares of the business’s stock in a transaction that occurred on Thursday, May 16th. The shares were sold at an average price of $99.15, for a total value of $887,194.20. Following the transaction, the senior vice president now owns 166,943 shares of the company’s stock, valued at approximately $16,552,398.45. The disclosure for this sale can be found here. Insiders have sold 700,392 shares of company stock valued at $67,319,669 over the last ninety days. 23.60% of the stock is owned by insiders.

Hedge Funds Weigh In On Agilysys

A number of large investors have recently made changes to their positions in AGYS. Wasatch Advisors LP increased its position in shares of Agilysys by 439.5% during the first quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after purchasing an additional 820,840 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Agilysys by 159.4% during the third quarter. Wellington Management Group LLP now owns 601,776 shares of the software maker’s stock worth $39,814,000 after purchasing an additional 369,780 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after purchasing an additional 217,008 shares in the last quarter. Geneva Capital Management LLC increased its position in shares of Agilysys by 19.9% during the fourth quarter. Geneva Capital Management LLC now owns 620,361 shares of the software maker’s stock worth $52,619,000 after purchasing an additional 102,939 shares in the last quarter. Finally, Lord Abbett & CO. LLC increased its position in shares of Agilysys by 13.8% during the first quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after purchasing an additional 87,549 shares in the last quarter. 88.00% of the stock is owned by institutional investors and hedge funds.

Agilysys Stock Up 2.2 %

Shares of NASDAQ:AGYS opened at $104.14 on Friday. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 32.96 and a beta of 0.78. Agilysys has a 52 week low of $63.78 and a 52 week high of $105.00. The firm has a 50 day moving average of $92.24 and a 200 day moving average of $85.37.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, May 13th. The software maker reported $0.32 EPS for the quarter, topping analysts’ consensus estimates of $0.28 by $0.04. The company had revenue of $62.22 million during the quarter, compared to the consensus estimate of $61.95 million. Agilysys had a net margin of 36.30% and a return on equity of 15.52%. Agilysys’s revenue for the quarter was up 17.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.26 earnings per share. On average, sell-side analysts expect that Agilysys will post 0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on AGYS. Oppenheimer boosted their price target on Agilysys from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Tuesday, May 14th. Needham & Company LLC boosted their price target on Agilysys from $100.00 to $125.00 and gave the company a “buy” rating in a report on Thursday, May 23rd. William Blair began coverage on Agilysys in a report on Monday, June 24th. They issued an “outperform” rating for the company. Finally, StockNews.com lowered Agilysys from a “buy” rating to a “hold” rating in a report on Tuesday, June 25th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $103.33.

About Agilysys

Agilysys, Inc, together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, activity scheduling, reservations management, and related solutions to enhance guest experience.