Agilysys, Inc. (NASDAQ:AGYS) Shares Bought by Arizona State Retirement System

Arizona State Retirement System lifted its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 8.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,894 shares of the software maker’s stock after acquiring an additional 561 shares during the quarter. Arizona State Retirement System’s holdings in Agilysys were worth $718,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. GAMMA Investing LLC boosted its stake in Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. CWM LLC boosted its stake in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after buying an additional 199 shares in the last quarter. Larson Financial Group LLC bought a new position in Agilysys during the second quarter valued at about $32,000. YHB Investment Advisors Inc. acquired a new position in Agilysys during the first quarter worth about $35,000. Finally, RiverPark Advisors LLC raised its position in Agilysys by 361.1% in the first quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after acquiring an additional 1,383 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Stock Performance

Shares of NASDAQ:AGYS opened at $102.17 on Monday. The firm has a 50 day simple moving average of $107.58 and a 200 day simple moving average of $94.87. Agilysys, Inc. has a 52 week low of $63.78 and a 52 week high of $114.70. The company has a market cap of $2.85 billion, a PE ratio of 32.33 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The company had revenue of $63.50 million during the quarter, compared to analyst estimates of $64.52 million. During the same quarter in the prior year, the company earned $0.18 earnings per share. The company’s revenue for the quarter was up 13.2% on a year-over-year basis. On average, equities analysts predict that Agilysys, Inc. will post 0.62 earnings per share for the current year.

Insiders Place Their Bets

In other news, SVP Kyle C. Badger sold 249 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $102.03, for a total value of $25,405.47. Following the transaction, the senior vice president now owns 115,834 shares in the company, valued at approximately $11,818,543.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Kyle C. Badger sold 249 shares of the business’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $102.03, for a total transaction of $25,405.47. Following the transaction, the senior vice president now directly owns 115,834 shares of the company’s stock, valued at $11,818,543.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John Mutch sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the transaction, the director now owns 36,326 shares in the company, valued at approximately $4,129,902.94. The disclosure for this sale can be found here. In the last ninety days, insiders sold 141,578 shares of company stock worth $14,107,417. 23.60% of the stock is currently owned by company insiders.

Analyst Ratings Changes

AGYS has been the subject of several research reports. William Blair initiated coverage on shares of Agilysys in a research report on Monday, June 24th. They set an “outperform” rating for the company. StockNews.com cut shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, July 4th. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Agilysys in a report on Tuesday, July 23rd. BTIG Research increased their price objective on Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Finally, Oppenheimer lifted their target price on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $122.00.

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.