Handelsbanken Fonder AB Increases Stock Position in Agilysys, Inc. (NASDAQ:AGYS)

Handelsbanken Fonder AB increased its position in shares of Agilysys, Inc. (NASDAQ:AGYS) by 20.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 5,259 shares of the software maker’s stock after purchasing an additional 900 shares during the quarter. Handelsbanken Fonder AB’s holdings in Agilysys were worth $573,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in shares of Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after buying an additional 154 shares in the last quarter. CWM LLC lifted its holdings in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after acquiring an additional 199 shares during the period. Larson Financial Group LLC purchased a new position in Agilysys in the second quarter worth $32,000. RiverPark Advisors LLC grew its stake in Agilysys by 361.1% in the 1st quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock valued at $149,000 after purchasing an additional 1,383 shares during the period. Finally, Covestor Ltd increased its position in shares of Agilysys by 99.9% during the 1st quarter. Covestor Ltd now owns 2,277 shares of the software maker’s stock valued at $192,000 after purchasing an additional 1,138 shares during the last quarter. 88.00% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Agilysys news, Director John Mutch sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $113.69, for a total value of $113,690.00. Following the transaction, the director now directly owns 36,326 shares in the company, valued at $4,129,902.94. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, 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 value of $113,690.00. Following the transaction, the director now directly owns 36,326 shares in the company, valued at approximately $4,129,902.94. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,000 shares of company stock worth $3,734,810. Corporate insiders own 23.60% of the company’s stock.

Agilysys Trading Up 2.1 %

Shares of AGYS stock opened at $114.90 on Monday. The firm’s 50 day moving average is $107.33 and its 200 day moving average is $98.90. Agilysys, Inc. has a 12 month low of $63.78 and a 12 month high of $115.52. The stock has a market capitalization of $3.15 billion, a P/E ratio of 36.36 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The firm had revenue of $63.50 million for the quarter, compared to the consensus estimate of $64.52 million. During the same period in the prior year, the firm posted $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 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on AGYS. Oppenheimer boosted their price target on shares of Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. BTIG Research increased their target price on shares of Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price target on shares of Agilysys in a report on Monday, September 16th. Northland Securities increased their price objective on Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Finally, StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a research report on Wednesday, October 9th. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, Agilysys presently has a consensus rating of “Moderate Buy” and an average price target of $124.00.

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.