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

Agilysys, Inc. (NASDAQ:AGYS) was the target of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 709,800 shares, a growth of 13.0% from the October 15th total of 628,100 shares. Based on an average daily volume of 202,500 shares, the days-to-cover ratio is presently 3.5 days.

Insider Activity at Agilysys

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the transaction, the chief executive officer now owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 1.27 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Chris J. Robertson sold 4,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total transaction of $435,320.00. Following the sale, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. The trade was a 14.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 42,023 shares of company stock worth $4,548,979. 19.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Agilysys

Institutional investors and hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings 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 during the period. CWM LLC lifted its position 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 last quarter. Larson Financial Group LLC bought a new stake in shares of Agilysys during the second quarter worth approximately $32,000. Advisors Asset Management Inc. grew its position in shares of Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, NBC Securities Inc. bought a new position in shares of Agilysys during the third quarter worth approximately $46,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Trading Up 0.3 %

Agilysys stock opened at $121.19 on Monday. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. The stock has a 50-day simple moving average of $110.04 and a 200 day simple moving average of $104.34. The stock has a market capitalization of $3.39 billion, a P/E ratio of 34.53 and a beta of 0.85. Agilysys has a 52 week low of $73.52 and a 52 week high of $128.61.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, topping the consensus estimate of $0.30 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The company had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. During the same period in the previous year, the company posted $0.25 EPS. The firm’s revenue for the quarter was up 16.6% compared to the same quarter last year. Analysts expect that Agilysys will post 0.81 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on AGYS. Craig Hallum boosted their price objective on shares of Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Northland Securities restated an “outperform” rating and issued a $145.00 price objective (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. Needham & Company LLC upped their target price on Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Friday. Oppenheimer raised their price target on Agilysys from $120.00 to $135.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Finally, StockNews.com cut Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $134.80.

Agilysys Company Profile

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.