Jennison Associates LLC Buys Shares of 6,326 Agilysys, Inc. (NASDAQ:AGYS)

Jennison Associates LLC purchased a new stake in Agilysys, Inc. (NASDAQ:AGYS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 6,326 shares of the software maker’s stock, valued at approximately $689,000.

A number of other hedge funds also recently made changes to their positions in AGYS. CWM LLC increased its position in Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock valued at $26,000 after acquiring an additional 199 shares during the period. GAMMA Investing LLC increased its holdings in shares of Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after purchasing an additional 154 shares during the period. Larson Financial Group LLC bought a new stake in shares of Agilysys during the second quarter valued at about $32,000. NBC Securities Inc. acquired a new stake in Agilysys in the third quarter worth about $46,000. Finally, Exchange Traded Concepts LLC lifted its holdings in Agilysys by 76.2% in the third quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock worth $52,000 after purchasing an additional 205 shares during the period. Institutional investors own 88.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on AGYS shares. Oppenheimer boosted their price target on shares of Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities restated an “outperform” rating and issued a $145.00 target price (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. BTIG Research increased their price target on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research note on Tuesday, October 29th. StockNews.com downgraded Agilysys from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC raised their target price on Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a research note on Friday, November 15th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Agilysys currently has a consensus rating of “Moderate Buy” and an average price target of $134.80.

Agilysys Price Performance

Shares of NASDAQ:AGYS opened at $137.48 on Friday. 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 company has a market capitalization of $3.84 billion, a PE ratio of 39.17 and a beta of 0.85. The stock has a fifty day moving average of $112.71 and a 200-day moving average of $105.81. Agilysys, Inc. has a one year low of $73.52 and a one year high of $138.19.

Agilysys (NASDAQ:AGYS) last announced its earnings results on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, beating the consensus estimate of $0.30 by $0.04. The business had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. Agilysys’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.25 earnings per share. As a group, equities analysts anticipate that Agilysys, Inc. will post 0.81 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director John Mutch sold 1,000 shares of the 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 completion of the sale, the director now directly owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. This represents a 2.68 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO William David Wood III sold 588 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $59,305.68. Following the completion of the transaction, the chief financial officer now owns 49,479 shares in the company, valued at $4,990,451.94. This represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,023 shares of company stock worth $4,548,979 over the last ninety days. 19.30% of the stock is currently owned by company insiders.

Agilysys 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.