Principal Financial Group Inc. Raises Stake in Agilysys, Inc. (NASDAQ:AGYS)

Principal Financial Group Inc. increased its stake in Agilysys, Inc. (NASDAQ:AGYS) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 115,901 shares of the software maker’s stock after buying an additional 2,949 shares during the period. Principal Financial Group Inc.’s holdings in Agilysys were worth $12,630,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC purchased a new position in shares of Agilysys during the second quarter worth approximately $32,000. Advisors Asset Management Inc. grew its stake in Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after purchasing an additional 182 shares in the last quarter. GAMMA Investing LLC increased its holdings in Agilysys by 66.7% during the 3rd quarter. GAMMA Investing LLC now owns 415 shares of the software maker’s stock worth $45,000 after purchasing an additional 166 shares during the period. NBC Securities Inc. bought a new stake in Agilysys during the 3rd quarter valued at $46,000. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Agilysys by 76.2% in the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker’s stock worth $52,000 after buying an additional 205 shares during the period. Institutional investors own 88.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on AGYS shares. Oppenheimer lifted their price objective on Agilysys from $135.00 to $150.00 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. BTIG Research upped their price target on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Northland Securities restated an “outperform” rating and set a $145.00 target price (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. Finally, Needham & Company LLC lifted their price target on Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a report on Friday, November 15th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Agilysys currently has a consensus rating of “Moderate Buy” and a consensus price target of $137.80.

Insider Buying and Selling

In related news, Director John Mutch sold 500 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $137.86, for a total value of $68,930.00. Following the sale, the director now owns 34,654 shares in the company, valued at $4,777,400.44. This represents a 1.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO William David Wood III sold 1,870 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $134.01, for a total transaction of $250,598.70. Following the transaction, the chief financial officer now directly owns 47,609 shares of the company’s stock, valued at $6,380,082.09. This represents a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,122 shares of company stock worth $1,231,391 in the last three months. Corporate insiders own 19.30% of the company’s stock.

Agilysys Stock Performance

Shares of AGYS stock opened at $135.58 on Friday. Agilysys, Inc. has a 12-month low of $73.52 and a 12-month high of $142.64. The business’s fifty day simple moving average is $125.16 and its 200-day simple moving average is $113.01. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The company has a market cap of $3.79 billion, a PE ratio of 38.63 and a beta of 0.93.

Agilysys (NASDAQ:AGYS) last released its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $67.54 million. During the same period last year, the business posted $0.25 earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. Analysts expect that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

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.