Arizona State Retirement System Increases Stake in Agilysys, Inc. (NASDAQ:AGYS)

Arizona State Retirement System raised its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,676 shares of the software maker’s stock after buying an additional 561 shares during the period. Arizona State Retirement System’s holdings in Agilysys were worth $1,011,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in AGYS. Advisors Asset Management Inc. increased its holdings in Agilysys by 117.4% during the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock valued at $37,000 after buying an additional 182 shares during the last quarter. Harbor Investment Advisory LLC increased its holdings in Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock valued at $49,000 after buying an additional 193 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Agilysys by 381.8% during the fourth quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after buying an additional 336 shares during the last quarter. Arcadia Investment Management Corp MI purchased a new stake in Agilysys during the fourth quarter valued at approximately $61,000. Finally, Assetmark Inc. purchased a new stake in Agilysys during the fourth quarter valued at approximately $115,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Agilysys

In other Agilysys news, Director John Mutch sold 2,000 shares of the stock in a transaction on Friday, March 7th. The shares were sold at an average price of $77.87, for a total transaction of $155,740.00. Following the completion of the transaction, the director now owns 32,654 shares in the company, valued at $2,542,766.98. This trade represents a 5.77 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $130.34, for a total transaction of $977,550.00. Following the completion of the sale, the director now directly owns 315,576 shares in the company, valued at approximately $41,132,175.84. This represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,500 shares of company stock worth $8,651,740 over the last 90 days. 19.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AGYS. UBS Group set a $100.00 price target on shares of Agilysys in a research report on Wednesday, March 5th. Northland Securities upped their price target on shares of Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 7th. Needham & Company LLC dropped their price target on shares of Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Craig Hallum dropped their price target on shares of Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a research report on Wednesday, January 22nd. Finally, Oppenheimer dropped their price target on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a research report on Wednesday, January 22nd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $127.50.

Agilysys Price Performance

Shares of NASDAQ:AGYS opened at $71.45 on Friday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 1.14. The firm has a fifty day moving average price of $95.89 and a 200 day moving average price of $110.64. Agilysys, Inc. has a fifty-two week low of $71.37 and a fifty-two week high of $142.64. The firm has a market cap of $2.00 billion, a price-to-earnings ratio of 89.31 and a beta of 0.98.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.04. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The firm had revenue of $69.60 million during the quarter, compared to analyst estimates of $73.15 million. During the same quarter in the prior year, the business earned $0.35 earnings per share. Agilysys’s revenue for the quarter was up 14.9% on a year-over-year basis. As a group, sell-side analysts expect that Agilysys, Inc. will post 0.8 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.