Raymond James Financial Inc. Acquires New Stake in Agilysys, Inc. (NASDAQ:AGYS)

Raymond James Financial Inc. acquired a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 149,093 shares of the software maker’s stock, valued at approximately $19,637,000.

A number of other hedge funds also recently bought and sold shares of AGYS. Blue Trust Inc. grew its position in shares of Agilysys by 18.9% during the fourth quarter. Blue Trust Inc. now owns 1,130 shares of the software maker’s stock worth $149,000 after purchasing an additional 180 shares in the last quarter. Advisors Asset Management Inc. grew its position in shares of Agilysys by 117.4% during 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. Harbor Investment Advisory LLC grew its position in shares of Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker’s stock worth $49,000 after purchasing an additional 193 shares in the last quarter. Albert D Mason Inc. grew its position in shares of Agilysys by 2.3% during the fourth quarter. Albert D Mason Inc. now owns 11,798 shares of the software maker’s stock worth $1,554,000 after purchasing an additional 267 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Agilysys by 4.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,589 shares of the software maker’s stock worth $827,000 after purchasing an additional 312 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Insider Activity

In related news, Director John Mutch sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $77.87, for a total transaction of $155,740.00. Following the completion of the sale, the director now directly owns 32,654 shares of the company’s stock, valued at approximately $2,542,766.98. This trade represents a 5.77 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $130.34, for a total value of $977,550.00. Following the sale, the director now directly owns 315,576 shares of the company’s stock, valued at $41,132,175.84. This represents a 2.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,500 shares of company stock valued at $8,651,740 in the last ninety days. Insiders own 19.30% of the company’s stock.

Agilysys Price Performance

NASDAQ:AGYS opened at $74.35 on Monday. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 92.94 and a beta of 0.98. Agilysys, Inc. has a 1 year low of $71.37 and a 1 year high of $142.64. The business has a 50 day simple moving average of $94.71 and a 200-day simple moving average of $110.38. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The business had revenue of $69.60 million during the quarter, compared to analyst estimates of $73.15 million. Agilysys had a return on equity of 9.38% and a net margin of 8.45%. The company’s revenue for the quarter was up 14.9% on a year-over-year basis. During the same period last year, the company earned $0.35 EPS. Equities analysts forecast that Agilysys, Inc. will post 0.8 EPS for the current year.

Analyst Upgrades and Downgrades

AGYS has been the subject of several research analyst reports. Northland Securities increased their target price on 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 Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Wednesday, March 5th. Oppenheimer dropped their price target on Agilysys from $150.00 to $135.00 and set an “outperform” rating for the company in a research note on Wednesday, January 22nd. UBS Group set a $100.00 price target on Agilysys in a research note on Wednesday, March 5th. Finally, Craig Hallum dropped their price target on Agilysys from $125.00 to $120.00 and set a “buy” rating for the company in a research note on Wednesday, January 22nd. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $127.50.

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.