Victory Capital Management Inc. Grows Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Victory Capital Management Inc. increased its position in Agilysys, Inc. (NASDAQ:AGYS) by 24.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,180 shares of the software maker’s stock after acquiring an additional 3,777 shares during the period. Victory Capital Management Inc.’s holdings in Agilysys were worth $1,997,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Wasatch Advisors LP boosted its stake in shares of Agilysys by 439.5% in the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock worth $84,903,000 after buying an additional 820,840 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Agilysys by 12.3% during the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after acquiring an additional 217,008 shares during the last quarter. Conestoga Capital Advisors LLC bought a new stake in Agilysys in the 2nd quarter valued at $16,546,000. Lord Abbett & CO. LLC increased its holdings in Agilysys by 13.8% in the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock valued at $60,920,000 after acquiring an additional 87,549 shares during the last quarter. Finally, Brown Capital Management LLC purchased a new position in shares of Agilysys in the 1st quarter worth $6,054,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Agilysys news, SVP Kyle C. Badger sold 249 shares of the company’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $102.03, for a total transaction of $25,405.47. Following the transaction, the senior vice president now owns 115,834 shares in the company, valued at approximately $11,818,543.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Kyle C. Badger sold 249 shares of the company’s stock in a transaction on Monday, July 1st. The shares were sold at an average price of $102.03, for a total value of $25,405.47. Following the sale, the senior vice president now directly owns 115,834 shares of the company’s stock, valued at approximately $11,818,543.02. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mak Capital One Llc sold 61,035 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $96.43, for a total transaction of $5,885,605.05. Following the completion of the sale, the director now directly owns 1,298,407 shares in the company, valued at $125,205,387.01. The disclosure for this sale can be found here. Insiders sold a total of 141,578 shares of company stock worth $14,107,417 in the last 90 days. 23.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on AGYS shares. Needham & Company LLC reissued a “buy” rating and issued a $125.00 price objective on shares of Agilysys in a research note on Monday. Northland Securities lifted their price objective on shares of Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a research note on Monday. Oppenheimer lifted their price target on shares of Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. BTIG Research lifted their price target on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, StockNews.com raised shares of Agilysys from a “hold” rating to a “buy” rating in a research note on Tuesday. Seven research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $124.00.

Agilysys Price Performance

Agilysys stock opened at $101.31 on Thursday. Agilysys, Inc. has a 1 year low of $63.78 and a 1 year high of $114.70. The stock has a market cap of $2.82 billion, a price-to-earnings ratio of 32.06 and a beta of 0.83. The firm has a 50-day moving average of $107.48 and a two-hundred day moving average of $95.27.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $63.50 million during the quarter, compared to analyst estimates of $64.52 million. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. Agilysys’s revenue was up 13.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.18 EPS. Research analysts expect that Agilysys, Inc. will post 0.62 earnings per share for the current 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.