Argent Trust Co Makes New $222,000 Investment in Agilysys, Inc. (NASDAQ:AGYS)

Argent Trust Co bought a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS) during the second quarter, Holdings Channel.com reports. The fund bought 2,127 shares of the software maker’s stock, valued at approximately $222,000.

Other large investors also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Agilysys by 2.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 168,864 shares of the software maker’s stock valued at $14,323,000 after purchasing an additional 3,997 shares during the period. Dynamic Technology Lab Private Ltd acquired a new position in Agilysys during the fourth quarter worth $589,000. Trexquant Investment LP lifted its holdings in Agilysys by 181.3% during the fourth quarter. Trexquant Investment LP now owns 19,080 shares of the software maker’s stock valued at $1,618,000 after purchasing an additional 12,297 shares in the last quarter. Evoke Wealth LLC acquired a new stake in shares of Agilysys in the fourth quarter valued at about $448,000. Finally, Axiom Investors LLC DE increased its stake in shares of Agilysys by 421.7% during the fourth quarter. Axiom Investors LLC DE now owns 58,040 shares of the software maker’s stock worth $4,923,000 after purchasing an additional 46,915 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Stock Performance

Shares of Agilysys stock opened at $104.79 on Friday. The business’s 50 day moving average price is $107.44 and its 200 day moving average price is $95.52. The company has a market cap of $2.88 billion, a price-to-earnings ratio of 33.16 and a beta of 0.83. Agilysys, Inc. has a one year low of $63.78 and a one year high of $114.70.

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

Insider Buying and Selling at Agilysys

In other news, Director John Mutch sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were 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 owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at approximately $85,441,345.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 transaction of $113,690.00. Following the transaction, the director now directly owns 36,326 shares of the company’s stock, valued at approximately $4,129,902.94. The disclosure for this sale can be found here. Insiders have sold 80,543 shares of company stock worth $8,221,812 in the last ninety days. 23.60% of the stock is owned by insiders.

Wall Street Analyst Weigh In

AGYS has been the topic of several research analyst reports. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price objective on shares of Agilysys in a report on Monday, September 16th. StockNews.com raised Agilysys from a “hold” rating to a “buy” rating in a research note on Tuesday. Oppenheimer increased their price objective on Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, July 19th. Northland Securities raised their price objective on Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Finally, BTIG Research upped their target price on shares of Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, July 19th. Seven equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $124.00.

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.