Thrivent Financial for Lutherans Trims Stock Position in Agilysys, Inc. (NASDAQ:AGYS)

Thrivent Financial for Lutherans trimmed its stake in Agilysys, Inc. (NASDAQ:AGYS) by 3.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 185,388 shares of the software maker’s stock after selling 6,112 shares during the period. Thrivent Financial for Lutherans owned approximately 0.66% of Agilysys worth $19,306,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Sei Investments Co. increased its position in Agilysys by 32.8% during the second quarter. Sei Investments Co. now owns 55,032 shares of the software maker’s stock worth $5,731,000 after buying an additional 13,595 shares during the period. Public Employees Retirement Association of Colorado acquired a new position in shares of Agilysys in the 2nd quarter valued at $268,000. Intech Investment Management LLC acquired a new position in shares of Agilysys in the 2nd quarter valued at $681,000. XTX Topco Ltd raised its position in Agilysys by 20.1% in the 2nd quarter. XTX Topco Ltd now owns 3,401 shares of the software maker’s stock valued at $354,000 after purchasing an additional 570 shares during the last quarter. Finally, Seven Eight Capital LP acquired a new stake in Agilysys during the 2nd quarter worth $580,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Agilysys Price Performance

AGYS opened at $107.91 on Wednesday. Agilysys, Inc. has a 12 month low of $63.78 and a 12 month high of $114.70. The stock has a market capitalization of $2.96 billion, a P/E ratio of 34.15 and a beta of 0.83. The business has a 50 day simple moving average of $107.42 and a 200-day simple moving average of $96.21.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The company had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. During the same quarter last year, the company earned $0.18 earnings per share. Agilysys’s quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts anticipate that Agilysys, Inc. will post 0.62 EPS for the current year.

Insider Buying and Selling

In other news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the sale, the chief executive officer now directly owns 778,367 shares in the company, valued at approximately $85,441,345.59. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $113.69, for a total value of $113,690.00. Following the completion of the transaction, the director now owns 36,326 shares in the company, valued at $4,129,902.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total value of $1,097,700.00. Following the transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 35,543 shares of company stock valued at $3,790,212. Corporate insiders own 23.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have commented on AGYS. William Blair started coverage on shares of Agilysys in a research note on Monday, June 24th. They issued an “outperform” rating on the stock. StockNews.com raised Agilysys from a “hold” rating to a “buy” rating in a research note on Tuesday, September 17th. Craig Hallum increased their price objective on Agilysys from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. BTIG Research boosted their target price on Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a report on Friday, July 19th. Finally, Northland Securities increased their price target on Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday, September 16th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company 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.