Envestnet Asset Management Inc. Increases Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Envestnet Asset Management Inc. boosted its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 19.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 93,024 shares of the software maker’s stock after acquiring an additional 15,164 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Agilysys were worth $9,688,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock valued at $26,000 after buying an additional 154 shares during the period. CWM LLC lifted its holdings in shares of Agilysys by 390.2% in the 2nd quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after acquiring an additional 199 shares during the last quarter. Larson Financial Group LLC purchased a new position in shares of Agilysys during the 2nd quarter worth about $32,000. YHB Investment Advisors Inc. bought a new position in Agilysys during the 1st quarter valued at about $35,000. Finally, RiverPark Advisors LLC lifted its stake in Agilysys by 361.1% in the first quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after purchasing an additional 1,383 shares during the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Agilysys

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at $85,441,345.59. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the sale, the chief executive officer now owns 778,367 shares in the company, valued at approximately $85,441,345.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Kyle C. Badger sold 249 shares of the firm’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $102.03, for a total value of $25,405.47. Following the completion of the transaction, the senior vice president now owns 115,834 shares of the company’s stock, valued at $11,818,543.02. The disclosure for this sale can be found here. Insiders sold 35,543 shares of company stock valued at $3,790,212 in the last three months. 23.60% of the stock is owned by insiders.

Agilysys Stock Down 1.7 %

Shares of Agilysys stock opened at $107.97 on Friday. Agilysys, Inc. has a 52-week low of $63.78 and a 52-week high of $114.70. The firm’s 50 day moving average price is $107.42 and its 200-day moving average price is $96.38. The company has a market cap of $2.96 billion, a P/E ratio of 34.17 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating 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 firm had revenue of $63.50 million during the quarter, compared to analyst estimates of $64.52 million. During the same quarter in the prior year, the business posted $0.18 EPS. The business’s revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, equities research analysts forecast that Agilysys, Inc. will post 0.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $125.00 target price on shares of Agilysys in a research note on Monday, September 16th. Northland Securities boosted their price objective on shares of Agilysys from $118.00 to $132.00 and gave the company an “outperform” rating in a research report on Monday, September 16th. BTIG Research raised their price objective on Agilysys from $95.00 to $118.00 and gave the stock a “buy” rating in a report on Friday, July 19th. StockNews.com raised Agilysys from a “hold” rating to a “buy” rating in a research report on Friday. Finally, William Blair assumed coverage on shares of Agilysys in a research note on Monday, June 24th. They issued an “outperform” rating for the company. Seven research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Agilysys has a consensus rating of “Buy” and a consensus target price of $124.00.

About Agilysys

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.