Agilysys, Inc. (NASDAQ:AGYS) Short Interest Update

Agilysys, Inc. (NASDAQ:AGYS) saw a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 484,500 shares, a decline of 5.0% from the August 31st total of 510,100 shares. Based on an average trading volume of 223,000 shares, the short-interest ratio is presently 2.2 days.

Analyst Ratings Changes

A number of brokerages have weighed in on AGYS. Northland Securities boosted their price target on Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Oppenheimer increased their price objective on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Craig Hallum upped their price target on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. William Blair started coverage on shares of Agilysys in a research report on Monday, June 24th. They set an “outperform” rating for the company. Finally, StockNews.com raised Agilysys from a “hold” rating to a “buy” rating in a research report on Friday. Seven research analysts have rated the stock with a buy rating, According to MarketBeat, Agilysys presently has an average rating of “Buy” and a consensus price target of $124.00.

Agilysys Stock Down 1.7 %

AGYS opened at $107.97 on Monday. Agilysys has a twelve month low of $63.78 and a twelve month high of $114.70. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 34.17 and a beta of 0.83. The company has a 50-day simple moving average of $107.42 and a 200 day simple moving average of $96.76.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The business had revenue of $63.50 million for the quarter, compared to analysts’ expectations of $64.52 million. During the same period last year, the firm posted $0.18 earnings per share. The firm’s quarterly revenue was up 13.2% compared to the same quarter last year. Sell-side analysts anticipate that Agilysys will post 0.62 EPS for the current fiscal year.

Insider Activity

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $102.03, for a total value of $1,020,300.00. Following the completion of the sale, the chief executive officer now owns 738,367 shares in the company, valued at $75,335,585.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the sale, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Chris J. Robertson sold 4,000 shares of Agilysys stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $108.83, for a total value of $435,320.00. Following the completion of the sale, the insider now directly owns 22,888 shares in the company, valued at approximately $2,490,901.04. The disclosure for this sale can be found here. Insiders have sold a total of 35,000 shares of company stock valued at $3,734,810 in the last 90 days. 23.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On Agilysys

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Truist Financial Corp increased its position in Agilysys by 43.6% during the 2nd quarter. Truist Financial Corp now owns 15,651 shares of the software maker’s stock valued at $1,630,000 after purchasing an additional 4,752 shares during the period. Driehaus Capital Management LLC boosted its position in Agilysys by 49.0% during the second quarter. Driehaus Capital Management LLC now owns 218,292 shares of the software maker’s stock valued at $22,733,000 after acquiring an additional 71,809 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new stake in Agilysys during the 2nd quarter worth about $1,497,000. The Manufacturers Life Insurance Company raised its position in shares of Agilysys by 9.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 13,505 shares of the software maker’s stock worth $1,406,000 after acquiring an additional 1,174 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its holdings in Agilysys by 9.4% in the second quarter. Deerfield Management Company L.P. Series C now owns 8,752 shares of the software maker’s stock worth $911,000 after purchasing an additional 753 shares in the last quarter. Institutional investors own 88.00% of the company’s stock.

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.