Hsbc Holdings PLC Sells 1,463 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Hsbc Holdings PLC cut its holdings in Agilysys, Inc. (NASDAQ:AGYS) by 20.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,802 shares of the software maker’s stock after selling 1,463 shares during the quarter. Hsbc Holdings PLC’s holdings in Agilysys were worth $600,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Wasatch Advisors LP lifted its stake in Agilysys by 439.5% during the 1st quarter. Wasatch Advisors LP now owns 1,007,626 shares of the software maker’s stock valued at $84,903,000 after acquiring an additional 820,840 shares during the period. Vanguard Group Inc. boosted its holdings in Agilysys by 12.3% in the first quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock worth $166,530,000 after purchasing an additional 217,008 shares during the last quarter. American Century Companies Inc. raised its stake in Agilysys by 1,861.4% during the 2nd quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock valued at $23,026,000 after buying an additional 209,836 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Agilysys during the 2nd quarter valued at $21,039,000. Finally, Conestoga Capital Advisors LLC bought a new stake in shares of Agilysys in the second quarter worth $16,546,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on AGYS. Needham & Company LLC reissued a “buy” rating and issued a $125.00 target price on shares of Agilysys in a report on Monday, September 16th. Craig Hallum boosted their target price on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. William Blair started coverage on shares of Agilysys in a report on Monday, June 24th. They set an “outperform” rating for the company. 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. Finally, Oppenheimer raised their target price on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. Seven investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $124.00.

Insider Transactions at Agilysys

In related news, Director John Mutch sold 1,000 shares of the company’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction 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 through this hyperlink. In related news, Director John Mutch sold 1,000 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the transaction, the director now directly owns 36,326 shares of the company’s stock, valued at $4,129,902.94. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Chris J. Robertson sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $108.83, for a total transaction of $435,320.00. Following the completion of the sale, the insider now owns 22,888 shares in the company, valued at approximately $2,490,901.04. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,000 shares of company stock valued at $3,734,810. 23.60% of the stock is currently owned by corporate insiders.

Agilysys Stock Performance

Shares of AGYS stock opened at $108.97 on Tuesday. The stock has a fifty day simple moving average of $107.42 and a two-hundred day simple moving average of $96.91. The firm has a market capitalization of $2.99 billion, a PE ratio of 34.48 and a beta of 0.83. Agilysys, Inc. has a 52-week low of $63.78 and a 52-week high of $114.70.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share (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 company had revenue of $63.50 million for the quarter, compared to the consensus estimate of $64.52 million. During the same quarter last year, the company earned $0.18 EPS. The firm’s quarterly revenue was up 13.2% on a year-over-year basis. On average, sell-side analysts forecast that Agilysys, Inc. will post 0.62 EPS for the current fiscal 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.