Nisa Investment Advisors LLC Trims Stock Position in Agilysys, Inc. (NASDAQ:AGYS)

Nisa Investment Advisors LLC lessened its stake in shares of Agilysys, Inc. (NASDAQ:AGYS) by 8.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,414 shares of the software maker’s stock after selling 486 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Agilysys were worth $590,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. raised its position in Agilysys by 12.3% in the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares during the last quarter. Fred Alger Management LLC raised its position in Agilysys by 1.9% during the 2nd quarter. Fred Alger Management LLC now owns 938,058 shares of the software maker’s stock worth $97,689,000 after buying an additional 17,898 shares during the last quarter. Lord Abbett & CO. LLC raised its position in Agilysys by 13.8% during the 1st quarter. Lord Abbett & CO. LLC now owns 722,995 shares of the software maker’s stock worth $60,920,000 after buying an additional 87,549 shares during the last quarter. Geneva Capital Management LLC raised its position in Agilysys by 10.6% during the 1st quarter. Geneva Capital Management LLC now owns 686,033 shares of the software maker’s stock worth $57,805,000 after buying an additional 65,672 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in Agilysys by 5.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 403,153 shares of the software maker’s stock worth $33,970,000 after buying an additional 20,703 shares during the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Insider Transactions at Agilysys

In other news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Chris J. Robertson sold 264 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total value of $26,627.04. Following the transaction, the insider now owns 22,624 shares in the company, valued at approximately $2,281,856.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’s 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 transaction, the chief executive officer now owns 778,367 shares in the company, valued at $85,441,345.59. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 36,323 shares of company stock worth $3,868,248 in the last three months. Company insiders own 19.30% of the company’s stock.

Agilysys Price Performance

Agilysys stock opened at $102.95 on Tuesday. Agilysys, Inc. has a 12-month low of $73.52 and a 12-month high of $125.73. The stock has a market capitalization of $2.88 billion, a P/E ratio of 29.33 and a beta of 0.85. The firm’s 50-day moving average is $108.30 and its two-hundred day moving average is $102.23. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 2.34.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping the consensus estimate of $0.30 by $0.04. The business had revenue of $68.30 million for the quarter, compared to analyst estimates of $67.54 million. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company’s revenue was up 16.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.25 EPS. Equities analysts predict that Agilysys, Inc. will post 0.81 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have commented on AGYS. Needham & Company LLC restated a “buy” rating and set a $125.00 price objective on shares of Agilysys in a research report on Tuesday, October 29th. BTIG Research upped their price objective on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a research report on Tuesday, October 29th. Craig Hallum increased their price target on shares of Agilysys from $105.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Northland Securities reiterated an “outperform” rating and issued a $145.00 price target (up previously from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. Finally, Oppenheimer increased their price target on shares of Agilysys from $100.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Agilysys currently has a consensus rating of “Moderate Buy” and an average price target of $127.80.

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.