Cynosure Group LLC Takes Position in Agilysys, Inc. (NASDAQ:AGYS)

Cynosure Group LLC purchased a new position in Agilysys, Inc. (NASDAQ:AGYS) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,436 shares of the software maker’s stock, valued at approximately $374,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in AGYS. FMR LLC grew its stake in shares of Agilysys by 1,197.1% in the third quarter. FMR LLC now owns 505,690 shares of the software maker’s stock worth $55,105,000 after acquiring an additional 466,704 shares during the last quarter. Vanguard Group Inc. lifted its stake in Agilysys by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after acquiring an additional 217,008 shares during the period. American Century Companies Inc. increased its holdings in Agilysys by 1,861.4% during the second 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 Agilysys in the second quarter worth approximately $21,039,000. Finally, Conestoga Capital Advisors LLC purchased a new position in shares of Agilysys during the 2nd quarter worth $16,546,000. Institutional investors own 88.00% of the company’s stock.

Analyst Upgrades and Downgrades

AGYS has been the topic of a number of recent research reports. Needham & Company LLC raised their target price on Agilysys from $125.00 to $145.00 and gave the stock a “buy” rating in a report on Friday, November 15th. BTIG Research lifted their price objective on Agilysys from $118.00 to $124.00 and gave the company a “buy” rating in a research report on Tuesday, October 29th. StockNews.com lowered shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Northland Securities reiterated an “outperform” rating and issued a $145.00 price target (up from $132.00) on shares of Agilysys in a research report on Tuesday, October 29th. Finally, Oppenheimer raised their price objective on shares of Agilysys from $120.00 to $135.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $134.80.

Agilysys Trading Down 2.8 %

AGYS stock opened at $133.89 on Friday. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. Agilysys, Inc. has a 1-year low of $73.52 and a 1-year high of $139.99. The business has a 50 day simple moving average of $115.33 and a two-hundred day simple moving average of $107.33. The company has a market capitalization of $3.74 billion, a price-to-earnings ratio of 38.15 and a beta of 0.85.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $68.30 million during 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%. Agilysys’s revenue for the quarter was up 16.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.25 earnings per share. Research analysts anticipate that Agilysys, Inc. will post 0.81 EPS for the current fiscal year.

Insider Buying and Selling at Agilysys

In other news, SVP Kyle C. Badger sold 471 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $100.86, for a total transaction of $47,505.06. Following the completion of the transaction, the senior vice president now directly owns 115,117 shares in the company, valued at approximately $11,610,700.62. This represents a 0.41 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of the firm’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 completion of the transaction, the chief executive officer now directly owns 778,367 shares of the company’s stock, valued at approximately $85,441,345.59. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 37,523 shares of company stock valued at $4,068,899 in the last 90 days. Insiders own 19.30% 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.