Advisors Capital Management LLC Takes $794,000 Position in Agilysys, Inc. (NASDAQ:AGYS)

Advisors Capital Management LLC purchased a new stake in Agilysys, Inc. (NASDAQ:AGYS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 6,026 shares of the software maker's stock, valued at approximately $794,000.

A number of other hedge funds have also modified their holdings of the business. Next Century Growth Investors LLC boosted its position in shares of Agilysys by 0.3% during the 4th quarter. Next Century Growth Investors LLC now owns 146,445 shares of the software maker's stock worth $19,288,000 after acquiring an additional 437 shares in the last quarter. Rockefeller Capital Management L.P. lifted its position in Agilysys by 23.0% in the fourth quarter. Rockefeller Capital Management L.P. now owns 378,795 shares of the software maker's stock valued at $49,880,000 after purchasing an additional 70,916 shares during the period. Raymond James Financial Inc. acquired a new position in Agilysys during the fourth quarter worth $19,637,000. Legal & General Group Plc increased its holdings in shares of Agilysys by 1.5% in the 4th quarter. Legal & General Group Plc now owns 68,284 shares of the software maker's stock valued at $8,994,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Invesco Ltd. lifted its position in shares of Agilysys by 412.9% during the 4th quarter. Invesco Ltd. now owns 727,794 shares of the software maker's stock valued at $95,858,000 after acquiring an additional 585,886 shares during the period. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Needham & Company LLC cut their price objective on Agilysys from $125.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. UBS Group set a $100.00 price target on Agilysys in a research note on Wednesday, March 5th. Northland Securities upped their price target on shares of Agilysys from $145.00 to $186.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 7th. Craig Hallum dropped their price objective on shares of Agilysys from $125.00 to $120.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Finally, Oppenheimer dropped their price objective on Agilysys from $135.00 to $90.00 and set an "outperform" rating on the stock in a report on Wednesday, April 9th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $120.00.

Insiders Place Their Bets

In related news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $96.68, for a total value of $725,100.00. Following the completion of the transaction, the director now owns 233,076 shares of the company's stock, valued at $22,533,787.68. This represents a 3.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John Mutch sold 2,000 shares of the company's stock in a transaction that occurred on Friday, March 7th. The shares were sold at an average price of $77.87, for a total value of $155,740.00. Following the completion of the sale, the director now owns 32,654 shares in the company, valued at approximately $2,542,766.98. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,750 shares of company stock worth $1,878,513 in the last ninety days. Insiders own 19.30% of the company's stock.

Agilysys Stock Performance

Shares of NASDAQ:AGYS traded up $0.81 during trading on Friday, reaching $69.45. The stock had a trading volume of 139,188 shares, compared to its average volume of 259,316. The stock has a fifty day simple moving average of $75.93 and a two-hundred day simple moving average of $104.24. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. Agilysys, Inc. has a 52 week low of $63.71 and a 52 week high of $142.64. The firm has a market capitalization of $1.94 billion, a price-to-earnings ratio of 86.81 and a beta of 0.64.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.04. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The company had revenue of $69.60 million during the quarter, compared to analysts' expectations of $73.15 million. During the same period in the prior year, the company earned $0.35 earnings per share. The business's quarterly revenue was up 14.9% compared to the same quarter last year. As a group, analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

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.