Prudential Financial Inc. Lowers Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Prudential Financial Inc. reduced its stake in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 24.2% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 23,411 shares of the software maker's stock after selling 7,490 shares during the period. Prudential Financial Inc. owned approximately 0.08% of Agilysys worth $2,844,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harbor Investment Advisory LLC lifted its stake in Agilysys by 109.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker's stock worth $49,000 after purchasing an additional 193 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Agilysys by 381.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker's stock valued at $57,000 after buying an additional 336 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in Agilysys in the 4th quarter worth approximately $61,000. Assetmark Inc. purchased a new stake in Agilysys in the fourth quarter worth approximately $115,000. Finally, KBC Group NV grew its position in Agilysys by 71.3% during the fourth quarter. KBC Group NV now owns 1,127 shares of the software maker's stock valued at $148,000 after acquiring an additional 469 shares during the last quarter. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Trading Down 3.1 %

NASDAQ:AGYS traded down $2.16 during mid-day trading on Monday, reaching $67.19. 393,288 shares of the company's stock traded hands, compared to its average volume of 254,490. Agilysys, Inc. has a 12-month low of $66.29 and a 12-month high of $142.64. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09. The company has a 50 day moving average price of $79.81 and a 200-day moving average price of $106.88. The firm has a market capitalization of $1.88 billion, a price-to-earnings ratio of 83.99 and a beta of 0.64.

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Craig Hallum cut their price objective on shares of Agilysys from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Needham & Company LLC reduced their price objective on Agilysys from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Northland Securities boosted their target price on Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. UBS Group set a $100.00 target price on Agilysys in a report on Wednesday, March 5th. Finally, Oppenheimer decreased their price target on Agilysys from $150.00 to $135.00 and set an "outperform" rating on the stock in a research note on Wednesday, January 22nd. One investment analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Agilysys presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.50.

Insider Transactions at Agilysys

In related news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $132.04, for a total value of $990,300.00. Following the sale, the director now directly owns 300,576 shares of the company's stock, valued at $39,688,055.04. This represents a 2.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John Mutch sold 750 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $75.33, for a total value of $56,497.50. Following the transaction, the director now directly owns 31,904 shares of the company's stock, valued at $2,403,328.32. This represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 55,250 shares of company stock valued at $6,751,563. Company 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.