Agilysys, Inc. (NASDAQ:AGYS) Position Lessened by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 4.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 145,802 shares of the software maker's stock after selling 6,540 shares during the period. Bank of New York Mellon Corp owned 0.52% of Agilysys worth $19,204,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in AGYS. US Bancorp DE raised its holdings in shares of Agilysys by 11.2% in the third quarter. US Bancorp DE now owns 1,216 shares of the software maker's stock worth $133,000 after acquiring an additional 122 shares during the last quarter. Amalgamated Bank increased its stake in Agilysys by 5.3% in the third quarter. Amalgamated Bank now owns 6,496 shares of the software maker's stock valued at $708,000 after purchasing an additional 325 shares during the last quarter. Principal Financial Group Inc. increased its stake in Agilysys by 2.6% in the third quarter. Principal Financial Group Inc. now owns 115,901 shares of the software maker's stock valued at $12,630,000 after purchasing an additional 2,949 shares during the last quarter. Lisanti Capital Growth LLC acquired a new position in Agilysys in the third quarter valued at $1,785,000. Finally, Geneva Capital Management LLC increased its stake in Agilysys by 0.4% in the third quarter. Geneva Capital Management LLC now owns 675,386 shares of the software maker's stock valued at $73,597,000 after purchasing an additional 2,687 shares during the last quarter. Institutional investors and hedge funds own 88.00% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Craig Hallum dropped their target price on Agilysys from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Northland Securities upped their price target on Agilysys from $145.00 to $186.00 and gave the stock an "outperform" rating in a research note on Tuesday, January 7th. Needham & Company LLC dropped their price target on Agilysys from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, March 5th. Oppenheimer dropped their price target on Agilysys from $150.00 to $135.00 and set an "outperform" rating for the company in a research note on Wednesday, January 22nd. Finally, UBS Group set a $100.00 price target on Agilysys in a research note on Wednesday, March 5th. One research 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, Agilysys presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.50.

Agilysys Stock Up 4.1 %

Shares of NASDAQ AGYS traded up $2.90 on Friday, hitting $74.35. The company had a trading volume of 208,125 shares, compared to its average volume of 403,119. Agilysys, Inc. has a 12-month low of $71.37 and a 12-month high of $142.64. The business has a 50 day moving average of $95.89 and a two-hundred day moving average of $110.64. The company has a quick ratio of 1.09, a current ratio of 1.14 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $2.08 billion, a P/E ratio of 92.94 and a beta of 0.98.

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

Insider Activity at Agilysys

In other Agilysys news, Director John Mutch sold 2,000 shares of the stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $77.87, for a total transaction of $155,740.00. Following the transaction, the director now owns 32,654 shares of the company's stock, valued at $2,542,766.98. This trade represents a 5.77 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of Agilysys stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $130.55, for a total value of $979,125.00. Following the completion of the transaction, the director now owns 330,576 shares of the company's stock, valued at approximately $43,156,696.80. The trade was a 2.22 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,500 shares of company stock valued at $8,651,740. 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.