Agilysys, Inc. (NASDAQ:AGYS) Stock Position Lowered by Brown Capital Management LLC

Brown Capital Management LLC reduced its holdings in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 9.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 683,661 shares of the software maker's stock after selling 69,148 shares during the quarter. Agilysys makes up 1.6% of Brown Capital Management LLC's portfolio, making the stock its 21st biggest holding. Brown Capital Management LLC owned approximately 2.45% of Agilysys worth $74,499,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its stake in shares of Agilysys by 129.3% during the 3rd quarter. Intech Investment Management LLC now owns 14,992 shares of the software maker's stock valued at $1,634,000 after acquiring an additional 8,453 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in Agilysys by 117.4% in the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker's stock valued at $37,000 after purchasing an additional 182 shares during the period. Jennison Associates LLC purchased a new stake in Agilysys in the third quarter valued at approximately $689,000. Thrivent Financial for Lutherans increased its position in Agilysys by 1.7% during the third quarter. Thrivent Financial for Lutherans now owns 188,536 shares of the software maker's stock worth $20,545,000 after purchasing an additional 3,148 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its stake in Agilysys by 4.3% during the third quarter. Oppenheimer Asset Management Inc. now owns 7,589 shares of the software maker's stock worth $827,000 after purchasing an additional 312 shares during the period. 88.00% of the stock is currently owned by hedge funds and other institutional investors.

Agilysys Stock Performance

AGYS traded up $5.47 on Thursday, hitting $131.25. 193,620 shares of the company's stock were exchanged, compared to its average volume of 216,508. The firm has a market cap of $3.67 billion, a PE ratio of 35.83 and a beta of 0.85. Agilysys, Inc. has a twelve month low of $73.52 and a twelve month high of $132.34. The company has a current ratio of 1.13, a quick ratio of 1.07 and a debt-to-equity ratio of 0.19. The stock has a fifty day moving average of $111.40 and a two-hundred day moving average of $105.23.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, beating analysts' consensus estimates of $0.30 by $0.04. Agilysys had a return on equity of 10.53% and a net margin of 37.54%. The company had revenue of $68.30 million for the quarter, compared to analysts' expectations of $67.54 million. During the same quarter in the previous year, the company posted $0.25 earnings per share. The business's revenue for the quarter was up 16.6% compared to the same quarter last year. On average, research analysts anticipate that Agilysys, Inc. will post 0.81 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the company's stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total value of $1,097,700.00. Following the completion of the sale, the chief executive officer now directly owns 778,367 shares of the company's stock, valued at approximately $85,441,345.59. This represents a 1.27 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO William David Wood III sold 588 shares of the business's 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 $59,305.68. Following the completion of the sale, the chief financial officer now owns 49,479 shares in the company, valued at $4,990,451.94. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,023 shares of company stock valued at $4,548,979 over the last 90 days. 19.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

Agilysys Profile

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.