Granite Investment Partners LLC Has $34.01 Million Stake in Agilysys, Inc. (NASDAQ:AGYS)

Granite Investment Partners LLC decreased its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 3.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 258,224 shares of the software maker's stock after selling 9,987 shares during the quarter. Agilysys comprises approximately 1.5% of Granite Investment Partners LLC's investment portfolio, making the stock its 11th biggest holding. Granite Investment Partners LLC owned about 0.92% of Agilysys worth $34,011,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of AGYS. Invesco Ltd. lifted its stake in Agilysys by 412.9% in the fourth quarter. Invesco Ltd. now owns 727,794 shares of the software maker's stock valued at $95,858,000 after buying an additional 585,886 shares in the last quarter. Franklin Resources Inc. raised its stake in shares of Agilysys by 521.7% in the 4th quarter. Franklin Resources Inc. now owns 610,028 shares of the software maker's stock valued at $80,347,000 after purchasing an additional 511,900 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Agilysys by 729.1% in the fourth quarter. JPMorgan Chase & Co. now owns 398,508 shares of the software maker's stock valued at $52,487,000 after purchasing an additional 350,441 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Agilysys by 47.4% during the third quarter. Lord Abbett & CO. LLC now owns 1,058,858 shares of the software maker's stock worth $115,383,000 after buying an additional 340,424 shares during the period. Finally, Principal Financial Group Inc. grew its holdings in shares of Agilysys by 268.0% during the fourth quarter. Principal Financial Group Inc. now owns 426,474 shares of the software maker's stock worth $56,169,000 after buying an additional 310,573 shares in the last quarter. Institutional investors own 88.00% of the company's stock.

Agilysys Stock Performance

AGYS stock traded up $0.81 during mid-day trading on Friday, hitting $69.45. 139,188 shares of the company were exchanged, compared to its average volume of 259,316. Agilysys, Inc. has a 1-year low of $63.71 and a 1-year high of $142.64. The stock has a market capitalization of $1.94 billion, a PE ratio of 86.81 and a beta of 0.64. The business has a 50 day simple moving average of $75.93 and a 200-day simple moving average of $104.24. The company has a current ratio of 1.14, a quick ratio of 1.09 and a debt-to-equity ratio of 0.15.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping 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 company's revenue was up 14.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 earnings per share. On average, equities analysts forecast that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Insider Activity at Agilysys

In related news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm's stock in a transaction on Thursday, January 23rd. The stock was sold at an average price of $96.68, for a total transaction of $725,100.00. Following the sale, the director now owns 233,076 shares of the company's stock, valued at $22,533,787.68. This trade represents a 3.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director John Mutch sold 750 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $75.33, for a total value of $56,497.50. Following the completion of the transaction, the director now owns 31,904 shares of the company's stock, valued at $2,403,328.32. This represents a 2.30 % 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 valued at $1,878,513 over the last ninety days. 19.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

AGYS has been the subject of a number of recent research reports. Needham & Company LLC reduced their price target on Agilysys from $125.00 to $100.00 and set a "buy" rating for the company in a research report on Wednesday, March 5th. Craig Hallum reduced 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. Northland Securities increased their price target on Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. UBS Group set a $100.00 price objective on Agilysys in a research note on Wednesday, March 5th. Finally, Oppenheimer cut their price objective on Agilysys from $135.00 to $90.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $120.00.

Agilysys Company 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.