Jennison Associates LLC Invests $689,000 in Agilysys, Inc. (NASDAQ:AGYS)

Jennison Associates LLC bought a new stake in Agilysys, Inc. (NASDAQ:AGYS - Free Report) in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm bought 6,326 shares of the software maker's stock, valued at approximately $689,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. CWM LLC grew its stake in Agilysys by 390.2% in the second quarter. CWM LLC now owns 250 shares of the software maker's stock valued at $26,000 after acquiring an additional 199 shares during the period. GAMMA Investing LLC grew its position in Agilysys by 162.1% in the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker's stock valued at $26,000 after purchasing an additional 154 shares during the period. Larson Financial Group LLC bought a new stake in Agilysys during the 2nd quarter valued at $32,000. NBC Securities Inc. acquired a new position in shares of Agilysys during the third quarter valued at about $46,000. Finally, Exchange Traded Concepts LLC increased its position in shares of Agilysys by 76.2% during the third quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker's stock worth $52,000 after acquiring an additional 205 shares in the last quarter. 88.00% of the stock is owned by institutional investors.

Agilysys Stock Performance

NASDAQ:AGYS traded up $5.50 on Friday, reaching $137.48. 210,206 shares of the company's stock were exchanged, compared to its average volume of 256,603. The stock has a fifty day simple moving average of $112.71 and a 200-day simple moving average of $105.99. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.13 and a quick ratio of 1.07. Agilysys, Inc. has a 52 week low of $73.52 and a 52 week high of $138.19. The firm has a market cap of $3.84 billion, a price-to-earnings ratio of 39.17 and a beta of 0.85.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.30 by $0.04. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The firm had revenue of $68.30 million for the quarter, compared to the consensus estimate of $67.54 million. During the same period in the prior year, the firm posted $0.25 earnings per share. The company's revenue for the quarter was up 16.6% on a year-over-year basis. As a group, sell-side analysts predict that Agilysys, Inc. will post 0.81 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

In other Agilysys news, CFO William David Wood III sold 588 shares of Agilysys stock in a transaction dated 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 of the company's stock, valued at $4,990,451.94. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Kyle C. Badger sold 471 shares of the company'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 value of $47,505.06. Following the completion of the sale, the senior vice president now directly owns 115,117 shares of the company's stock, valued at approximately $11,610,700.62. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,023 shares of company stock worth $4,548,979 in the last ninety days. 19.30% of the stock is currently owned by insiders.

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.