JPMorgan Chase & Co. Sells 7,603 Shares of Agilysys, Inc. (NASDAQ:AGYS)

JPMorgan Chase & Co. lessened its stake in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 13.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 48,067 shares of the software maker's stock after selling 7,603 shares during the quarter. JPMorgan Chase & Co. owned 0.17% of Agilysys worth $5,238,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of the stock. FMR LLC increased its holdings in Agilysys by 1,197.1% in the 3rd quarter. FMR LLC now owns 505,690 shares of the software maker's stock worth $55,105,000 after buying an additional 466,704 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in Agilysys by 47.4% in the 3rd 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 in the last quarter. American Century Companies Inc. increased its holdings in Agilysys by 1,861.4% in the 2nd quarter. American Century Companies Inc. now owns 221,109 shares of the software maker's stock worth $23,026,000 after buying an additional 209,836 shares in the last quarter. Conestoga Capital Advisors LLC increased its holdings in Agilysys by 79.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 285,071 shares of the software maker's stock worth $31,064,000 after buying an additional 126,193 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Agilysys by 434.3% in the 3rd quarter. Franklin Resources Inc. now owns 98,128 shares of the software maker's stock worth $11,477,000 after buying an additional 79,764 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company's stock.

Insider Transactions at Agilysys

In other news, insider Chris J. Robertson sold 264 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 transaction of $26,627.04. Following the sale, the insider now directly owns 22,624 shares of the company's stock, valued at $2,281,856.64. This represents a 1.15 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John Mutch sold 500 shares of the company's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.24, for a total value of $52,120.00. Following the sale, the director now directly owns 35,858 shares in the company, valued at $3,737,837.92. This trade represents a 1.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 55,122 shares of company stock valued at $7,099,841 in the last ninety days. Corporate insiders own 19.30% of the company's stock.

Analysts Set New Price Targets

A number of research firms have issued reports on AGYS. Needham & Company LLC boosted 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. Oppenheimer boosted their price target on Agilysys from $135.00 to $150.00 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. BTIG Research boosted their price target 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 Agilysys from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. Finally, Northland Securities boosted their price target on Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat.com, Agilysys presently has a consensus rating of "Moderate Buy" and a consensus target price of $146.00.

Agilysys Stock Performance

Shares of NASDAQ:AGYS traded down $8.41 during mid-day trading on Friday, reaching $124.57. 401,962 shares of the company traded hands, compared to its average volume of 195,990. The company's 50 day moving average price is $131.76 and its 200-day moving average price is $116.31. The firm has a market cap of $3.48 billion, a PE ratio of 35.49 and a beta of 0.94. 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 $74.03 and a 52 week high of $142.64.

Agilysys (NASDAQ:AGYS - Get Free Report) last posted its quarterly earnings results on Monday, October 28th. The software maker reported $0.34 EPS for the quarter, topping 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 period in the previous year, the firm earned $0.25 EPS. The firm's revenue was up 16.6% compared to the same quarter last year. On average, equities analysts expect that Agilysys, Inc. will post 0.81 EPS for the current fiscal year.

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.