KLP Kapitalforvaltning AS Purchases Shares of 5,600 Agilysys, Inc. (NASDAQ:AGYS)

KLP Kapitalforvaltning AS bought a new stake in Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,600 shares of the software maker's stock, valued at approximately $738,000.

A number of other large investors also recently made changes to their positions in the company. Lord Abbett & CO. LLC grew 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 valued at $115,383,000 after buying an additional 340,424 shares in the last quarter. State Street Corp boosted its position in shares of Agilysys by 5.0% in the third quarter. State Street Corp now owns 918,823 shares of the software maker's stock valued at $100,124,000 after acquiring an additional 43,760 shares during the period. Geode Capital Management LLC increased its position in Agilysys by 6.2% during the third quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker's stock worth $57,614,000 after acquiring an additional 30,655 shares during the period. FMR LLC raised its stake 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 purchasing an additional 466,704 shares in the last quarter. Finally, American Century Companies Inc. boosted its holdings in Agilysys by 4.6% in the 4th quarter. American Century Companies Inc. now owns 451,812 shares of the software maker's stock valued at $59,508,000 after purchasing an additional 19,994 shares during the period. Institutional investors own 88.00% of the company's stock.

Insider Activity at Agilysys

In related news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm's stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $132.04, for a total value of $990,300.00. Following the completion of the transaction, the director now owns 300,576 shares in the company, valued at $39,688,055.04. This trade represents a 2.43 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John Mutch sold 750 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $75.33, for a total transaction of $56,497.50. Following the sale, the director now directly owns 31,904 shares in the company, valued at $2,403,328.32. The trade was a 2.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 62,750 shares of company stock valued at $7,729,113 in the last 90 days. 19.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Oppenheimer dropped their price target on shares of Agilysys from $150.00 to $135.00 and set an "outperform" rating for the company in a research report on Wednesday, January 22nd. Northland Securities upped their target price on Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. Craig Hallum dropped their price target on Agilysys from $125.00 to $120.00 and set a "buy" rating for the company in a research note on Wednesday, January 22nd. Needham & Company LLC reduced their price objective on shares of Agilysys from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Finally, UBS Group set a $100.00 target price on shares of Agilysys in a report on Wednesday, March 5th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, Agilysys presently has a consensus rating of "Moderate Buy" and a consensus price target of $127.50.

Agilysys Price Performance

Agilysys stock traded down $2.04 during midday trading on Friday, reaching $69.35. The company's stock had a trading volume of 364,767 shares, compared to its average volume of 253,935. The stock has a market cap of $1.94 billion, a PE ratio of 86.69 and a beta of 0.64. 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, Inc. has a 52 week low of $67.19 and a 52 week high of $142.64. The business has a 50-day moving average price of $80.26 and a 200-day moving average price of $107.14.

Agilysys (NASDAQ:AGYS - Get Free Report) last announced its quarterly earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $69.60 million for the quarter, compared to analyst estimates of $73.15 million. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The firm's revenue was up 14.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.35 EPS. On average, sell-side analysts predict that Agilysys, Inc. will post 0.8 EPS for the current 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.