Short Interest in Agilysys, Inc. (NASDAQ:AGYS) Increases By 26.0%

Agilysys, Inc. (NASDAQ:AGYS - Get Free Report) was the recipient of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 610,700 shares, an increase of 26.0% from the September 15th total of 484,500 shares. Based on an average daily trading volume, of 207,800 shares, the short-interest ratio is presently 2.9 days.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. BTIG Research raised their price objective on shares of Agilysys from $95.00 to $118.00 and gave the stock a "buy" rating in a report on Friday, July 19th. Northland Securities boosted their price target on Agilysys from $118.00 to $132.00 and gave the company an "outperform" rating in a report on Monday, September 16th. William Blair assumed coverage on Agilysys in a report on Monday, June 24th. They set an "outperform" rating for the company. StockNews.com lowered Agilysys from a "buy" rating to a "hold" rating in a research report on Wednesday. Finally, Craig Hallum upped their price target on Agilysys from $105.00 to $125.00 and gave the stock a "buy" rating in a research report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $124.00.

Insiders Place Their Bets

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the business's stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the completion of the transaction, the chief executive officer now owns 738,367 shares in the company, valued at approximately $75,335,585.01. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of Agilysys stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the transaction, the chief executive officer now directly owns 738,367 shares in the company, valued at approximately $75,335,585.01. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director John Mutch sold 1,000 shares of Agilysys stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $113.69, for a total value of $113,690.00. Following the transaction, the director now owns 36,326 shares in the company, valued at $4,129,902.94. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 35,000 shares of company stock worth $3,734,810. Insiders own 23.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AGYS. GAMMA Investing LLC increased its holdings in shares of Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker's stock worth $26,000 after acquiring an additional 154 shares during the last quarter. CWM LLC increased its holdings in shares of 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 purchasing an additional 199 shares during the last quarter. Larson Financial Group LLC bought a new position in shares of Agilysys in the second quarter valued at about $32,000. Exchange Traded Concepts LLC lifted its stake in shares of Agilysys by 76.2% during the 3rd quarter. Exchange Traded Concepts LLC now owns 474 shares of the software maker's stock worth $52,000 after buying an additional 205 shares during the last quarter. Finally, RiverPark Advisors LLC boosted its holdings in shares of Agilysys by 361.1% during the 1st quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker's stock worth $149,000 after buying an additional 1,383 shares during the period. Institutional investors own 88.00% of the company's stock.

Agilysys Stock Performance

AGYS traded up $2.39 on Friday, hitting $114.90. 175,838 shares of the company were exchanged, compared to its average volume of 212,927. The stock's fifty day moving average is $107.33 and its 200-day moving average is $98.90. Agilysys has a 12 month low of $63.78 and a 12 month high of $115.52. The company has a market cap of $3.15 billion, a PE ratio of 36.36 and a beta of 0.83.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. Agilysys had a return on equity of 12.75% and a net margin of 40.32%. The company had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The firm's revenue for the quarter was up 13.2% compared to the same quarter last year. As a group, equities research analysts expect that Agilysys will post 0.62 EPS for the current fiscal year.

About Agilysys

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.