Fred Alger Management LLC Has $97.69 Million Position in Agilysys, Inc. (NASDAQ:AGYS)

Fred Alger Management LLC raised its position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 1.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 938,058 shares of the software maker's stock after purchasing an additional 17,898 shares during the period. Fred Alger Management LLC owned approximately 3.36% of Agilysys worth $97,689,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in AGYS. GAMMA Investing LLC lifted its position 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 buying an additional 154 shares during the last quarter. CWM LLC raised its stake in Agilysys by 390.2% during the second quarter. CWM LLC now owns 250 shares of the software maker's stock worth $26,000 after acquiring an additional 199 shares in the last quarter. Larson Financial Group LLC bought a new position in shares of Agilysys in the second quarter worth about $32,000. YHB Investment Advisors Inc. acquired a new stake in shares of Agilysys in the 1st quarter valued at approximately $35,000. Finally, RiverPark Advisors LLC grew 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 valued at $149,000 after purchasing an additional 1,383 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Ramesh Srinivasan sold 10,000 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the completion of the sale, the chief executive officer now owns 778,367 shares of the company's stock, valued at $85,441,345.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $109.77, for a total transaction of $1,097,700.00. Following the transaction, the chief executive officer now directly owns 778,367 shares of the company's stock, valued at $85,441,345.59. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Kyle C. Badger sold 249 shares of the company's stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $102.03, for a total transaction of $25,405.47. Following the transaction, the senior vice president now owns 115,834 shares in the company, valued at approximately $11,818,543.02. The disclosure for this sale can be found here. Insiders have sold 35,543 shares of company stock valued at $3,790,212 in the last ninety days. 23.60% of the stock is owned by company insiders.

Agilysys Stock Performance

Shares of AGYS stock traded down $0.51 on Wednesday, hitting $107.40. The company had a trading volume of 185,755 shares, compared to its average volume of 218,185. Agilysys, Inc. has a twelve month low of $63.78 and a twelve month high of $114.70. The firm has a market cap of $2.99 billion, a P/E ratio of 33.99 and a beta of 0.83. The stock's 50-day moving average is $107.42 and its two-hundred day moving average is $96.21.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its earnings results on Monday, July 22nd. The software maker reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The business 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 company's revenue for the quarter was up 13.2% compared to the same quarter last year. Equities research analysts predict that Agilysys, Inc. will post 0.62 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on AGYS shares. William Blair started coverage on shares of Agilysys in a research note on Monday, June 24th. They set an "outperform" rating on the stock. StockNews.com upgraded Agilysys from a "hold" rating to a "buy" rating in a research report on Tuesday, September 17th. Oppenheimer increased their target price on Agilysys from $100.00 to $120.00 and gave the company an "outperform" rating in a research report on Friday, July 19th. BTIG Research boosted their price target on Agilysys from $95.00 to $118.00 and gave the stock a "buy" rating in a report on Friday, July 19th. Finally, Northland Securities upped their price objective on Agilysys from $118.00 to $132.00 and gave the company an "outperform" rating in a research note on Monday, September 16th. Seven analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $124.00.

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.