Pitcairn Co. Purchases New Holdings in Agilysys, Inc. (NASDAQ:AGYS)

Pitcairn Co. bought a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,077 shares of the software maker's stock, valued at approximately $444,000.

Several other institutional investors also recently bought and sold shares of the stock. CWM LLC raised its holdings in shares of Agilysys by 390.2% during the 2nd 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. GAMMA Investing LLC raised its stake in Agilysys by 162.1% during the second quarter. GAMMA Investing LLC now owns 249 shares of the software maker's stock valued at $26,000 after purchasing an additional 154 shares in the last quarter. Larson Financial Group LLC bought a new position in Agilysys during the second quarter valued at $32,000. Advisors Asset Management Inc. lifted its position in Agilysys by 117.4% during the third quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker's stock valued at $37,000 after purchasing an additional 182 shares during the last quarter. Finally, NBC Securities Inc. purchased a new position in shares of Agilysys in the 3rd quarter worth $46,000. 88.00% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Chris J. Robertson sold 264 shares of Agilysys stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $100.86, for a total transaction of $26,627.04. Following the completion of the transaction, the insider now directly owns 22,624 shares of the company's stock, valued at $2,281,856.64. The trade was a 1.15 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Ramesh Srinivasan sold 10,000 shares of the stock in a transaction 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 sale, the chief executive officer now directly owns 778,367 shares in the company, valued at $85,441,345.59. This trade represents a 1.27 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 38,523 shares of company stock valued at $4,182,589. Company insiders own 19.30% of the company's stock.

Agilysys Stock Performance

NASDAQ AGYS traded down $3.83 during trading hours on Wednesday, reaching $133.89. The stock had a trading volume of 153,276 shares, compared to its average volume of 216,782. Agilysys, Inc. has a 52-week low of $73.52 and a 52-week high of $139.99. The stock has a fifty day moving average of $114.75 and a 200 day moving average of $107.15. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. The stock has a market cap of $3.74 billion, a P/E ratio of 38.15 and a beta of 0.85.

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

Analysts Set New Price Targets

A number of brokerages have recently commented on AGYS. BTIG Research lifted their target price on Agilysys from $118.00 to $124.00 and gave the stock a "buy" rating in a report on Tuesday, October 29th. StockNews.com lowered shares of Agilysys from a "buy" rating to a "hold" rating in a research report on Thursday, October 31st. Needham & Company LLC lifted their price target on shares of 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 set a $145.00 price objective (up from $132.00) on shares of Agilysys in a report on Tuesday, October 29th. Finally, Oppenheimer upped their target price on Agilysys from $120.00 to $135.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Agilysys currently has a consensus rating of "Moderate Buy" and a consensus target price of $134.80.

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.