Principal Financial Group Inc. Purchases 310,573 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Principal Financial Group Inc. increased its position in Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 268.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 426,474 shares of the software maker's stock after acquiring an additional 310,573 shares during the quarter. Principal Financial Group Inc. owned about 1.53% of Agilysys worth $56,169,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the business. Advisors Asset Management Inc. boosted its holdings in shares of Agilysys by 117.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker's stock worth $37,000 after purchasing an additional 182 shares in the last quarter. Harbor Investment Advisory LLC lifted its holdings in Agilysys by 109.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker's stock worth $49,000 after buying an additional 193 shares during the period. Exchange Traded Concepts LLC boosted 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 valued at $52,000 after purchasing an additional 205 shares in the last quarter. CWM LLC boosted its position in shares of Agilysys by 169.2% during the third quarter. CWM LLC now owns 673 shares of the software maker's stock valued at $73,000 after purchasing an additional 423 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in Agilysys by 1,838.8% in the third quarter. Blue Trust Inc. now owns 950 shares of the software maker's stock worth $99,000 after purchasing an additional 901 shares during the period. 88.00% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of Agilysys stock in a transaction dated Thursday, January 23rd. The stock was sold at an average price of $96.68, for a total value of $725,100.00. Following the sale, the director now directly owns 233,076 shares of the company's stock, valued at approximately $22,533,787.68. The trade was a 3.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO William David Wood III sold 1,870 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $134.01, for a total transaction of $250,598.70. Following the completion of the transaction, the chief financial officer now directly owns 47,609 shares of the company's stock, valued at approximately $6,380,082.09. The trade was a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 70,599 shares of company stock valued at $8,913,222. Company insiders own 19.30% of the company's stock.

Agilysys Stock Performance

Shares of Agilysys stock traded down $3.39 during trading on Friday, hitting $77.54. 324,534 shares of the company's stock traded hands, compared to its average volume of 409,295. The business has a 50-day simple moving average of $113.08 and a 200-day simple moving average of $113.76. Agilysys, Inc. has a 1 year low of $74.03 and a 1 year high of $142.64. The stock has a market capitalization of $2.17 billion, a P/E ratio of 96.93 and a beta of 0.93. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.14 and a quick ratio of 1.09.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Northland Securities lifted their target price on shares of Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a report on Tuesday, January 7th. BTIG Research lifted their price objective on Agilysys from $118.00 to $124.00 and gave the company a "buy" rating in a research note on Tuesday, October 29th. Needham & Company LLC cut their target price on Agilysys from $145.00 to $125.00 and set a "buy" rating on the stock in a research note on Wednesday, January 22nd. Craig Hallum reduced their price target on Agilysys from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Finally, StockNews.com cut shares of Agilysys from a "buy" rating to a "hold" rating in a research note on Thursday, October 31st. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $138.00.

Agilysys 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.