Raymond James Financial Inc. Acquires New Position in Agilysys, Inc. (NASDAQ:AGYS)

Raymond James Financial Inc. bought a new position in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 149,093 shares of the software maker's stock, valued at approximately $19,637,000. Raymond James Financial Inc. owned 0.53% of Agilysys at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Synergy Asset Management LLC boosted its position in Agilysys by 19.1% during the 4th quarter. Synergy Asset Management LLC now owns 86,080 shares of the software maker's stock worth $11,157,000 after buying an additional 13,785 shares during the period. Eagle Asset Management Inc. boosted its position in Agilysys by 59.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 142,738 shares of the software maker's stock worth $16,959,000 after buying an additional 53,026 shares during the period. State Street Corp boosted its position in Agilysys by 5.0% during the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker's stock worth $100,124,000 after buying an additional 43,760 shares during the period. Geode Capital Management LLC boosted its position in Agilysys by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker's stock worth $57,614,000 after buying an additional 30,655 shares during the period. Finally, Smartleaf Asset Management LLC boosted its position in Agilysys by 381.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker's stock worth $57,000 after buying an additional 336 shares during the period. 88.00% of the stock is currently owned by institutional investors and hedge funds.

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Agilysys Trading Down 1.9 %

Shares of NASDAQ:AGYS traded down $1.49 during mid-day trading on Thursday, hitting $75.09. The company had a trading volume of 156,788 shares, compared to its average volume of 245,372. The firm has a fifty day moving average price of $91.36 and a 200 day moving average price of $109.62. The company has a market capitalization of $2.10 billion, a PE ratio of 93.86 and a beta of 0.98. 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, Inc. has a one year low of $71.37 and a one year high of $142.64.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.04. The company had revenue of $69.60 million during 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%. Agilysys's revenue for the quarter was up 14.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.35 EPS. As a group, research analysts forecast that Agilysys, Inc. will post 0.8 EPS for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on AGYS shares. Needham & Company LLC cut their target price on shares of Agilysys from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Wednesday, March 5th. UBS Group set a $100.00 price target on shares of Agilysys in a report on Wednesday, March 5th. Oppenheimer lowered their price target on shares of Agilysys from $150.00 to $135.00 and set an "outperform" rating for the company in a report on Wednesday, January 22nd. Craig Hallum lowered their price target on shares of Agilysys from $125.00 to $120.00 and set a "buy" rating for the company in a report on Wednesday, January 22nd. Finally, Northland Securities raised their price target on shares of Agilysys from $145.00 to $186.00 and gave the stock an "outperform" rating in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $127.50.

Insider Activity

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the business's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $130.34, for a total transaction of $977,550.00. Following the completion of the sale, the director now owns 315,576 shares in the company, valued at approximately $41,132,175.84. The trade was a 2.32 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director John Mutch sold 750 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $75.33, for a total transaction of $56,497.50. Following the sale, the director now owns 31,904 shares of the company's stock, valued at $2,403,328.32. This trade represents a 2.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 70,250 shares of company stock worth $8,708,238 in the last quarter. 19.30% of the stock is owned by corporate insiders.

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.