Wasatch Advisors LP Cuts Position in Agilysys, Inc. (NASDAQ:AGYS)

Wasatch Advisors LP lowered its stake in shares of Agilysys, Inc. (NASDAQ:AGYS - Free Report) by 8.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 896,204 shares of the software maker's stock after selling 80,196 shares during the quarter. Wasatch Advisors LP owned about 3.21% of Agilysys worth $118,039,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Harbor Investment Advisory LLC raised its stake in shares of Agilysys by 109.0% in the fourth quarter. Harbor Investment Advisory LLC now owns 370 shares of the software maker's stock worth $49,000 after purchasing an additional 193 shares during the last quarter. Smartleaf Asset Management LLC raised 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 last quarter. Arcadia Investment Management Corp MI purchased a new stake in shares of Agilysys in the 4th quarter valued at $61,000. Assetmark Inc. acquired a new stake in shares of Agilysys in the fourth quarter worth $115,000. Finally, Huntington National Bank raised its holdings in shares of Agilysys by 319.1% during the fourth quarter. Huntington National Bank now owns 922 shares of the software maker's stock worth $121,000 after purchasing an additional 702 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group set a $100.00 price target on shares of Agilysys in a report on Wednesday, March 5th. Northland Securities raised their target price on Agilysys from $145.00 to $186.00 and gave the company an "outperform" rating in a research report on Tuesday, January 7th. Needham & Company LLC decreased their target price on shares of Agilysys from $125.00 to $100.00 and set a "buy" rating on the stock in a research note on Wednesday, March 5th. Oppenheimer dropped their price target on Agilysys from $135.00 to $90.00 and set an "outperform" rating for the company in a research report on Wednesday, April 9th. Finally, Craig Hallum dropped their price objective 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. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $120.00.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 750 shares of the firm'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 transaction, the director now directly owns 31,904 shares of the company's stock, valued at approximately $2,403,328.32. This trade represents a 2.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company's stock in a transaction dated Thursday, January 23rd. The shares were sold at an average price of $96.68, for a total transaction of $725,100.00. Following the completion of the sale, the director now directly owns 233,076 shares of the company's stock, valued at $22,533,787.68. The trade was a 3.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,750 shares of company stock valued at $1,878,513. 19.30% of the stock is owned by corporate insiders.

Agilysys Stock Up 1.2 %

Shares of AGYS traded up $0.81 during mid-day trading on Friday, hitting $69.45. 139,188 shares of the company's stock were exchanged, compared to its average volume of 259,571. The stock's 50-day moving average is $75.64 and its 200-day moving average is $103.98. The company has a market cap of $1.94 billion, a price-to-earnings ratio of 86.81 and a beta of 0.64. The company has a debt-to-equity ratio of 0.15, a quick ratio of 1.09 and a current ratio of 1.14. Agilysys, Inc. has a fifty-two week low of $63.71 and a fifty-two week high of $142.64.

Agilysys (NASDAQ:AGYS - Get Free Report) last released its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share for the quarter, topping analysts' consensus estimates of $0.34 by $0.04. Agilysys had a net margin of 8.45% and a return on equity of 9.38%. The firm had revenue of $69.60 million for the quarter, compared to analyst estimates of $73.15 million. During the same period in the prior year, the firm earned $0.35 earnings per share. The business's quarterly revenue was up 14.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

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.