Conestoga Capital Advisors LLC lowered its position in Agilysys, Inc. (NASDAQ:AGYS – Free Report) by 19.1% in the third quarter, Holdings Channel.com reports. The institutional investor owned 385,294 shares of the software maker’s stock after selling 91,260 shares during the period. Conestoga Capital Advisors LLC’s holdings in Agilysys were worth $37,404,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also modified their holdings of AGYS. BlackRock Inc. purchased a new position in Agilysys during the 2nd quarter worth $431,704,000. William Blair Investment Management LLC acquired a new position in Agilysys in the second quarter valued at $45,312,000. Deutsche Bank AG purchased a new stake in shares of Agilysys in the second quarter valued at about $21,593,000. Bamco Inc. NY purchased a new stake in shares of Agilysys in the second quarter valued at about $20,597,000. Finally, Bank of New York Mellon Corp purchased a new stake in shares of Agilysys in the second quarter valued at about $20,302,000. 88.00% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several brokerages recently issued reports on AGYS. Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Oppenheimer reaffirmed an “outperform” rating and set a $135.00 price objective (up from $118.00) on shares of Agilysys in a research report on Tuesday, October 27th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a research note on Tuesday, July 28th. UBS Group set a $145.00 target price on Agilysys in a report on Tuesday, October 27th. Finally, Weiss Ratings upgraded Agilysys from a “hold (c)” rating to a “hold (c+)” rating in a research note on Friday, October 30th. Five research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $141.25.
View Our Latest Research Report on AGYS
Insider Buying and Selling
In other news, CFO William Wood, III sold 6,000 shares of the company’s stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total value of $688,320.00. Following the completion of the sale, the chief financial officer owned 35,052 shares of the company’s stock, valued at $4,021,165.44. This represents a 14.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Kyle Badger sold 8,400 shares of the stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total value of $958,104.00. Following the completion of the sale, the senior vice president owned 75,037 shares of the company’s stock, valued at approximately $8,558,720.22. This trade represents a 10.07% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 42,113 shares of company stock valued at $4,662,739 over the last ninety days. Insiders own 8.70% of the company’s stock.
Agilysys Price Performance
Shares of NASDAQ AGYS opened at $122.28 on Thursday. The company has a 50-day simple moving average of $108.86 and a 200-day simple moving average of $92.37. The company has a market cap of $3.45 billion, a PE ratio of 78.86, a price-to-earnings-growth ratio of 3.27 and a beta of 0.40. Agilysys, Inc. has a 12 month low of $61.50 and a 12 month high of $133.32.
Agilysys (NASDAQ:AGYS – Get Free Report) last released its earnings results on Monday, October 26th. The software maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.12. Agilysys had a net margin of 12.88% and a return on equity of 12.98%. The business had revenue of $93.36 million for the quarter, compared to analysts’ expectations of $90.92 million. During the same period last year, the company earned $0.41 earnings per share. The company’s quarterly revenue was up 17.7% on a year-over-year basis. On average, analysts anticipate that Agilysys, Inc. will post 1.83 EPS for the current year.
About Agilysys
Agilysys, Inc develops and provides hospitality technology for hotels, resorts, casinos, cruise lines and other guest-focused businesses. Its software and services are designed to help operators manage core property functions, improve guest experiences and streamline food, beverage and retail operations.
The company’s product portfolio includes property-management systems, point-of-sale solutions, inventory and procurement tools, payment services, guest-facing applications, mobile ordering and resort-management software.
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