Arizona State Retirement System Increases Stake in Agilysys, Inc. (NASDAQ:AGYS)

Arizona State Retirement System grew its position in Agilysys, Inc. (NASDAQ:AGYS) by 7.9% during the 4th quarter, HoldingsChannel reports. The fund owned 7,676 shares of the software maker’s stock after purchasing an additional 561 shares during the period. Arizona State Retirement System’s holdings in Agilysys were worth $1,011,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Synergy Asset Management LLC increased its stake in Agilysys by 19.1% in 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. lifted its holdings in Agilysys by 59.1% during the 3rd quarter. Eagle Asset Management Inc. now owns 142,738 shares of the software maker’s stock valued at $16,959,000 after buying an additional 53,026 shares in the last quarter. State Street Corp lifted its holdings in Agilysys by 5.0% during the 3rd quarter. State Street Corp now owns 918,823 shares of the software maker’s stock valued at $100,124,000 after buying an additional 43,760 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Agilysys by 6.2% during the 3rd quarter. Geode Capital Management LLC now owns 528,615 shares of the software maker’s stock valued at $57,614,000 after buying an additional 30,655 shares in the last quarter. Finally, Smartleaf Asset Management LLC lifted its holdings in Agilysys by 381.8% during the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after buying an additional 336 shares in the last quarter. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Agilysys Stock Down 3.7 %

AGYS stock opened at $71.45 on Friday. The firm’s fifty day simple moving average is $95.89 and its 200-day simple moving average is $110.64. The company has a market capitalization of $2.00 billion, a P/E ratio of 89.31 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 12 month low of $71.37 and a 12 month high of $142.64.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Tuesday, January 21st. The software maker reported $0.38 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $69.60 million during the quarter, compared to analysts’ expectations of $73.15 million. During the same period in the previous year, the business posted $0.35 EPS. The business’s revenue was up 14.9% compared to the same quarter last year. As a group, equities research analysts forecast that Agilysys, Inc. will post 0.8 earnings per share for the current year.

Insider Activity at Agilysys

In other Agilysys news, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $132.98, for a total transaction of $997,350.00. Following the completion of the transaction, the director now directly owns 270,576 shares in the company, valued at approximately $35,981,196.48. This represents a 2.70 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director John Mutch sold 2,000 shares of the company’s stock in a transaction on Friday, March 7th. The stock was sold at an average price of $77.87, for a total transaction of $155,740.00. Following the transaction, the director now owns 32,654 shares of the company’s stock, valued at $2,542,766.98. This represents a 5.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,500 shares of company stock worth $8,651,740 in the last three months. Company insiders own 19.30% of the company’s stock.

Analysts Set New Price Targets

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

Agilysys Company 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.