Cibc World Markets Corp Makes New $278,000 Investment in Agilysys, Inc. (NASDAQ:AGYS)

Cibc World Markets Corp bought a new stake in Agilysys, Inc. (NASDAQ:AGYS) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 2,108 shares of the software maker’s stock, valued at approximately $278,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its position in shares of Agilysys by 117.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 337 shares of the software maker’s stock worth $37,000 after buying an additional 182 shares during the last quarter. Harbor Investment Advisory LLC lifted its holdings 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 acquiring an additional 193 shares during the last quarter. Smartleaf Asset Management LLC boosted its stake in shares of Agilysys by 381.8% in the 4th quarter. Smartleaf Asset Management LLC now owns 424 shares of the software maker’s stock valued at $57,000 after purchasing an additional 336 shares in the last quarter. Arcadia Investment Management Corp MI bought a new stake in shares of Agilysys during the 4th quarter valued at approximately $61,000. Finally, Assetmark Inc. acquired a new position in Agilysys during the 4th quarter worth approximately $115,000. 88.00% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Agilysys news, Director John Mutch sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, March 7th. The stock was sold at an average price of $77.87, for a total value of $155,740.00. Following the transaction, the director now directly owns 32,654 shares of the company’s stock, valued at approximately $2,542,766.98. The trade was a 5.77 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kaufman 2012 Descendants Trust sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $130.34, for a total transaction of $977,550.00. Following the sale, the director now directly owns 315,576 shares of the company’s stock, valued at approximately $41,132,175.84. This trade represents a 2.32 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,250 shares of company stock worth $8,708,238. Company insiders own 19.30% of the company’s stock.

Wall Street Analysts Forecast Growth

AGYS has been the topic of a number of research reports. Oppenheimer decreased their target price on shares of Agilysys from $150.00 to $135.00 and set an “outperform” rating on the stock in a research note on Wednesday, January 22nd. UBS Group set a $100.00 price objective on Agilysys in a research report on Wednesday, March 5th. Needham & Company LLC dropped their target price on Agilysys from $125.00 to $100.00 and set a “buy” rating for the company in a research report on Wednesday, March 5th. Northland Securities boosted their price target on Agilysys from $145.00 to $186.00 and gave the stock an “outperform” rating in a report on Tuesday, January 7th. 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 equities research analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $127.50.

Agilysys Stock Performance

Shares of AGYS stock opened at $77.84 on Wednesday. The stock has a market capitalization of $2.18 billion, a PE ratio of 97.30 and a beta of 0.98. The business’s 50 day simple moving average is $87.02 and its 200 day simple moving average is $108.75. 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) last posted its quarterly earnings data on Tuesday, January 21st. The software maker reported $0.38 EPS for the quarter, beating 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 company 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 posted $0.35 EPS. The company’s quarterly revenue was up 14.9% on a year-over-year basis. As a group, research analysts forecast that Agilysys, Inc. will post 0.8 earnings per share for the current year.

About Agilysys

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.