Pitcairn Co. Makes New Investment in Agilysys, Inc. (NASDAQ:AGYS)

Pitcairn Co. acquired a new stake in shares of Agilysys, Inc. (NASDAQ:AGYS) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 4,077 shares of the software maker’s stock, valued at approximately $444,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Agilysys by 12.3% during the 1st quarter. Vanguard Group Inc. now owns 1,976,386 shares of the software maker’s stock valued at $166,530,000 after purchasing an additional 217,008 shares in the last quarter. American Century Companies Inc. increased its position in shares of Agilysys by 1,861.4% during the second quarter. American Century Companies Inc. now owns 221,109 shares of the software maker’s stock worth $23,026,000 after acquiring an additional 209,836 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Agilysys in the 2nd quarter worth about $21,039,000. Conestoga Capital Advisors LLC bought a new position in Agilysys in the 2nd quarter valued at about $16,546,000. Finally, International Assets Investment Management LLC acquired a new position in Agilysys during the 3rd quarter valued at about $8,312,000. 88.00% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on AGYS shares. Northland Securities reissued an “outperform” rating and issued a $145.00 price objective (up from $132.00) on shares of Agilysys in a research note on Tuesday, October 29th. Needham & Company LLC increased their price target on Agilysys from $125.00 to $145.00 and gave the company a “buy” rating in a research report on Friday, November 15th. Oppenheimer lifted their price objective on shares of Agilysys from $120.00 to $135.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. StockNews.com downgraded shares of Agilysys from a “buy” rating to a “hold” rating in a report on Thursday, October 31st. Finally, BTIG Research boosted their price target on shares of Agilysys from $118.00 to $124.00 and gave the stock a “buy” rating in a report on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $134.80.

Insiders Place Their Bets

In related news, Director Melvin L. Keating sold 3,280 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $122.84, for a total value of $402,915.20. Following the completion of the transaction, the director now directly owns 34,407 shares of the company’s stock, valued at approximately $4,226,555.88. This trade represents a 8.70 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director John Mutch sold 500 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $137.86, for a total transaction of $68,930.00. Following the sale, the director now directly owns 34,654 shares in the company, valued at $4,777,400.44. The trade was a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 38,523 shares of company stock valued at $4,182,589 over the last ninety days. 19.30% of the stock is currently owned by insiders.

Agilysys Price Performance

AGYS opened at $137.72 on Wednesday. Agilysys, Inc. has a fifty-two week low of $73.52 and a fifty-two week high of $139.99. The firm has a 50-day moving average of $114.09 and a 200 day moving average of $106.96. The company has a debt-to-equity ratio of 0.19, a quick ratio of 1.07 and a current ratio of 1.13. The firm has a market cap of $3.85 billion, a P/E ratio of 39.24 and a beta of 0.85.

Agilysys (NASDAQ:AGYS) last released its earnings results on Monday, October 28th. The software maker reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.30 by $0.04. The firm had revenue of $68.30 million during the quarter, compared to the consensus estimate of $67.54 million. Agilysys had a net margin of 37.54% and a return on equity of 10.53%. The company’s revenue was up 16.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.25 EPS. On average, research analysts expect that Agilysys, Inc. will post 0.81 EPS for the current year.

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.