Agilysys, Inc. (NASDAQ:AGYS) Short Interest Update

Agilysys, Inc. (NASDAQ:AGYS) was the target of a significant drop in short interest in the month of August. As of August 31st, there was short interest totalling 510,100 shares, a drop of 11.4% from the August 15th total of 575,700 shares. Based on an average daily volume of 221,000 shares, the short-interest ratio is currently 2.3 days.

Insider Buying and Selling

In other Agilysys news, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $102.03, for a total value of $1,020,300.00. Following the sale, the chief executive officer now owns 738,367 shares in the company, valued at $75,335,585.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Director John Mutch sold 1,000 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $113.69, for a total transaction of $113,690.00. Following the completion of the sale, the director now owns 36,326 shares in the company, valued at approximately $4,129,902.94. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Ramesh Srinivasan sold 10,000 shares of the company’s stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $102.03, for a total transaction of $1,020,300.00. Following the completion of the transaction, the chief executive officer now owns 738,367 shares in the company, valued at approximately $75,335,585.01. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 141,578 shares of company stock worth $14,107,417. Company insiders own 23.60% of the company’s stock.

Hedge Funds Weigh In On Agilysys

A number of institutional investors and hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC raised its position in Agilysys by 162.1% during the 2nd quarter. GAMMA Investing LLC now owns 249 shares of the software maker’s stock worth $26,000 after purchasing an additional 154 shares during the last quarter. CWM LLC grew its holdings in Agilysys by 390.2% in the second quarter. CWM LLC now owns 250 shares of the software maker’s stock worth $26,000 after purchasing an additional 199 shares during the period. Larson Financial Group LLC bought a new stake in Agilysys in the second quarter valued at $32,000. YHB Investment Advisors Inc. bought a new stake in Agilysys in the first quarter valued at $35,000. Finally, RiverPark Advisors LLC boosted its position in shares of Agilysys by 361.1% during the 1st quarter. RiverPark Advisors LLC now owns 1,766 shares of the software maker’s stock worth $149,000 after purchasing an additional 1,383 shares in the last quarter. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Trading Up 0.5 %

Shares of NASDAQ AGYS opened at $103.48 on Wednesday. The stock has a 50-day moving average price of $107.51 and a two-hundred day moving average price of $95.23. Agilysys has a 12 month low of $63.78 and a 12 month high of $114.70. The company has a market cap of $2.89 billion, a price-to-earnings ratio of 32.75 and a beta of 0.83.

Agilysys (NASDAQ:AGYS) last issued its quarterly earnings data on Monday, July 22nd. The software maker reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. Agilysys had a net margin of 40.32% and a return on equity of 12.75%. The business had revenue of $63.50 million during the quarter, compared to the consensus estimate of $64.52 million. During the same quarter in the prior year, the firm earned $0.18 EPS. The firm’s revenue was up 13.2% compared to the same quarter last year. On average, sell-side analysts predict that Agilysys will post 0.62 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have weighed in on the company. William Blair began coverage on Agilysys in a research report on Monday, June 24th. They set an “outperform” rating on the stock. BTIG Research lifted their price target on shares of Agilysys from $95.00 to $118.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Oppenheimer increased their price target on Agilysys from $100.00 to $120.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. Needham & Company LLC reaffirmed a “buy” rating and issued a $125.00 price objective on shares of Agilysys in a report on Monday. Finally, Northland Securities increased their target price on Agilysys from $118.00 to $132.00 and gave the stock an “outperform” rating in a report on Monday. Seven analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $124.00.

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.