Covestor Ltd Sells 294 Shares of Agilysys, Inc. (NASDAQ:AGYS)

Covestor Ltd cut its stake in Agilysys, Inc. (NASDAQ:AGYS) by 17.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,440 shares of the software maker’s stock after selling 294 shares during the quarter. Covestor Ltd’s holdings in Agilysys were worth $105,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Mpwm Advisory Solutions LLC bought a new stake in Agilysys in the fourth quarter worth $64,000. Harbor Investment Advisory LLC increased its stake in Agilysys by 64.6% in the first quarter. Harbor Investment Advisory LLC now owns 609 shares of the software maker’s stock worth $44,000 after purchasing an additional 239 shares during the period. Canada Pension Plan Investment Board purchased a new stake in Agilysys in the fourth quarter worth $145,000. Cloud Capital Management LLC purchased a new stake in Agilysys in the first quarter worth $86,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Agilysys by 11.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,405 shares of the software maker’s stock worth $102,000 after purchasing an additional 141 shares during the period. 88.00% of the stock is currently owned by institutional investors.

Insider Transactions at Agilysys

In other news, SVP Kyle C. Badger sold 326 shares of the firm’s stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $113.39, for a total transaction of $36,965.14. Following the transaction, the senior vice president owned 114,791 shares in the company, valued at approximately $13,016,151.49. This trade represents a 0.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director John Mutch sold 500 shares of Agilysys stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $110.83, for a total value of $55,415.00. Following the completion of the transaction, the director owned 31,404 shares in the company, valued at $3,480,505.32. This trade represents a 1.57% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,405 shares of company stock worth $158,033. Corporate insiders own 8.60% of the company’s stock.

Agilysys Stock Performance

Shares of Agilysys stock opened at $105.51 on Tuesday. The firm has a market cap of $2.96 billion, a P/E ratio of 211.02 and a beta of 0.71. The company has a current ratio of 1.11, a quick ratio of 1.04 and a debt-to-equity ratio of 0.04. Agilysys, Inc. has a 12 month low of $63.71 and a 12 month high of $142.64. The stock’s fifty day moving average price is $113.45 and its 200-day moving average price is $92.14.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings results on Monday, July 21st. The software maker reported $0.33 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.03). The firm had revenue of $76.68 million for the quarter, compared to analysts’ expectations of $74.42 million. Agilysys had a net margin of 4.85% and a return on equity of 11.13%. The business’s quarterly revenue was up 20.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 EPS. On average, equities research analysts expect that Agilysys, Inc. will post 0.8 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on AGYS shares. Cantor Fitzgerald started coverage on Agilysys in a research note on Tuesday, June 3rd. They issued an “overweight” rating and a $125.00 target price on the stock. Oppenheimer increased their target price on Agilysys from $90.00 to $120.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 22nd. Northland Securities set a $152.00 target price on Agilysys in a research note on Tuesday, May 20th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Agilysys in a research note on Tuesday, May 20th. One investment analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $120.86.

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.