Riverbridge Partners LLC Has $39.47 Million Stake in Agilysys, Inc. $AGYS

Riverbridge Partners LLC lowered its stake in Agilysys, Inc. (NASDAQ:AGYS) by 11.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 332,157 shares of the software maker’s stock after selling 44,934 shares during the period. Riverbridge Partners LLC owned 1.18% of Agilysys worth $39,474,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of AGYS. Vanguard Group Inc. increased its stake in shares of Agilysys by 3.3% in the 3rd quarter. Vanguard Group Inc. now owns 2,375,895 shares of the software maker’s stock valued at $250,063,000 after buying an additional 76,886 shares during the period. Wasatch Advisors LP boosted its holdings in Agilysys by 5.3% in the second quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock valued at $115,204,000 after acquiring an additional 50,536 shares during the last quarter. Wellington Management Group LLP increased its position in Agilysys by 75.9% in the third quarter. Wellington Management Group LLP now owns 690,498 shares of the software maker’s stock worth $72,675,000 after purchasing an additional 297,846 shares during the period. Brown Capital Management LLC raised its holdings in Agilysys by 0.3% during the 2nd quarter. Brown Capital Management LLC now owns 645,183 shares of the software maker’s stock worth $73,964,000 after purchasing an additional 1,854 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its position in Agilysys by 2.3% during the 3rd quarter. Artisan Partners Limited Partnership now owns 644,199 shares of the software maker’s stock valued at $67,802,000 after purchasing an additional 14,308 shares during the period. Institutional investors and hedge funds own 88.00% of the company’s stock.

Wall Street Analyst Weigh In

AGYS has been the subject of a number of recent research reports. Oppenheimer boosted their price target on shares of Agilysys from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Thursday, December 4th. UBS Group reissued a “buy” rating on shares of Agilysys in a research note on Monday, December 15th. Wall Street Zen cut Agilysys from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. BTIG Research initiated coverage on Agilysys in a research note on Tuesday, December 16th. They issued a “neutral” rating on the stock. Finally, Needham & Company LLC decreased their target price on Agilysys from $140.00 to $120.00 and set a “buy” rating for the company in a research report on Tuesday, February 17th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $141.40.

Insider Transactions at Agilysys

In related news, Director Melvin L. Keating bought 300 shares of the company’s stock in a transaction on Tuesday, February 3rd. The shares were purchased at an average cost of $83.62 per share, for a total transaction of $25,086.00. Following the acquisition, the director owned 35,007 shares of the company’s stock, valued at approximately $2,927,285.34. This represents a 0.86% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders purchased 1,000 shares of company stock worth $77,669. 8.60% of the stock is currently owned by corporate insiders.

Agilysys Trading Up 0.8%

Shares of Agilysys stock opened at $72.37 on Friday. The stock’s fifty day simple moving average is $82.27 and its 200 day simple moving average is $105.28. The company has a market capitalization of $2.03 billion, a PE ratio of 67.64 and a beta of 0.36. Agilysys, Inc. has a 12 month low of $63.71 and a 12 month high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its earnings results on Monday, January 26th. The software maker reported $0.42 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.04). The business had revenue of $80.39 million during the quarter, compared to analyst estimates of $79.07 million. Agilysys had a net margin of 9.79% and a return on equity of 10.71%. The firm’s revenue was up 15.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.38 earnings per share. Analysts predict that Agilysys, Inc. will post 0.8 EPS for the current fiscal year.

About Agilysys

Agilysys, Inc is a publicly traded technology company (NASDAQ: AGYS) that specializes in providing software and services to the hospitality industry. The company’s solutions span property management, point-of-sale, inventory and procurement, workforce management, analytics and mobile guest engagement. These offerings are designed to streamline hotel and resort operations, enhance guest experiences and improve financial performance for clients across the lodging, gaming, cruise, senior living and higher-education markets.

Agilysys delivers its portfolio through both cloud-based and on-premises deployments, enabling hoteliers and hospitality operators to select the infrastructure model that best aligns with their operational requirements and IT strategies.