Insider Selling: Agilysys (NASDAQ:AGYS) CEO Sells 106,205 Shares

Agilysys, Inc. (NASDAQ:AGYS) CEO Ramesh Srinivasan sold 106,205 shares of the company’s stock in a transaction that occurred on Thursday, August 6th. The stock was sold at an average price of $106.62, for a total value of $11,323,577.10. Following the transaction, the chief executive officer owned 635,044 shares in the company, valued at $67,708,391.28. This trade represents a 14.33% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Ramesh Srinivasan also recently made the following trade(s):

• On Friday, August 7th, Ramesh Srinivasan sold 25,000 shares of Agilysys stock. The shares were sold at an average price of $108.15, for a total value of $2,703,750.00.
• On Wednesday, August 5th, Ramesh Srinivasan sold 66,205 shares of Agilysys stock. The shares were sold at an average price of $109.63, for a total value of $7,258,054.15.

Agilysys Price Performance

AGYS stock traded up $1.00 during midday trading on Friday, hitting $108.58. The stock had a trading volume of 218,936 shares, compared to its average volume of 352,480. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of 71.91 and a beta of 0.37. The business has a 50-day moving average of $99.82 and a two-hundred day moving average of $84.56. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25.

Agilysys (NASDAQ:AGYS) last posted its quarterly earnings data on Monday, July 27th. The software maker reported $0.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.09. Agilysys had a return on equity of 11.94% and a net margin of 12.99%.The business had revenue of $87.68 million during the quarter, compared to the consensus estimate of $85.97 million. During the same quarter in the prior year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. Research analysts predict that Agilysys, Inc. will post 1.73 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Needham & Company LLC lifted their price target on shares of Agilysys from $120.00 to $130.00 and gave the company a “buy” rating in a research report on Tuesday, July 28th. Oppenheimer restated an “outperform” rating and issued a $118.00 price objective on shares of Agilysys in a report on Tuesday, July 28th. UBS Group set a $110.00 target price on shares of Agilysys in a research note on Wednesday, June 3rd. Weiss Ratings upgraded shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a report on Monday, July 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Five analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $123.60.

Hedge Funds Weigh In On Agilysys

Several institutional investors and hedge funds have recently modified their holdings of the stock. BlackRock Inc. bought a new position in Agilysys in the 2nd quarter worth about $431,704,000. Vanguard Group Inc. increased its stake in Agilysys by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock valued at $286,160,000 after purchasing an additional 32,052 shares in the last quarter. Wasatch Advisors LP lifted its stake in shares of Agilysys by 5.3% in the second quarter. Wasatch Advisors LP now owns 1,004,918 shares of the software maker’s stock worth $115,204,000 after buying an additional 50,536 shares in the last quarter. State Street Corp grew its holdings in shares of Agilysys by 0.5% during the fourth quarter. State Street Corp now owns 1,003,062 shares of the software maker’s stock valued at $119,204,000 after buying an additional 4,516 shares during the last quarter. Finally, Capital Research Global Investors bought a new stake in shares of Agilysys during the fourth quarter valued at approximately $104,878,000. 88.00% of the stock is currently owned by institutional investors.

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.