Insider Selling: Agilysys (NASDAQ:AGYS) CFO Sells $688,320.00 in Stock

Agilysys, Inc. (NASDAQ:AGYS) CFO William David Wood III sold 6,000 shares of Agilysys stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total value of $688,320.00. Following the sale, the chief financial officer directly owned 35,052 shares of the company’s stock, valued at $4,021,165.44. This represents a 14.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Agilysys Stock Performance

Shares of Agilysys stock opened at $113.80 on Friday. The firm has a 50-day moving average of $104.56 and a 200-day moving average of $85.50. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25. The stock has a market cap of $3.21 billion, a PE ratio of 75.36 and a beta of 0.37.

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

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Piper Sandler raised their target price on shares of Agilysys from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Tuesday, July 28th. Needham & Company LLC increased their price target on Agilysys from $130.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, August 10th. Oppenheimer restated an “outperform” rating and set a $118.00 price objective on shares of Agilysys in a research note on Tuesday, July 28th. UBS Group set a $110.00 price objective on Agilysys in a report on Wednesday, June 3rd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Agilysys in a research report on Tuesday, July 28th. Five investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $124.60.

Hedge Funds Weigh In On Agilysys

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Agilysys during the 2nd quarter worth approximately $431,704,000. Capital Research Global Investors acquired a new position in Agilysys during the fourth quarter valued at approximately $104,878,000. William Blair Investment Management LLC acquired a new position in Agilysys during the second quarter valued at approximately $45,312,000. Wellington Management Group LLP lifted its stake in Agilysys by 75.9% during 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 last quarter. Finally, Wasatch Advisors LP lifted its stake in Agilysys by 33.0% during the first quarter. Wasatch Advisors LP now owns 953,730 shares of the software maker’s stock worth $67,848,000 after purchasing an additional 236,373 shares during the last quarter. 88.00% of the stock is currently owned by institutional investors and hedge funds.

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.