Legal & General Group Plc Invests $6.14 Million in Agilysys, Inc. $AGYS

Legal & General Group Plc bought a new stake in Agilysys, Inc. (NASDAQ:AGYS) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 58,753 shares of the software maker’s stock, valued at approximately $6,140,000. Legal & General Group Plc owned 0.21% of Agilysys at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. BlackRock Inc. acquired a new stake in Agilysys in the 2nd quarter valued at $431,704,000. Vanguard Group Inc. boosted its position in shares of Agilysys by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 2,407,947 shares of the software maker’s stock worth $286,160,000 after buying an additional 32,052 shares during the period. Wasatch Advisors LP grew 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 valued at $115,204,000 after buying an additional 50,536 shares in the last quarter. State Street Corp raised its holdings in shares of Agilysys by 0.5% during the 4th 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 period. Finally, Capital Research Global Investors purchased a new stake in shares of Agilysys during the 4th quarter valued at about $104,878,000. Institutional investors and hedge funds own 88.00% of the company’s stock.

Agilysys Stock Up 0.9%

Shares of AGYS opened at $113.51 on Thursday. The business’s 50 day moving average is $109.02 and its two-hundred day moving average is $87.18. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25. The firm has a market cap of $3.20 billion, a price-to-earnings ratio of 75.17 and a beta of 0.38.

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

Insider Activity at Agilysys

In other Agilysys news, SVP Kyle C. Badger sold 8,400 shares of the firm’s stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $114.06, for a total transaction of $958,104.00. Following the completion of the transaction, the senior vice president directly owned 75,037 shares of the company’s stock, valued at $8,558,720.22. This trade represents a 10.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Ramesh Srinivasan sold 106,205 shares of the company’s stock in a transaction dated Thursday, August 6th. The shares were sold at an average price of $106.62, for a total transaction of $11,323,577.10. Following the completion of the sale, the chief executive officer owned 635,044 shares in the company, valued at approximately $67,708,391.28. This trade represents a 14.33% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 212,812 shares of company stock valued at $23,046,675 in the last 90 days. 8.70% of the stock is currently owned by insiders.

Analysts Set New Price Targets

AGYS has been the subject of several recent research reports. Weiss Ratings raised shares of Agilysys from a “hold (c-)” rating to a “hold (c)” rating in a research report on Monday, July 13th. Piper Sandler upped their target price on shares of Agilysys from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Tuesday, July 28th. Oppenheimer reaffirmed an “outperform” rating and set a $118.00 price target on shares of Agilysys in a report on Tuesday, July 28th. UBS Group set a $110.00 price target on shares of Agilysys in a research note on Wednesday, June 3rd. Finally, Zacks Research cut shares of Agilysys from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 27th. Five analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $124.60.

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.