Agilysys, Inc. $AGYS Stock: Riverbridge Partners LLC Decreases Holdings

Riverbridge Partners LLC decreased its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS) by 8.3% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 164,746 shares of the software maker’s stock after selling 14,827 shares during the period. Riverbridge Partners LLC owned approximately 0.58% of Agilysys worth $15,994,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Pinnacle Wealth Planning Services Inc. increased its position in Agilysys by 36.0% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 393 shares of the software maker’s stock valued at $38,000 after acquiring an additional 104 shares during the period. Versant Capital Management Inc raised its stake in Agilysys by 123.9% during the 2nd quarter. Versant Capital Management Inc now owns 421 shares of the software maker’s stock valued at $44,000 after acquiring an additional 233 shares during the last quarter. Optiver Holding B.V. lifted its position in Agilysys by 700.0% during the 1st quarter. Optiver Holding B.V. now owns 456 shares of the software maker’s stock worth $32,000 after acquiring an additional 399 shares during the period. MCF Advisors LLC lifted its position in Agilysys by 120.3% during the 2nd quarter. MCF Advisors LLC now owns 478 shares of the software maker’s stock worth $50,000 after acquiring an additional 261 shares during the period. Finally, Covestor Ltd lifted its position in Agilysys by 511.8% during the 3rd quarter. Covestor Ltd now owns 673 shares of the software maker’s stock worth $65,000 after acquiring an additional 563 shares during the period. Hedge funds and other institutional investors own 88.00% of the company’s stock.

Analyst Upgrades and Downgrades

AGYS has been the topic of a number of recent research reports. Needham & Company LLC boosted their target price on Agilysys from $135.00 to $145.00 and gave the company a “buy” rating in a report on Tuesday, October 27th. Zacks Research cut Agilysys from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 27th. Weiss Ratings raised Agilysys from a “hold (c)” rating to a “hold (c+)” rating in a report on Friday, October 30th. Wall Street Zen raised Agilysys from a “hold” rating to a “buy” rating in a report on Saturday, October 31st. Finally, Cantor Fitzgerald reiterated 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $141.25.

Insiders Place Their Bets

In other news, CFO William Wood, III sold 6,000 shares of the stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $114.72, for a total transaction of $688,320.00. Following the completion of the transaction, the chief financial officer directly owned 35,052 shares of the company’s stock, valued at approximately $4,021,165.44. This represents a 14.62% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Joe Youssef sold 1,002 shares of the stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $114.64, for a total value of $114,869.28. Following the transaction, the insider directly owned 19,045 shares of the company’s stock, valued at approximately $2,183,318.80. This trade represents a 5.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 17,113 shares of company stock worth $1,958,989. Company insiders own 8.70% of the company’s stock.

Agilysys Stock Up 0.2%

Shares of Agilysys stock opened at $124.15 on Wednesday. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $133.32. The company’s 50-day simple moving average is $109.25 and its 200-day simple moving average is $92.63. The firm has a market cap of $3.50 billion, a price-to-earnings ratio of 81.53, a price-to-earnings-growth ratio of 3.38 and a beta of 0.40.

Agilysys (NASDAQ:AGYS) last announced its quarterly earnings data on Monday, October 26th. The software maker reported $0.67 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.12. Agilysys had a net margin of 12.88% and a return on equity of 12.98%. The firm had revenue of $93.36 million during the quarter, compared to the consensus estimate of $90.92 million. During the same quarter last year, the firm earned $0.41 earnings per share. The firm’s revenue was up 17.7% compared to the same quarter last year. Equities research analysts anticipate that Agilysys, Inc. will post 1.83 EPS for the current year.

Agilysys Profile

Agilysys, Inc. develops software and technology solutions for the hospitality industry. Its products support hotels, resorts, casinos, restaurants, cruise lines, and other organizations that serve guests. The company’s offerings include property management and point-of-sale systems, as well as tools for inventory and procurement, guest engagement, payments, and operational analytics. Agilysys also provides implementation, support, and other services related to its software. Founded in 1963, Agilysys is headquartered in Alpharetta, Georgia, and serves hospitality businesses in North America and international markets.