Peregrine Capital Management LLC Buys 24,510 Shares of Agilysys, Inc. $AGYS

Peregrine Capital Management LLC raised its holdings in shares of Agilysys, Inc. (NASDAQ:AGYS) by 21.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 137,957 shares of the software maker’s stock after buying an additional 24,510 shares during the quarter. Peregrine Capital Management LLC owned about 0.49% of Agilysys worth $9,814,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Pictet Asset Management Holding SA boosted its position in shares of Agilysys by 10.2% during the 1st quarter. Pictet Asset Management Holding SA now owns 4,697 shares of the software maker’s stock valued at $334,000 after acquiring an additional 433 shares during the last quarter. Wasatch Advisors LP increased its position in shares of Agilysys by 33.0% in 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. Louisiana State Employees Retirement System purchased a new stake in Agilysys in the first quarter valued at approximately $804,000. Caitong International Asset Management Co. Ltd lifted its position in Agilysys by 702.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 329 shares of the software maker’s stock valued at $39,000 after purchasing an additional 288 shares during the last quarter. Finally, MidFirst Bank bought a new stake in Agilysys during the fourth quarter valued at approximately $402,000. 88.00% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

AGYS has been the topic of a number of research analyst reports. Piper Sandler started coverage on shares of Agilysys in a report on Tuesday, June 2nd. They issued an “overweight” rating and a $110.00 price target on the stock. Oppenheimer upped their target price on shares of Agilysys from $90.00 to $100.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 19th. Cantor Fitzgerald reissued an “overweight” rating on shares of Agilysys in a research note on Wednesday, June 17th. Weiss Ratings upgraded Agilysys from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 11th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price objective on shares of Agilysys in a report on Tuesday, May 19th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $116.00.

Agilysys Stock Performance

Shares of Agilysys stock opened at $104.50 on Wednesday. Agilysys, Inc. has a 52-week low of $61.50 and a 52-week high of $145.25. The company has a fifty day moving average of $80.49 and a 200-day moving average of $86.86. The stock has a market capitalization of $2.94 billion, a price-to-earnings ratio of 76.84 and a beta of 0.41.

Agilysys (NASDAQ:AGYS) last issued its earnings results on Monday, May 18th. The software maker reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.12. Agilysys had a net margin of 12.15% and a return on equity of 11.07%. The company had revenue of $82.95 million for the quarter, compared to analysts’ expectations of $81.56 million. During the same quarter last year, the company earned $0.54 EPS. The firm’s revenue was up 11.7% compared to the same quarter last year. On average, equities research analysts forecast that Agilysys, Inc. will post 1.77 earnings per share for the current fiscal year.

Agilysys Profile

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.